Country: Asia Pacific Page 156 / 518
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- July 24 2023
Allianz Commercial launches in Asia and Australia
The merged division will have 11 regions with Asia led by Christian Sandric and Australia by Phuong Ly.
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- July 24 2023
Indian government assures capital support to state-owned general insurers: report
The three carriers, National Insurance, United India Insurance and Oriental Insurance, have requested US$2.5bn of injection in total.
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- July 24 2023
HDI Global hires Nathan Jones as property, mining underwriting manager for western region
Perth-based Jones joins from Suncorp, where he worked for the past 13 years
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- July 24 2023
Chubb promotes Adrian Habils to Asia head of property
Habils, who is currently deputy property manager for Chubb, Australia and NZ, will be based in Singapore and have an interim reporting line to Paul McNamee, APAC regional president.
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- July 24 2023
ACCC delays Suncorp bank sale decision again
The decision by the regulator about the proposed ANZ takeover will now take place a week later on August 4.
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- July 24 2023
Thai carrier Dhipaya handed negative rating outlook due to stress on capital buffer
AM Best, however, affirmed the A- (excellent) rating for the country's second largest general insurer due to strong operating performance, COR of 83.6%.
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- July 24 2023
IFRS 17 brings mixed results for APAC carriers
While the new standard seems to have improved insurance results, impacts of external factors like interest rates have brought a greater need to explain the numbers to investors.
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- July 24 2023
Philippines, Hong Kong, China and Taiwan brace for typhoon
The slow-moving storm is picking up strength as it approaches north-eastern Philippines with the government issuing strong wind and rain warnings in Luzon.
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- July 24 2023
Chubb’s Greenberg urges ‘effort to limit bureaucracy’ to help GBA: report
The global CEO said the government has to "take down the financial regulatory borders between Hong Kong and Guangdong".
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- July 24 2023
Toa Re posts 6% growth in net premiums
Toa Re wrote US$2.26bn of premium for the year ended March 31, 2023.
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- July 24 2023
Marsh reports 8% underlying growth for Asia Pacific in H1 2023
Marsh McLennan global CEO John Doyle says Asia is one of the parts of the world where there's a "meaningful protection gap".
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- July 21 2023
AIG hires Chubb’s APAC P&C head as Australia CEO
Grant Cairns will also become head of Australia and New Zealand from the beginning of November and will report to Chris Colahan, AIG's APAC leader.
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- July 21 2023
Opinion: Australian flood inquiry needs to broaden scope to probe impact of state taxes, land use rules
A shortage of expert assessors, building labour and materials constraints, and the complexity of recovery and resilience programmes delivered by state governments exacerbate problems.
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- July 20 2023
Japan P&I Club returns to profit with 80% jump in premium income
A 10-15% rate increase, additional supplementary calls and sale of real estate assets helped the marine insurer script a turnaround.
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- July 20 2023
QBE raises FY 2023 cat budget to US$1.33bn
The insurer currently expects H1 2023 net catastrophe costs of around US$700m compared to an original budget of US$535m.
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- July 20 2023
Reliance General to receive US$24m equity infusion in group takeover: report
The capital infusion is crucial for the general insurer to increase its solvency margin to 175% from 155%.
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- July 20 2023
China Construction Bank at centre of Vesttoo US$4bn reinsurance collateral fraud: report
Forged letters of credit issued by the Chinese lender is revealed to have been used by investors for ILS transactions on the insurtech platform.
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- July 20 2023
Tower warns of potential loss in FY 2023 due to challenging claims environment
The Kiwi carrier’s large events allowance of NZ$50m has depleted to NZ$10.5m for the remainder of the year to September 30, 2023.
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- July 20 2023
Update: Insurers take ‘wait-and-see’ approach to Russia’s Black Sea threat
As the situation escalates with Russia targeting port facilities and destroying grains and the US warning that Moscow may have mined the sea corridor, there is uncertainty if terms can be held for non-Russia, Ukraine, Belarus ports.
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- July 20 2023
Tokio Marine Kiln expands its cyber presence with Axa XL hire
Singapore-based Sam Bye will start in the role of a cyber underwriter from August 1 and report to APAC underwriting director Jamie Tang.
