Country: Asia Pacific Page 194 / 512
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- November 23 2022
China Huanong on rating watch over rapid growth in risky assets: Fitch
The Chinese non-life insurer's risk-assets ratio nearly doubled in nine months to 49% by the end of Q3.
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- November 23 2022
Aon Indonesia appoints Inti Amaliah as head of reinsurance
Amaliah joins the global broker after a four-year stint with Willis Re.
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- November 23 2022
1.1 renewals: ‘There will be gaps in cover’, says Allianz’s Chris Townsend
‘While it is going to be a challenging environment into the second quarter of next year, there's a world of opportunity in the medium to long term.'
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- November 23 2022
Fosun mandates Deutsche Bank for Peak Re sale: report
The formal process has yet to kick off, and information memorandums to potential buyers are likely to be sent by year-end, the report said.
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- November 23 2022
Allianz to join Australian cyclone reinsurance pool in January 2023
The insurer said the average premium offered to existing customers exposed to cyclone and related flooding risk will be around 6% lower.
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- November 22 2022
Hanwha General’s performance helps outlook improve to ‘stable’: Moody’s
Lower claims on motor and long-term medical insurance have helped the Korean firm.
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- November 22 2022
MS&AD to reduce headcount by 6,300 by end of FY 2025
1,900 roles will go by the end of March 2023 as the Japanese giant charts out a three-point plan to improve earnings structure.
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- November 22 2022
RBNZ proposes to vet insurers’ senior management hires
The industry regulator wants to ensure proper assessments of the senior management candidates before their appointment.
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- November 22 2022
Korea set to relax insurance industry regulations
The regulator proposes to allow insurers to set up single-product subsidiaries, relax online marketing rules and raise the derivatives trading ceiling.
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- November 22 2022
Korean P&C market ripe for broker expansion
Global and local firms are set to take advantage of insurers' focus on bottom lines and a more sophisticated value chain.
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- November 21 2022
CBIRC tightens insurance security fund rules
The new rules that will come into effect on December 12 will replace the risk-oriented rate system of the fund with a flat-rate system.
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- November 21 2022
Markel grows Hong Kong office with financial lines specialist hire
Former AGCS underwriter Crysten Fok has joined the Lloyd’s syndicate’s SAR office.
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- November 21 2022
Allianz appoints Alan Smee as Sri Lanka CEO
Smee will replace Gany Subramaniam, who moves to Singapore as head of commercial sales
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- November 21 2022
QBE ups FY 2022 nat cat estimate by US$98m
The new figure is US$1.06bn as 'elevated catastrophe activity' continued in H2.
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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.
