Country: Asia Pacific Page 142 / 502
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- July 14 2023
Nat Re to rejig portfolio with a shift to life business to improve profitability: AM Best
The rating agency has affirmed the reinsurer's rating of B++ (good) with a stable outlook.
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- July 14 2023
Cyber market in APAC set to surge by 2025
Overall market growth for the sector continues to be bullish with SMEs in the region bearing the brunt of malware attacks and cyber war.
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- July 14 2023
MSIG paid out US$45m of claims in Hong Kong and Macau in 2022
The figure is a dip from US$48.6m in 2021, but the firm's claims settlement ratio increased to 92.9%.
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- July 14 2023
BYD Auto to raise insurance arm’s registered capital by US$420m
After the capital injection, BYD Property Insurance's registered capital will reach US$560m and the parent will maintain 100% shareholding.
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- July 13 2023
Reliance General Insurance owners’ lenders approve Hinduja takeover bid
The deadline to file the resolution plan with the National Company Law Tribunal is July 15.
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- July 13 2023
HDI takes Markel’s James Guardino to enter Asian political & credit risk market
Guardino will report to Singapore managing director Graham Silton and Nick Robinson, HDI Global Specialty’s head of political and credit risk in London.
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- July 13 2023
Everest chopper crash signals turbulence for Nepal’s aviation fac market
IAN understands the helicopter crash this week that killed six people will cost reinsurers around US$2.5m and adds to a series of safety failures that will likely see prices and retentions soaring.
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- July 12 2023
Zurich in APAC leadership shake-up
Sean Walker and Liam Burrell to take on senior APAC commercial roles, Reginald Peacock becomes head of marketing development for Zurich Resilience Solutions, and Alex Morgan to head GI for Australia and NZ.
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- July 12 2023
Allianz Australia to reorganise corporate structure
As part of the overhaul, the portfolio that was part of the erstwhile Westpac General Insurance will be transferred to the parent.
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- July 12 2023
WTW, Axa Climate roll out Asia’s first 4-peril parametric cover
The policy offers Sri Lankan shrimp farms protection against earthquake, typhoon, excess rainfall and heat stress.
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- July 12 2023
Jacques de Vaucleroy proposed as next Swiss Re chairman
The board unanimously approved current vice-chairman de Vaucleroy's elevation following an extensive selection process launched since the departure of Sergio Ermotti in April.
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- July 12 2023
PasarPolis lands Allianz Indonesia CEO Peter Van Zyl as president
Jakarta-based Van Zyl will oversee the Indonesian insurtech's strategy as it looks to grow as a full-stack insurer.
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- July 12 2023
Rising parametric solutions support Asia’s renewable energy transition
Advances in data analytics are helping cover a wider range of perils and risks, but weak pricing, lack of diversification and basis risk limit growth.
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- July 12 2023
Zurich hires APAC head of strategy
Nitya Bhutani joins from consultancy Bain in Singapore.
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- July 11 2023
Gallagher appoints Victoria Ma as senior vice president for APAC practice group
Ma, who is a trade credit specialist, will provide services to Asia Pacific multinational businesses.
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- July 11 2023
Meritz Korindo’s rating affirmed by Fitch despite low retention ratio
The rating agency has affirmed the Indonesian carrier's A+ rating and says there is sufficient capitalisation to offset the company's volatile underwriting performance.
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- July 11 2023
China reopening to drive non-life growth as APAC nat cat protection gap widens
Swiss Re is forecasting emerging Asia to see non-life growth of over 6.5% in 2023 with global P&C premiums set to cross US$4tn this year.
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- July 11 2023
Axa XL strengthens Asia construction team with new hire
Singapore-based Kheng Seong Lim, who joined from Sirius, has become a construction senior underwriter.
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- July 10 2023
Allianz Commercial hires AIG veteran Christian Sandric, Mark Mitchell set to leave
Sandric is joining on September 1 as managing director for Asia, with Mitchell, AGCS Asia managing director, leaving the group.
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- July 10 2023
India to keep 4% obligatory cession for GIC Re: report
Under the right to first refusal, GIC Re has the first right to choose the reinsurance business from the general insurers and then it can be placed with other reinsurers.
