Country: Asia Pacific Page 81 / 522
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- July 22 2024
Indonesian reinsurer Maipark’s profitability to sustain despite nat cat risk: Fitch
Fitch Ratings has upgraded its outlook on the Indonesian reinsurer to "positive" from "stable" while affirming its "A" rating.
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- July 19 2024
Income to benefit from Allianz’s global expertise and potential synergies: Fitch
The proposed acquisition is fully in-line with Allianz’s strategic objectives to grow inorganically in property and casualty, the rating agency said.
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- July 19 2024
Agile appoints Matthew Rowan as group risk and compliance officer
In his new role, Sydney-based Rowan will oversee both the syndicate service company and MGA operations, handle the claims unit and work with broking partners.
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- July 19 2024
Gallagher Re reshuffles APAC leadership as Mark Morley elevated to deputy chairman international
Mark O'Brien will take over as managing director of Asia Pacific, while Morley will continue to oversee the region as chairman for APAC.
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- July 19 2024
China Huanong P&C downgraded for poor capital raising ability
The global rating agency has downgraded the carrier's rating to 'BBB-' from 'BBB' with a negative outlook due to investment losses.
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- July 19 2024
Hyundai Marine & Fire Insurance’s long-term line results to improve: AM Best
The rating agency has affirmed the carrier's financial strength rating of A (Excellent) and the long-term issuer credit rating of “a” (Excellent) with a stable outlook.
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- July 19 2024
South Korea’s MG Non-Life insurance gets no bidder third time in a row
Private equity firms JC Flowers and Dayli Partners, which participated in the preliminary bid in April and conducted due diligence on it, have dropped out of the deal.
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- July 19 2024
South Korea’s ‘heaviest-in-200-years’ rain to lead to motor, crop losses
The event is likely to see reinsurers introduce coverage limits for parking lots and trigger pay-outs from the government’s agricultural and fishery disaster reinsurance program.
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- July 19 2024
Marsh’s Pacific senior leaders Andrew Fluitsma and John Mutton depart
Mutton, who was the MD and head of corporate and commercial, has been on gardening leave since March, while former Honan CEO Fluitsma, who took over the role in March, is understood have left as well, IAN understands.
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- July 18 2024
Lockton opens Adelaide office, Matthew Linke, Andrew Thornton join as directors
The new office is part of its South Australia growth strategy, which aims to strengthen its existing workers’ compensation claims and injury management consulting expertise.
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- July 18 2024
LM Re sets up in Australia with Aon’s Mark De La Mare in charge
The Liberty Mutual reinsurer will replace ARUS MGA that previously managed its Australasia portfolio written through Lloyd’s.
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- July 18 2024
Specialty MGA Qubit ropes in Arbol’s Peter Xia as chief actuary, reinsurance
New Jersey-based Xia joins from parametric and climate specialist Arbol where he was chief pricing actuary.
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- July 18 2024
Howden Hong Kong takes Marsh’s Flora Fong as executive director for business strategy and growth
In her new role, Fong will engage with large, complex and multinational clients and drive discussions on critical topics such as climate risk and resilience, energy transition, digital transformation, cyber and political risks.
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- July 18 2024
Zurich’s Maureen Ung joins Everest as head of claims, Singapore
Ung has been Zurich's chief claims officer since August 2022.
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- July 18 2024
Market dynamics positive despite geopolitical, climate risks headwinds
Severe weather events, projected to rise by 5-7% every year, geopolitical unrest, and supply chain disruption are the main systemic perils that put pressure on the insurers, according to SwissRe Corso CUO Kera McDonald.
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- July 18 2024
Asia reports lower than average economic losses due to perils in H1 2024: Gallagher Re
An active first half of 2024 saw the global economic losses at US$128bn, close to the decadal average at US$133bn.
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- July 18 2024
Virtual asset insurance to become mandatory in Korea from tomorrow
Local media reports suggest carriers are charging premiums ranging from 5% to 12%.
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- July 18 2024
Texel names Angela Chang Asia MD as William Shaw assumes global role
Shaw will relocate to London as deputy CEO of the political risk and credit specialist broker.
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- July 17 2024
Allianz makes US$1.6bn offer for 51% of Singapore’s Income Insurance
The offer is subject to the approval of the shareholders of Income Insurance for the amendments to the constitution and the proposed name change.
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- July 17 2024
Malaysian Re proposes new global climate models in assessing South-East Asia climate risk
The company's most recent report suggests that newer climate models, which acknowledge global warming, may be more effective in predicting climate losses than legacy models that only rely on historical weather data.
