Country: Asia Pacific Page 301 / 603
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- August 29 2022
‘Unprecedented’ Pakistan flooding triggers US$10bn damage
Large P&C carriers such as Adamjee Insurance and United Insurance could see significant claims.
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- August 29 2022
CPIC P&C combined ratio improves to 97.2% in H1 2022
P&C GWP saw a 12.3% increase driven by agriculture and health businesses.
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- August 29 2022
APAC reinsurers may see rate hikes for 2023 renewals: AM Best
Regional carriers posted annual average net premium growth of 8.7% between 2017 and 2021.
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- August 29 2022
Asian fine art insurance market shakes off pandemic blues
As insurers grow their teams in the region, the shift to online auctions has created new kinds of risks.
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- August 29 2022
Insurtech Igloo launches Indonesian platform
It will offer motor and accident insurance and allow intermediaries to provide products.
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- August 27 2022
Five major Chinese (re)insurers likely to be hit by drought: source
IAN understands that PICC, China Insurance (CIC), China Life P&C, CPIC and China Agricultural Re all face claims.
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- August 26 2022
Australia’s P&C underwriting profits rose 328% on back of reinsurance recoveries: APRA
Net incurred claims fell 5.1% to US$18.2bn for the year ending June 30.
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- August 26 2022
QBE veteran to take reins at 360 Underwriting Australia
Jason Clarke is set to join as CEO at the Lloyd's coverholder and specialty MGA in November.
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- August 26 2022
Tune Protect sees strong H1 premium growth but losses widen
Covid claims at its Thai subsidiary drove up total claims to US$10.7m.
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- August 25 2022
Former regulator to lead Crawford’s Japan cyber team
Norikatsu Suzuki, who was a deputy director at Financial Services Agency, will help expand services in Asia.
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- August 25 2022
AM Best revises Covid-hit Taiwan non-life sector outlook to negative
Gross pandemic policy claims of US$2bn over the last six months have left carriers struggling to pay out.
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- August 25 2022
Australian market braces for ‘triple-dip’ La Niña
Carriers are buckling up for yet another summer of severe nat cat claims.
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- August 25 2022
Tencent takes 32% stake in Samsung P&C China
The tech company becomes the second largest shareholder after CBIRC approved the insurer's plan to more than double its registered capital.
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- August 24 2022
Unprecedented rise in need to place risks internationally: AUB Group CEO
AUB saw 22.2% profit growth in FY 2022 as M&A and rising GWP drove Australia revenues, but NZ earnings hit by BWRS challenges.
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- August 24 2022
PSC agrees US$5.4m Hong Kong broker deal; posts 30% EBITDA growth
Underlying revenue in FY 2022 grew 22.8% to US$175.4m including 13% of organic growth.
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- August 24 2022
Japan infrastructure spending set to spur property GWP growth
The country's general insurance market set to reach US$133bn in 2026, GlobalData forecasts.
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- August 24 2022
ILS offering sizes shrink as funding dwindles
Rising interest rates, stronger dollar cast down the Asian cat bond market.
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- August 23 2022
Ping An’s H1 P&C combined ratio deteriorates to 97.3%
The operating profit for the segment fell 22.3% to US$1.2bn.
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- August 23 2022
Korea’s new standards regime and IFRS 17 to squeeze insurers’ capital buffers: Fitch
K-ICS will not materially change the underlying risk structure and will have limited rating impact.
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- August 23 2022
Specialty MGA Delta handed favourable AM Best review
Delta is one of the first MGAs to be reviewed by a rating agency.
