Country: Asia Pacific Page 193 / 503
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- October 14 2022
Australian High Court dismisses Covid BI test case appeals
IAG's shares halted trading after the insurer sought time to consider the impact of the dismissal of its appeal.
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- October 14 2022
Mapfre sells Philippines business to Aseana
The Spanish group has been closing its direct insurance business in Asia even as it expands its reinsurance arm.
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- October 14 2022
New Zealand’s August ‘weather bomb’ cost US$27m: ICNZ
Heavy rains in the South Island resulted in 3,165 general insurance claims.
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- October 13 2022
BIDV Insurance facing ‘moderate’ capital adequacy volatility: AM Best
The Fairfax-backed insurer, whose ratings were maintained, was affected by changes in cat risk strategy.
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- October 13 2022
Indonesia Re names Nusantara Re’s Widyo Primastowo as client market & treaty head
Jakarta-based Primastowo reports to managing director Delil Khairat and handles client management and GI treaty businesses.
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- October 13 2022
Opinion: Can reinsurers step up to Japan’s offshore ambitions?
Carriers are reluctant to provide capacity for offshore wind farm construction and operational risk covers.
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- October 13 2022
Nib to raise US$94m for acquisition war chest
The Australian health insurer acquired Maple Plan as part of its disability scheme expansion strategy.
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- October 12 2022
Allied World bolsters Singapore distribution with ex-Axa SME head
John Mestas has joined the global insurer in the Lion City as a vice president.
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- October 12 2022
Australia bracing for major flooding in Victoria and Tasmania
There are also severe weather alerts for large parts of south-east Australia.
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- October 12 2022
Fitch affirms A- rating, stable outlook for China Taiping’s UK subsidiary
The subsidiary's underwriting result was US$4.3m in 2021, compared to a loss of US$25.2m in 2020.
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- October 12 2022
China Merchants’ carve-out to create more agile P&C carrier
A combination of CMB Wing Lung Insurance and China Merchants Insurance will create a top-20 player with US$140m-plus GWP.
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- October 12 2022
Kakao Pay kick-starts insurance arm with cyber launch: report
The product is expected to shorten the time it takes to pay claims for online financial fraud by over two months.
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- October 11 2022
Liberty GTS hires trio of lawyers to boost Asia M&A underwriting
Damian Ng, Sanjeve Prakasam, who joins the Singapore office, and Alexandra Culas in Sydney will focus on warranty and indemnity insurance in the region.
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- October 11 2022
Gallagher continues Australian consolidation with McCluskey buy
This is the fourth acquisition in the country by the global broker in five months.
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- October 11 2022
Korea’s Construction Guarantee Cooperative benefitting from rising infrastructure spend
AM Best affirmed the financial strength rating of A+ and the long-term issuer credit rating of “aa-” to the government-designated surety underwriter.
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- October 11 2022
Asia needs to deliver ‘acceptable level of profitability’: Mapfre Re’s Javier Sánchez Cea
The Spanish reinsurer has made Asian expansion, especially China, a priority but expects the market to improve margins.
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- October 11 2022
Australian weather bureau forecasts summer of ‘above-average’ cyclones
There is a more than 70% chance of 11 or more tropical cyclones during the severe weather season, which this year witnessed one of the costliest nat cat events.
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- October 10 2022
Tower completes legacy build-out with Kiwibank deal
The New Zealand carrier will pay US$3.3m for the portfolio, which will be migrated to its flagship Direct channel.
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- October 10 2022
Luen Fung Hang Insurance gets over pandemic impact with 58% COR: AM Best
The Macanese P&C player leveraged its distribution to stay second in the market with a 22.8% share.
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- October 10 2022
Updated: icare turnaround continues as legacy deal put on ‘hold’
The state-owned insurer, which has been under pressure to reorganise, has announced a new claims model with an expanded panel of service providers.
