Country: Asia Page 123 / 479
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- July 4 2024
Korea to provide US$2bn trade insurance as ‘AI supercycle’ looms: report
South Korea's Trade, Industry and Energy Minister Ahn Deok-geun said that the demand for power from AI utilisation has boosted the power device market in a supercycle through which the country can bolster its exports.
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- July 4 2024
HKIA, HKFI welcome proposal to introduce re-domiciliation regime
A re-domiciliation regime will put Hong Kong in sync with developments in other (re)insurance hubs such as Singapore, and attract more insurers to set up their headquarters in the city.
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- July 3 2024
Howden Re enters Japanese market with Kentaro Tada in charge
The reinsurance broker has also announced a with Tokyo-based ILS boutique Keystone ILS Capital.
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- July 3 2024
S&P affirms “stable” outlook on Allianz Fire and Marine Insurance Japan
Ratings are based on the likely support the Japanese insurer would get from the parent company during times of financial stress.
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- July 3 2024
Sedgwick promotes Aruna Chandrapalan to forensic accounting services partner in Asia
With over 20 years of experience, Chandrapalan has covered complex claims related to business interruption, forensic accounting, pre-loss reviews, product recalls and stock valuations.
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- July 3 2024
HDI Global strengthens Japan branch with two senior hires
Yasuyuki Harada joins as deputy general manager, market management for its Japan branch; while Clara Malcolm has been promoted to senior underwriter, liability and specialty, both based in Tokyo.
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- July 2 2024
Japan hailstorm stands as only billion-dollar Asia nat cat event in Q2: Cresta
Together with Japan’s Noto earthquake, the world's nat cat events with billion-dollar insured loss totalled four in the first half of 2024.
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- July 2 2024
China Life P&C H1 cumulative claim payment rose 12% to US$4.6bn
The P&C arm of the world's second-largest life insurer said the bulk of 2024 H1 cumulative claim payment came from motor insurance, as it settled US$88m in nat cat related claims.
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- July 2 2024
AIG elevates Louise Wai as head of commercial property, Singapore
Wai rejoined AIG in April 2024 as underwriting manager for commercial property in Singapore. In her new role she reports to Scott Spaven, AIG Singapore president and CEO.
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- July 2 2024
RGA, Tongyang Life ink first cross-jurisdictional coinsurance deal in Korea at US$144m
The deal, which will allow an RGA subsidiary to reinsure a US$144m block of life policies, is expected to help Tongyang Life respond to future interest rate volatility.
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- July 2 2024
Lockton Singapore taps WTW’s Sung Wook Han as regional head of marine for Asia
Han will relocate from London to manage marine teams across Asia with a special focus on Singapore.
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- July 2 2024
Koo Kang Wuu joins Munich Re Syndicate Labuan as managing director
With a background in direct and facultative (re)insurance, Koo will be responsible for driving specialty insurance growth in Malaysia.
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- July 2 2024
APAC pricing stabilises at 1.7 renewals as global capacity hits record US$695bn
With more capital coming to the table, reinsurance rating reductions were in order, though loss-affected territories bucked the wider trend.
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- July 1 2024
BMS expands Japan M&A insurance team with a senior appointment
Tokyo-based Ryo Iizuka, who joins as director of the private equity, mergers & acquisitions, and tax, will report to Tim Hewitt, head of BMS Japan, and work alongside associate Kaori Iwai.
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- July 1 2024
Miller hires veteran Kazuhiko Shinkai as head of non-marine Japan strategy
Shinkai joined from Japanese multinational group Itochu Corporation where he held a range of management roles.
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- July 1 2024
Hong Kong risk-based capital regime rollout marks milestone: Insurance Authority
The introduction of the RBC regime will strengthen the financial soundness of insurers and solidifies Hong Kong’s role as a global insurance hub, the regulator said.
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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 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 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.
