Country: Asia Pacific Page 182 / 511
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- February 6 2023
AM Best downgrades Fubon Insurance’s credit rating as Covid losses mount
The Taiwan P&C carrier's rating has been changed to “A” (excellent) from “A+” and is under review with negative implications.
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- February 6 2023
Asia Q4 2022 property pricing up 2% as casualty fell 1%: Marsh
Cyber rates increased 22%, an improvement over previous quarters, as more capacity entered the market.
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- February 6 2023
AM Best hands Bangkok Insurance B++ rating, withdraws after request
The Thai insurer has requested to no longer participate in AM Best’s rating process.
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- February 3 2023
Hong Kong’s MHK buys Lombard International Singapore
The deal is specialty (re)insurance and HNW life broker MHK Insurance Services' first overseas M&A foray.
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- February 3 2023
Australia disaster funding under an independent review
Led by Andrew Colvin of Deloitte, the review evaluates government investment in disaster risk reduction and resilience.
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- February 3 2023
India budget snub a wake up call for United India, Oriental and National
Market experts suggest the decision not to allocate any more capital is part of a plan to merge the P&C players with LIC.
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- February 3 2023
IAG hit by 15,000 claims from NZ floods, ups FY 2023 nat cat forecast by US$167m
Reinsurance likely to be triggered as the Australian carrier says gross costs for the Auckland event are set to exceed US$248m, above a maximum event retention of US$167m.
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- February 3 2023
Chinese insurtech Cheche Group initiates SPAC merger for US listing
The transaction values the combined company at an enterprise value of US$841m.
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- February 2 2023
Honan snaps up Ardrossan Insurance Brokers
Melbourne-based Ardrossan was established by Nick Harvey in 2013 and works with sectors including manufacturing, retail, hospitality, finance, property, logistics, construction and sport.
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- February 2 2023
20,000 claims lodged from Auckland flooding: ICNZ
A ICNZ spokesperson has told IAN that the number of claims "will continue to rise" from the "biggest climate event to have ever hit" New Zealand.
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- February 2 2023
Scor’s APAC leadership faces 1.4 renewals test after Laurent Rousseau exit
The French reinsurer will be looking to capitalise on last year's growth with new CEO Thierry Léger starting in May.
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- February 2 2023
Omar Ghaznawi to lead Chubb international personal lines, APAC
Joining from the insurer's New York team, he will be in charge of the region's motor, residential, specialty personal and HNW lines.
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- February 2 2023
EV giant BYD in talks to acquire Yian P&C Insurance
The Shenzhen-headquartered insurer was seized by Chinese authorities in 2020.
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- February 1 2023
India’s Digit Insurance US$440m IPO blocked by regulator: report
The insurer was last valued at US$3.5bn by Sequoia Capital and is backed by investors including Canadian billionaire Prem Watsa.
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- February 1 2023
Marsh Asia in construction leadership shake-up
Asia energy and power sales head Chris Bickerstaff takes on regional leader role from Stephen Boddington who becomes chief client officer.
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- February 1 2023
Liberty targets Asia Pacific M&A deals as demand revs up
As the region opens up, the specialty player has launched a contingent legal risk insurance product.
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- February 1 2023
Axa XL appoints Dan Bryan head of Asia, reinsurance
Axa XL's head of treaty underwriting for Asia replaces Ann Chua who becomes a special adviser.
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- February 1 2023
New Zealand’s insurers reel from country’s ‘worst-ever’ climate catastrophe
As adjusters start work, hundreds of million of dollars of claims are expected, including significant commercial damage.
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- February 1 2023
Indonesia’s general takaful sector grows 57%: Fitch
Despite the spurt in sales, general sharia booked a US$2.5m loss from increased claims.
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- February 1 2023
India’s Union Budget to infuse US$490m into three state general insurers: report
It is the third consecutive injection since 2020 but the companies are still facing a shortfall in capital.
