Country: Asia Pacific Page 137 / 492
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- June 19 2023
FWD General Insurance to exit group medical in 2024, tail off employee compensation: Fitch
The rating agency has affirmed the Hong Kong carrier's rating at 'BBB+' (good) while its outlook has been revised to stable from positive.
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- June 19 2023
AUB completes US$10m share purchase plan
The proceeds will be used to increase financial flexibility and balance sheet strength to allow AUB to capitalise on its 'attractive M&A pipeline'.
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- June 16 2023
William Song to head MSIG’s Asia strategy and M&A functions
Felicia Er takes over from Song as the Singapore-based carrier’s chief risk officer.
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- June 16 2023
Philippines to get US$750m World Bank loan for ESG, expanding crop insurance
The policy loan will bolster environmental protection and fund new insurance products for smallholder farmers and support operations of the Philippine Crop Insurance Commission.
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- June 16 2023
Taikang-backed Tk.cn scripts underwriting turnaround with COR improving 29 points to 92%
Fitch has affirmed the Chinese digital non-life insurer's rating at A- with a stable outlook.
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- June 16 2023
Suncorp and ANZ agree bank merger conditions with Queensland as ACCC decision looms
Suncorp CEO Steve Johnston believes the group can more readily address issues such as climate change, affordability and resilience as 'a pure play insurance company'.
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- June 16 2023
‘Late’ July renewals to continue hardening trend
Sluggish retro markets, and elevated nat cat losses in Australia and New Zealand will weigh on 1.7.
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- June 16 2023
Axa XL Re’s Japan CEO to step down
Takashi Oka will leave the global specialty (re)insurer on July 1 after seven years in the role.
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- June 15 2023
Fewer cyclones to make landfall in China, Korea, Taiwan and Vietnam in 2023: Guy Carpenter
The Philippines is set see a 'near normal' number make landfall as the weather shifts from La Niña to El Niño conditions.
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- June 15 2023
India proposes sweeping changes to insurance rules: report
Several amendments around capital and broker registration have been proposed by the regulator to improve insurance penetration.
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- June 15 2023
Lloyd’s to reverse losses this year, affirms AA- rating, including for China: Fitch
Fitch expects Lloyd’s to maintain its improved global underwriting results in 2023-4 as pricing conditions remain 'favourable', although volatility will remain.
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- June 15 2023
Howden Australia ups its sport and entertainment game with broker hire
The global broker has appointed Ben Hand, most recently a manager at CorpSure Insurance Broking, to lead the team.
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- June 15 2023
TA Associates explores Honan exit at US$300-400m valuation: report
The private equity firm took an undisclosed stake in the acquisitive Australian P&C broker in 2020.
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- June 15 2023
Carriers bet on APAC renewables despite losses
Underwriters await a market correction as regional investments in innovative projects such as floating solar panels increase.
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- June 15 2023
IAG hikes rates substantially in New Zealand and Australia
The carrier said price rises of up to 30% were a result of unprecedented nat cats, claims' inflation and reinsurance costs.
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- June 15 2023
McLarens-owned Australia and NZ specialist adjuster rebrands
GKA Investigations Group, which provides fire forensics and forensic engineering services, has become Halliwell as an extension of the US operations.
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- June 14 2023
Zurich eyes US$400m stake in India’s Kotak General Insurance: report
The Swiss insurer has expressed interest in a 49% or 51% stake in the Kotak Mahindra Bank-owned general insurer, according to Reuters.
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- June 14 2023
‘Very severe’ Cyclone Biparjoy to hit India, Pakistan
The powerful storm is intensifying and has triggered large-scale evacuations and shuttered oil and container ports.
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- June 14 2023
IRDAI caps SBI group’s total stake in ICICI Lombard at 10%
The state-owned financial services group, which owns SBI General Insurance, has a 4.62% interest in the ICICI-owned general insurer through its mutual fund arm.
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- June 14 2023
Ardonagh-backed Envest targets Asia, NZ and more Australia M&A
'We will look to expand into Hong Kong or Singapore or both in the next couple of years,' CEO Greg Mullins tells IAN.
