Country: Asia Pacific Page 125 / 502
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- September 29 2023
ICA urges New South Wales to drop fire services levy after Tasmania axe
The NSW state levy is forecast to collect US$900m in revenue from insurance customers in FY 2023-24.
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- September 28 2023
Tower ups reinsurance excess for first two events to US$10m
An excess of US$11.9m applies for a third event in FY 2024, while the Kiwi P&C player has decreased its upper cat limit to US$447m from US$557m.
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- September 28 2023
Tokio Marine domestic fire lines to benefit from rate hikes, says AM Best while affirming its ratings
Double-digit growth in premiums and profits from US operations boost the Japanese carrier's international business despite Taiwan Covid-19 losses.
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- September 28 2023
Price fixing by Japan’s big four carriers extends to more than 100 clients: report
The findings are from internal probes, which will be handed to the Financial Services Agency on Friday this week.
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- September 28 2023
Gallagher Re takes Guy Carpenter’s Linda Purnama to lead Indonesia
Singapore-based Purnama joins the broker from her previous role as GC's managing director covering Vietnam and the Philippines.
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- September 28 2023
Asian Reinsurers’ Summit reaffirms need to foster closer collaboration among Asian reinsurers
Malaysian Re hosted the three-day conference of 11 national reinsurers from the region in Kuala Lumpur from September 25-27.
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- September 28 2023
Analytics: Singapore’s H1 P&C underwriting profits nearly double
(Re)insurers benefited from strong premium growth in engineering and credit lines and a lower claims tally, however aviation hull and cargo GWP declined, according to MAS data.
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- September 28 2023
Korean Re’s earnings leap 300% aided by new accounting rules
The reinsurer also reported100% growth in its underwriting profit of US$159.4m compared with US$79.6m in H1 2022.
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- September 28 2023
ICNZ chief Tim Grafton to step down
Grafton will continue until his successor is appointed, for which ICNZ has already started the hiring process.
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- September 27 2023
Ping An rings in leadership changes as co-CEO Jessica Tan resigns
Michael Guo, the group's chief human resources officer, replaces Tan, with veteran Sun Jianping stepping into the HR position.
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- September 27 2023
Hiscox sells DirectAsia to Roojai parent Ignite Thailand
DirectAsia is primarily a motor insurer in Singapore and Thailand and had gross written premiums of US$52.5m in 2022.
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- September 27 2023
RBNZ invites submissions for final round of consultations over insurance supervision
The regulator started a review of the Insurance (Prudential Supervision) Act in 2017 as it seeks to establish a "more proactive and intensive approach".
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- September 27 2023
Mega cargo vessels present growing claims issues for Asia ports
Cargo from larger ships is exposed to potentially higher risks by staying in ports longer, increasing the prospect of claims in relation to theft, delays in delivery, flooding, defrosting and container damage.
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- September 27 2023
Pen Underwriting makes senior level hires in Australia
Dean West has been appointed national construction and engineering manager and Hun Kim joins as chief actuary.
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- September 27 2023
MG Insurance majority owner files fresh lawsuit to stop sale: report
Korea Deposit Insurance Corporation had hired Samjeong KPMG to run the sale of the troubled carrier and had set an October 5 deadline for bids.
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- September 26 2023
Suncorp expects December tribunal hearing on blocked ANZ bank sale with decision in February
Pending all approvals including from the Australian Competition Tribunal, the group sees a potential sale completion in the middle of 2024, chairman Christine McLoughlin says.
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- September 26 2023
Korean non-life premiums to grow 4.4% to US$94bn in 2023: Korean Re
The growth will be supported P&C lines including liability and fire with overall premiums expected at rise 7%, the reinsurer said.
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- September 26 2023
APAC carriers’ coal jitters sees excess capacity shift to renewables, gas
Regional (re)insurers are replacing ESG-hit premiums by increasing business from greener energy projects, potentially driving down rates.
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- September 26 2023
ICICI Lombard names Sanjeev Mantri as MD and CEO
Current CEO Bhargav Dasgupta is set to join the Asian Development Bank as vice president – market solutions.
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- September 26 2023
Lotte Insurance’s private equity owner to kick off sale process: report
Majority owner JKL Partners has scripted a turnaround for the carrier since a 2019 purchase, but buyers have concerns over whether the robust earnings of carriers under IFRS17 are sustainable.
