Country: Asia Pacific Page 175 / 492
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- November 21 2022
China Re ratings upgraded on higher underwriting margins, overseas recovery
AM Best revised the Chinese state-owned carrier’s rating to a+ (excellent) from a with a stable outlook.
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- November 21 2022
Japan’s big three post massive H1 underwriting losses on nat cats, Covid-19
While Sompo Holdings and MS&AD Insurance Group posted net losses for their first six months of the fiscal year, Tokio Marine saw a 70% fall in profits.
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- November 20 2022
Chubb gets regulatory nod to raise Huatai stake to 83.2%
The China Banking and Insurance Regulatory Commission approved the purchase of an additional 35.9% stake in the Chinese insurance group.
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- November 19 2022
CDB Aviation files lawsuit against 18 insurers over jets stranded in Russia: report
The China Development Bank-owned aircraft leasing company suit in Dublin names Lloyd's, Chubb, Swiss Re, Munich Re, among others.
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- November 18 2022
Tokio Marine announces US$357m share buyback plan
The Japanese giant will repurchase 25m shares from November 21 through March 24, 2023 'to implement flexible financial policies'.
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- November 18 2022
Nasional Re downgraded over poor governance, weak financials
Fitch has handed Indonesia's largest domestic reinsurer a CC rating and placed the firm on negative watch.
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- November 18 2022
Aviso Group buys marine specialist Australian Risk Applications
It is the fourteenth deal by the Envest-backed broking house, which controls over US$300m GWP.
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- November 18 2022
Australian ransomware payment ban offers relief to hardening cyber market
A series of high-profile cyber attacks on major institutions to likely cause a surge in H2 loss ratios for cyber programmes.
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- November 18 2022
Water-related losses highest in Asia, more stress likely, warns WMO
In Asia, the highest adaptation cost is estimated for China at US$189bn, followed by India at US$46bn.
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- November 17 2022
J.B. Boda appoints former Edelweiss exec to lead Chennai
Manoj Menon has also previously worked at Bharti Axa.
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- November 17 2022
Petrolimex may see margin pressure rise as claims frequency normalises: AM Best
The Vietnamese general insurer, rated B++, has posted a five-year average combined ratio of 97.7%.
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- November 17 2022
Gallagher Australia’s Mark Rudman to lead marine specialty
Sydney-based Rudman was the broker's manager for marine, transport and logistics.
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- November 17 2022
Ex-Aon Securities MD Shinji Yamamoto launches ILS boutique
He was head of capital markets and ILS divisions in Asia for the global broker, based in Japan.
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- November 17 2022
WTW aids Indonesia with low carbon transition
A new sovereign risk management programme has been designed to help the world’s largest thermal coal exporter.
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- November 17 2022
November floods add to rising Australia nat cat woes
Thousands of claims from NSW, Victoria and South Australia add to US$650m plus bill since July 1, as prices become 'out of reach'.
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- November 16 2022
AA Insurance names Michelle James as CEO
James, who joins from Tower Insurance, will assume office in February 2023.
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- November 16 2022
Korean property insurers raided over price rigging: report
The seven property insurers, including Samsung Fire & Marine and KB Insurance, were fined by the Fair Trade Commission in April.
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- November 16 2022
Paul Li rejoins QBE Asia as head of Macau
Li, who joins from Macau Insurance, was previously the insurer's Hong Kong head of bancassurance.
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- November 16 2022
TMK Singapore recruits regional head of claims
Mike Vincent was most recently in a technical claims role at AIG in Sydney.
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- November 16 2022
Currency mismatch piles pressure on Asia underwriting
As the US dollar strengthens, carriers in the region are feeling the heat due to worsening asset-liability positions amid capacity constraints.
