Country: Asia Pacific Page 169 / 503
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- February 28 2023
Opinion: Asia premium momentum paves way for strong 1.4, 1.7 renewals
2022 results and 1.1 renewals show there is still plenty of upside in Asia despite a myriad of challenges.
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- February 28 2023
DB Insurance acquires Vietnam National Aviation Insurance
The Korean carrier, in its second Vietnamese acquisition, has picked up a 75% stake in the Hanoi-based P&C insurer.
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- February 28 2023
Gard promotes Louis Shepherd as Japan managing director
Shepherd replaces John Martin, who has acted as interim MA of Gard in Japan since Tadashi Sugimoto stepped down in October 2022.
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- February 27 2023
Taiping Re H1 2022 COR at 97%: Fitch
The rating agency affirmed the reinsurer and the state-owned insurance group’s ratings at A with a stable outlook.
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- February 27 2023
Philippine regulator’s cat rate hike legally vulnerable: report
The Anti-Red Tape Authority has pointed out that the now-deferred insurance premium increase did not go through a mandatory regulatory impact assessment.
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- February 27 2023
Inflation pinches ‘high-margin’ liability lines’ profitability
Hit by the 1.1 renewals, many Asian carriers are seeing opportunities in liability cover but there are dangers in the tail.
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- February 27 2023
Flooding bill from Queensland, NSW hits US$3.9bn one year on: ICA
The dramatic summer 2022 flooding event was the costliest insurance event in Australia's history.
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- February 26 2023
Vietnam’s PVI Insurance COR improves to 90%, premium grows 17%
The carrier, which has been handed a rating upgrade by AM Best, will see its reinsurance arm PVI Re's CAR strengthen with a capital injection in Q1 2023.
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- February 24 2023
Shanghai Electric captive rebuilds traditional lines with subsidy resumption
The carrier's topline is back to 2020 levels with the restarting of specialty underwriting in March 2022, says AM Best.
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- February 24 2023
Crawford Australia ropes in senior adjuster from McLarens New Zealand
Jon Stagg, who has relocated to Melbourne, joins as senior general adjuster to expand its liability claims team.
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- February 24 2023
Axa continues pivot from nat cat reinsurance
Axa XL's property cat premiums fell 36% in FY 2022, while the French giant saw Asia P&C profits rise 34% to US$109m.
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- February 24 2023
Steadfast-owned Insurance Brands Australia acquires Melbourne broker
The target, Southern Cross Brokers, has merged with the IBA-owned Insurance House team.
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- February 24 2023
Weak earnings season ahead for Australia’s insurers: S&P Global
Solid capital buffers and ability to increase premium rates are helping to offset rising cost of claims.
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- February 23 2023
Axa XL appoints APAC broker and distribution leader, names China property head
Winston Zhuo joins in Shanghai from Allianz, while Carlson Grote has switched to distribution from client management.
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- February 23 2023
Hyundai Insurance’s premiums grow 5.8% to US$12.6bn
The Korean carrier's commercial arm's COR for FY 2022 was at 89.2%.
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- February 23 2023
Hong Kong’s budget extends ILS and talent training schemes
The Insurance Authority and HKFI welcomed the moves, as the government cut SME taxes, provided consumption vouchers and explores ways to re-domicile firms to the SAR.
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- February 23 2023
Asian fleets boost P&I clubs’ renewals
After a tough start, many clubs saw close to 50% renewed gross tonnage coming from Asia.
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- February 23 2023
Tune Protect’s COR deteriorates to 107.6%, GWP increases 36%
In FY 2022, the Malaysian insurer recorded its highest gross written premium since 2013 at US$128m.
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- February 22 2023
Steadfast sees 27.2% revenue growth in H1 as GWP climbs 14.7%
The Sydney broking group is on target to complete US$150m of trapped capital acquisitions this fiscal year.
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- February 22 2023
AUB’s H1 net profit falls on acquisition costs, but underlying earnings rise strongly
CEO Michael Emmett said Tysers was outperforming expectations with underlying net profit of US$12.3m in three months.
