Country: Asia Pacific Page 75 / 510
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- July 1 2024
Gen AI prophecy turns reality as insurers count cost benefits
Artificial intelligence, blockchain and embedded solutions are delivering tangible cost savings and enabling more competitive premium rates, senior insurance executives told an industry forum.
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- July 1 2024
Howden Specialty ropes in Kenny Moyes from Aon for APAC director role
Moyes joined the global broker from Aon Reinsurance Asia, where he was a facultative director.
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- June 30 2024
China revises emergency response law to alleviate nat cat shocks
The revised law calls for the establishment of a nat cat risk insurance system based on market principles, and instruct local governments to take out personal accident insurance for rescue teams.
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- June 30 2024
AIG hires Stephen Hanna as head of energy and construction, Pacific
Sydney-based Hanna joins after seven years at Chubb Insurance as ANZ manager, energy and technical lines.
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- June 28 2024
Insured losses from Japan hailstorms set to top US$1bn: Guy Carpenter
Hail had been perceived in the past as a minor peril in Japan, but recent hail events from 2022 to 2024 have shown that Japanese hailstorms can generate substantial losses.
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- June 28 2024
IAG secures US$2.8bn 5-year nat cat cover and US$450m long-tail reserve protection
The Australian insurer has bought the additional reinsurance protection from Berkshire Hathaway and Canada Life Re, while the long-tail adverse development cover is provided by Enstar.
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- June 28 2024
Suncorp’s US$3.2bn bank sale to ANZ gets treasurer’s greenlight
The approval by Treasurer Jim Chalmers has now set in motion the final completion of the deal, now expected by end of July.
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- June 28 2024
Carriers look to Asia, Europe for cyber growth as North America addresses challenges
With the US cyber market under pressure, the market in the region needs to hold its nerve if cyber combined ratios are to remain respectable as it navigates the second half of the year.
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- June 27 2024
India government may delay privatisation of three general insurers: report
The government will provide the state-owned carriers capital support of US$600m, and review business plans to strengthen their balance sheets.
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- June 27 2024
Japanese non-life industry underwriting income tops US$1bn in 2023: GIAJ
The industry’s combined ratio in 2023 decreased by 0.6 percentage points to 96.9% from a year ago, data from the industry body shows.
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- June 27 2024
Japanese insurers may raise voluntary motor premiums in 2026: report
General Insurance Rating Organisation of Japan, the country's only premium rating organisation, plans to raise its reference premium rates for voluntary motor insurance by an average of 5.7% as early as January 2026.
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- June 27 2024
UIB Asia expands regional team with senior Aon and Marsh hires
The reinsurance broker has brought in Aon's Richard Oh as head of operations and marine reinsurance and Marsh's Tong Nee Saw as head of the facultative and specialty division.
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- June 27 2024
Korean battery plant fire claims likely to leave reinsurers unscathed
The primary insurers, KB Insurance and DB Insurance, are expected to retain the losses from the blaze at the Aricell unit as property and liability claims are expected to be relatively low, InsuranceAsia News understands.
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- June 26 2024
Zurich to buy AIG travel insurance business for US$600m
The Swiss insurer will add AIG's Travel Guard brand to Cover-More, which will take the business to a combined annual GWP of about US$2bn.
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- June 26 2024
SBI General Insurance appoints former banker Naveen Jha as managing director and CEO
Jha was formerly deputy managing director of the insurer's parent, state-owned lender State Bank of India.
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- June 26 2024
Mitsui Sumitomo plans to merge continental European subsidiaries
The Japanese insurance group has announced that it will integrate MS Amlin Insurance and MSIG Insurance Europe by summer next year.
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- June 26 2024
HDI Global hires Natalie Miladinski from Chubb for APAC cyber build-out
Sydney-based Miladinski has been appointed cyber underwriting manager for Asia Pacific.
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- June 26 2024
HDI Global combines ANZ commercial, specialty leadership with Stefan Feldmann in charge
Feldmann has been handed the additional charge after Mark Fleiser left the business following an organisational restructure in the region.
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- June 26 2024
Zurich aims to grow India headcount 40% following Kotak acquisition: report
In three years, the insurer will hire people in commercial underwriting, distribution and digital development, according to APAC chief executive Tulsi Naidu.
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- June 26 2024
‘Normalcy’ returns to Australia, New Zealand 1.7 renewals
Property cat renewals are seeing relatively flat pricing on bottom and middle layers and small risk-adjusted decreases in top layer pricing, brokers tell InsuranceAsia News.
