Country: Asia Pacific Page 48 / 501
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- August 30 2024
Coverforce brings on board Gareth Carpenter as national broking manager
Sydney-based Carpenter is set to enhance the broker's mid-market and schemes and facilities' capabilities by overseeing NSW and Victoria business.
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- August 29 2024
Australian carriers’ H1 2024 capacity ample except for PFAS, US exposures: Marsh
The first half of the year saw improvement in market competition and the return of insurer choice for buyers, which had not been generally seen since 2017.
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- August 29 2024
Korea’s FSC urges insurers to speed up claims payment
Head of the FSC Kim Byoung-hwan also called on insurers to digitalise their insurance claim services by October.
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- August 29 2024
Philippines regulator imposes money laundering risk assessments on insurers, brokers
The Insurance Commission issued the guidelines that require institutional risk assessments on insurers and brokers at least once very two years.
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- August 29 2024
AM Best upgrades Peak Re’s outlook to stable from negative following Fosun’s revised credit condition
The rating agency has also affirmed the rating of Peak Re Hong Kong and its subsidiary Peak Reinsurance AG (Switzerland) at A- (excellent) reflecting its very strong balance sheet, adequate operating performance.
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- August 29 2024
Korea’s FSC might review proposed change in insurers’ capitalisation rules: report
The Financial Supervisory Service had proposed that, starting next year, the discount rate for market valuation of insurance liabilities will be based on the 30-year government bond rate instead of the 20-year rate.
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- August 29 2024
Steadfast FY 2024 net profit climbs 22% on acquisition growth
Underlying net profit rose to US$171.3m, as new business acquisitions and equity investments contributed 55% of the broking group's operating profit growth.
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- August 29 2024
Typhoon Shanshan makes landfall in southern Japan as auto plants shut down
The typhoon landed in Kagoshima prefecture, leading to the shutting down of plants by Toyota and Nissan, cancellation of hundreds of flights and suspension of high-speed train services.
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- August 29 2024
Euclid Transactional confirms Asia Pacific launch
The M&A-focused MGA's plan to launch services in Asia and to appoint Alice Ho as head of APAC was first reported by InsuranceAsia News last August.
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- August 29 2024
APRA warns against inadequate security testing coverage amongst insurers
The regulator urges insurers to reassess new cyber vulnerabilities and threats. Its second missive sent out on cyber security coincides with the country's recent alliance with New Zealand to deal with future attacks as concerns about Chinese state-backed cyber hacking grow.
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- August 29 2024
Great Eastern names ex-HSBC veteran Greg Hingston as CEO
Succeeding Khor Hock Seng who is retiring in October, Hingston joins from HSBC after spending 18 years with the bank in several senior roles, including CEO of global insurance and partnerships.
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- August 28 2024
PICC P&C H1 underwriting profit down 5% as liability insurance losses bite
Underwriting profit for China's largest P&C insurer totalled US$1.26bn, as COR edged up 0.4 percentage points to 96.2%
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- August 28 2024
Tune Protect H1 2024 insurance revenue drops 15.2% to US$43.7m
Its COR deteriorated to 107.5% versus 95.4% in H1 2023 due to the higher net incurred claims and attributable expenses.
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- August 28 2024
Peak Re reports US$124.2m profit in H1 2024, COR at 84.9%
The reinsurer has reported GWP of US$847.9m in 2024 H1, a slight 1.8% year-on-year increase, according to the company's unaudited earnings release.
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- August 28 2024
Data breach by Japan’s big 4 insurers affects over 2 million customer records: report
Tokio Marine & Nichido Fire Insurance, Sompo Japan, Mitsui Sumitomo Insurance, and Aioi Nissay Dowa Insurance will need to submit reports to the financial regulator by the end of this week.
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- August 28 2024
Vietnam’s PVI Insurance gets greenlight to raise charter capital to US$157m: report
It is the second capital increase approved by the regulator in five months, as Vietnam's largest non-life insurer continues to grow its market share.
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- August 28 2024
Australian insurers urged to limit use of external experts to improve claims assessments
Carriers should not rely on external experts beyond their scope of expertise, as it could lead to poor claims decisions and disputes, according to an inquiry into the practice by six general insurers by the General Insurance Code Governance Committee.
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- August 28 2024
Aon Hong Kong takes Naureen Rasul as director-financial services and professions group
In her new role, Rasul will be instrumental in driving the broker's growth in financial lines and cyber.
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- August 28 2024
Conduct exclusion wordings get scrutinised as Segantii’s insider dealing case unfolds
Ongoing criminal proceedings against one of Asia’s oldest hedge funds have highlighted the need for managers to constantly review policy coverage, limits and carriers' claims handling capability, according to financial lines underwriters.
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- August 28 2024
Generali’s Indian JVs to rebrand following regulatory approvals on stake sale: report
The branding overhaul would see "Future" omitted from the name, and will likely take place after regulators approve the stake sale by Future Enterprises Limited, according to the local media.
