Country: Asia Pacific Page 128 / 501
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- September 13 2023
ICA reveals huge cost increase of losses if historic Australian disasters happened again
The April 1999 Sydney hailstorm which caused US$1.1bn in insured losses would see an estimated US$5.7bn claims' bill if it happened in 2023.
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- September 12 2023
Zurich | Designing result-driven embedded insurance propositions
Embedded insurance is more than just a tick in the box, it calls for a hands-on approach involving thoughtful consideration of customer value.
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- September 12 2023
Claims from Typhoon Saola and black rain event of ‘large scale and continue to escalate’: HKIA
The two storms have caused significant motor and property losses, with the regulator urging insurers to make adequate resources available to settle claims.
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- September 12 2023
QBE takes Richard Chien from Taiping Re as Greater China property head
Hong Kong-based Chien will be responsible for leading the insurer's teams in Hong Kong and Macau.
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- September 12 2023
Swiss Re’s Mael He becomes head of client underwriting, China
Prior to the appointment this month, He was heading the reinsurer's APAC agriculture business.
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- September 12 2023
+8 Partners ropes in Phillip Emmanuel as head of logistics
Emmanuel was most recently Asia Pacific regional director and logistics insurer TT Club Mutual Insurance.
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- September 11 2023
Delta to expand underwriting capacity riding on growth: AM Best
AM Best has affirmed the performance assessment of PA-2 (excellent) to Delta Insurance New Zealand and Delta Underwriting Singapore with a stable outlook.
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- September 11 2023
Hannover Re expects APAC rates to harden further in 2024 after 1.4, 1.6 and 1.7 uplift
The reinsurer expects insurers to raise retentions for nat cats to counter increased costs, as it secured better prices and conditions, especially for non-proportional treaties.
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- September 11 2023
Despite volatility, Asian reinsurers set for better underwriting results: AM Best
The overall combined ratio of APAC's leading reinsurers improved slightly to 100.8% in FY 2022 from 101.1% in the previous year.
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- September 11 2023
Dual promotes Leo Abbruzzo to executive chairman for ANZ as it rejigs regional leadership
Deputy CEO Michael Ussher takes on additional responsibilites at the Howden-owned MGA, which has also named a new Australia, New Zealand CUO and a head of national partnerships.
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- September 11 2023
Chubb elevates Nelson Turk to Thailand head of P&C
In his new role, Bangkok-based Turk will lead the carrier's growing portfolio in the country.
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- September 11 2023
Hong Kong to see most claims since 2018 typhoon after record rainfall; Shenzhen also hit
Rates to harden as insurers count costs of BI claims, damage to vehicles, flats, roads, hotels, shopping malls and metro stations caused by flooding, according to market experts.
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- September 11 2023
US sanctions jet-fuel shipments to Myanmar: IGP&I
While restrictions apply only to fuel for military purposes, in practice, it may be impossible to prove that shipments are only for civil aviation, which may lead to exclusions in P&I cover.
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- September 11 2023
Allianz Trade names Imran Khan as India country manager
Mumbai-based Khan will manage credit risk of Allianz Trade's clients in India and work closely with broker partners in the country.
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- September 11 2023
Hong Kong tech hub receives ransom demands after data breach: reports
Hackers are demanding around US$300,000 to return the data taken from startups in Cyberport, which also incubates several insurtechs.
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- September 11 2023
Asian reinsurance rates to stay high in FY 2023: Fitch
Rate increases and tighter renewal terms have offset the impact of inflation-induced rising claims.
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- September 8 2023
Sompo Japan CEO Giichi Shirakawa steps down over Bigmotor scandal
The top executive will resign and take responsibility for the company’s handling of the insurance fraud, while a nomination committee has been constituted to find a successor.
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- September 8 2023
Hong Kong sees heaviest rainfall on record overnight as HKO issues black rain signal
There is dramatic flooding across the SAR with many claims expected to keep brokers, insurers and adjusters busy.
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- September 8 2023
Tysers Singapore ropes in Babita Rai as reinsurance MD
In her new role, Rai will lead the AUB Group-owned Lloyd's wholesale broker's reinsurance operations in the Lion City.
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- September 8 2023
Lloyd’s new consortia wording to bring London market flavour to APAC
Allowing service companies to aggregate capacity like in London will facilitate local access to specialist products, larger line sizes and more efficiency in the region.
