Country: Asia Pacific Page 145 / 511
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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.
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- August 11 2023
AUB upgrades FY profit guidance; Chris Drury to leave Tysers
AUB said that Tysers has been "performing ahead of expectations", while the broker has also confirmed the departure of Tysers' Singapore CEO.
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- August 11 2023
Allianz records 15% P&C profit drop in APAC despite top line growth
The overall APAC COR including Australia deteriorated from 95.8% to 97.4%, as the group restructures in the region.
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- August 11 2023
Munich Re saw ‘considerable’ price rises in Australia at July renewals
Prices across the Munich Re portfolio increased 5.1% at July 1, while overall P&C reinsurance H1 profits slipped 20.5%.
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- August 11 2023
Reinsurance costs surge 50% in the Philippines: report
Reinsurers have either withdrawn or reduced exposure leading to higher non-life product prices, according to Malayan Insurance's CUO.
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- August 10 2023
Zurich’s H1 APAC COR climbs to 93.4%; P&C GWP grows to US$1.82bn
On a like-for-like basis, commercial premium grew 11% and retail premium grew 17%, driven by Australia and Indonesia.
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- August 10 2023
QBE posts H1 COR of 98.8% as cat costs bite
Investment result boosts insurer after storms in New Zealand, the US, Australia and Turkey earthquake cause US$164m H1 cat allowance miss.
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- August 10 2023
Vesttoo names interim CEO, liquidates Bermuda insurer
Board member Ami Barlev takes on the role after the insurtech shut its Asia offices and made 75% of staff redundant.
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- August 10 2023
Hannover Re increases APAC Covid reserves to US$629m
In the 1.6 and 1.7 renewals, the German reinsurer saw rate increases and improved terms in Australia, while it reduced shares on some proportional business in Asia.
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- August 10 2023
BMS Re appoints Sean Sperring to develop APAC facultative book
He is based in Singapore as a director and was previously a facultative property underwriter at Munich Re in Sydney.
