Country: Asia Pacific Page 93 / 501
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- March 6 2024
Analytics: Motor results shore up Korean majors’ FY23 underwriting performance
While the carriers have seen strong premium growth in the past year, their long-term and commercial businesses' underwriting returns remain under pressure and weighed on overall results.
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- March 6 2024
China Re, PICC team up to form rule-setting body for typhoon, flood risks: report
The state-backed working group seeks to build a risk assessment platform to offer tailored insurance coverage for the two perils.
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- March 5 2024
Fitch cuts Construction Guarantee’s outlook to stable on member firm’s debt woes
The rating agency has maintained its "A" rating due in part to its strong underwriting performance. Its combined ratio averaged 62% during FY 2020-2022.
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- March 5 2024
Cyber, marine cargo and property to drive Singapore wholesale market in 2024: Howden
Claims inflation, war/conflict and talent are the three factors most likely to impact the market in the coming year, according to the broker's survey of insurers in Singapore and Malaysia.
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- March 5 2024
Assured Guaranty hires managing director for Australia expansion
The financial guarantee insurer has appointed Melissa Gribble as part of its move to grow origination activities in the country with a focus on the infrastructure, utilities and structured finance markets.
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- March 5 2024
Mustard Underwriting partners with Sovereign Insurance Australia for personal lines roll-out
The MGA will start with home and contents, landlords, contents cover and motor products for the Australian and New Zealand markets.
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- March 5 2024
Arch Insurance Australia hires professional indemnity expert
Melbourne-based Aaron Green, founder of a PI-focused broker for 10 years, has now joined the insurer as a senior underwriter.
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- March 4 2024
Miller taps Marsh for Asia head of operations
Singapore-based Frédérique Champvillard will support the firm’s strategic expansion into Asia with a focus on client service.
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- March 4 2024
Charles Taylor expands APAC aviation team with two senior hires
Singapore-based Bob Battoo returns to Charles Taylor as managing director to lead aviation risk and claims team for the insurance and leasing markets; Dennis San Jose joins to launch aviation asset management service in the region.
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- March 4 2024
Insured losses from Australia summer cat events reach US$1bn: ICA
While damage from both Jasper and the Christmas and New Year storms was widespread across three states – Queensland, New South Wales and Victoria - the average claim cost was under A$10,000, lower than from similar events.
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- March 4 2024
Aon appoints Asia CFO Rishi Mehra as head of India to consolidate capabilities
Mehra, who will relocate to Mumbai, will report to APAC chief executive Anne Corona and work closely with the broking and talent consulting CEOs as part of the "Aon United" strategy.
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- March 4 2024
Fairfax-backed Go Digit gets Indian market regulator’s approval for IPO: report
The digital insurer is targeting a May public offering, which will be a mix of US$150m in new shares and a secondary sale of 109m shares by founding shareholders.
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- March 4 2024
Hong Kong Federation of Insurers commits to carbon neutrality by 2050 with climate charter
With 33 inaugural signatories, the climate charter introduces actionable goals across claims management, underwriting, societal engagement, investments, governance and disclosure.
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- March 4 2024
New capacity ‘crucial’ for Asia’s riskier nuclear property market
As Asian countries move to embrace nuclear generation in line with their net-zero goals, the region needs new insurers to tame heightened risks from nuclear property and liability, says Marsh.
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- March 4 2024
Taiwanese regulator set to finalise rules to ease insurers offshore bond issuance: report
The amendments seek to allow Taiwanese carriers to issue regulatory bonds via SPVs, which will reduce related tax costs and help them cope with IFRS 17 implications.
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- March 4 2024
Asei Indonesia to further reduce credit insurance exposure: Fitch
The rating agency has affirmed the carrier's 'A (idn)' rating with a stable outlook to the Indonesian insurer.
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- March 1 2024
Scandal-hit Japanese carriers’ disciplinary actions to see senior management pay cuts, resignations
At Sompo Japan CEO Giichi Shirakawa and deputy Satoshi Iitoyo have stepped down, while all four Japanese insurers have announced reduction in the remuneration of senior executives for a limited period as well as strengthening of their audit systems.
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- March 1 2024
Robust pricing, investments to boost FMG Insurance NZ earnings: AM Best
AM Best has affirmed an insurer rating of A (excellent) with a stable outlook, though a US$158m bill from the twin weather events last year burned a hole through its operating results.
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- March 1 2024
Delta Insurance Group hires new group COO
Auckland-based Nathan Barrett has held various leadership roles across underwriting and claims, product and pricing over the past 20 years.
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- March 1 2024
Korean Re Switzerland promotes Michael Hinz to CEO
Currently as chief underwriting officer, Hinz will succeed incumbent Markus Eugster who is stepping down after more than five years with the reinsurer.
