Country: Asia Pacific Page 135 / 502
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- August 16 2023
Shanghai international reinsurance hub set for August 20 launch: reports
The regulator has granted licences to seven insurers, including two foreign-owned carriers, to start reinsurance operations from the centre.
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- August 16 2023
Hawaii wildfire insured property losses to hit US$3.2bn: KCC
Tokio Marine, DB Insurance and MS&AD have exposure to the state's 'most destructive' ever fire, which has burned over 2,200 structures in the historic town of Lahaina.
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- August 16 2023
Sompo International eyes ‘wholesale’ route for APAC commercial lines growth
The carrier is exploring new markets and industries such as renewables and semiconductors, and is planning to double the wholesale team.
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- August 16 2023
DB Insurance underwriting profit drops 2.4% to US$681m
The carrier's direct written premiums increase 6.6% year-on-year to KRW8.4tn in the first half of 2023.
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- August 15 2023
Samsung Fire & Marine H1 insurance profit up 19.5% at US$950m
The South Korean carrier’s net profit for the first half of 2023 grew 27.4%, buoyed by investment profits.
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- August 15 2023
Typhoon Lan makes landfall in Japan
The authorities have issued flood and landslide warnings after powerful storm skirts near Osaka with the (re)insurance community on high alert.
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- August 15 2023
Tokio Marine, DB and MS&AD face losses from devastating Hawaii wildfires
The catastrophe is likely to lead to hundreds of millions of dollars of claims as overall costs climb to US$6bn.
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- August 15 2023
Aon promotes Harry Edwards to Asia regional director for intellectual property solutions
Singapore-based Edwards will lead the D&O strategy and team in the region, responsible for placing APAC and US exposed management liability insurance programmes into the London market.
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- August 15 2023
KB Insurance H1 2023 underwriting profit at US$400m
The Korean P&C carrier's direct written premiums for the period increased 4% year-on-year to KRW6.4tn.
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- August 14 2023
Gallagher Australia acquires rural specialist Insurance Risk Solutions
The Darwin-based family business is the fourth acquisition by the global broker in Australia this year.
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- August 14 2023
Clement Cheung reappointed CEO of Hong Kong Insurance Authority
Cheung, who has been heading the regulator since 2018, will serve another three-year term till August 14, 2026.
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- August 14 2023
Tokio Marine to sell its Guam subsidiary to MGA Calvo
The deal, which will see the Japanese carrier exit the market, is expected to close in the second half of FY 2023.
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- August 14 2023
Axa XL appoints Aijiao Ruan as senior underwriter in Hong Kong
Ruan was previously at China Zenith Insurance Brokers, a Beijing-headquartered Lloyd's coverholder, for 15 years.
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- August 14 2023
HDI-backed PVI Re rebrands as Hanoi Re
There will not be any changes in the Vietnamese reinsurer's organisational structure and operational model.
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- August 14 2023
Thai Re in H1 profit turnaround as COR registers 97.3%
The reinsurer reported a net profit of US$2.2m in the first six months after a loss of US$5.8m in H1 2022.
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- August 14 2023
Exclusive: Vale Insurance Partners to establish Asia operations — sources
Vale is the seventh specialty insurance firm seeking to join the Asia M&A market in the space of 12 months.
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- August 14 2023
Aon appoints head of Philippines reinsurance arm
Jun Galita has close to three decades of experience in the (re)insurance market.
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- August 14 2023
Zurich makes two senior promotions in Hong Kong
Justina Tang (pictured left) is elevated to head of commercial claims and Christy Chau (pictured right) becomes head of direct, financial institutions and partnership.
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- August 14 2023
CBIC’s outlook stable over premium growth: AM Best
The rating agency has affirmed an A- insurer rating for Chinese-owned Hong Kong insurer with a stable outlook.
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- August 11 2023
Central Re will restore its non-life underwriting profitability after Covid hit: AM Best
AM Best has affirmed the Taiwanese reinsurer with a rating of “a” with a stable outlook.
