Country: Asia Page 125 / 408
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- February 10 2023
East Asian insurance markets may have ‘bottomed out’
Carriers in Japan, China and Korea are on a recovery path, however, nat cats, new solvency regimes, and inflation are key challenges.
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- February 10 2023
Zurich APAC COR improves to 91.7% as P&C GWP jumps 18%
APAC premiums grew to US$3.47bn in FY 2022 as the region saw a strong travel insurance recovery.
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- February 9 2023
Marsh McLennan in Asia leadership reshuffle
David Jacob has been promoted to CEO of Marsh McLennan Asia, while James Addington-Smith takes charge as Marsh Asia president.
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- February 9 2023
French consortium to acquire CCR Re majority interest
New owners will infuse US$215m in fresh capital into the reinsurer, which derives around 25% of its premium income from Asia.
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- February 9 2023
Aon names Stephen Rudman as Asia head of marine
Rudman, who joins from Gallagher, will be based in Singapore and reports to Paul Young, head of commercial risk solutions for Asia.
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- February 9 2023
Hannover Re cuts APAC premium volume by 21.6% in 1.1 renewals
The German reinsurer cut back on proportional treaty in Malaysia and China, but XOL premiums filled some of the void.
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- February 8 2023
Integra signs partnership with Vietnam’s VIA
The loss adjusters will collaborate on losses emanating from a host of specialty lines.
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- February 8 2023
Light at end of tunnel for Taiwan’s Covid blues
P&C carriers paid out US$7bn in 2022, however, the expiration of policies in June could be a turning point for the market.
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- February 8 2023
Japan’s hardening markets force cedents to review reinsurance plans: S&P
The consolidated net income of Tokio Marine, MS&AD, and Sompo will decrease year on year in FY 2022.
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- February 7 2023
Andrew Harris to lead reinsurance for Oneglobal Singapore
Market veteran Harris will provide capital and placement solutions for climate change-affected nat cat risk exposures across Asia Pacific.
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- February 7 2023
Sam Cheng joins Axa XL as Hong Kong head of financial lines
Cheng, who has over 20 years of P&C experience, will oversee the development of international financial lines across Greater China.
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- February 7 2023
India’s appeal grows amid China pessimism
Global reinsurers and Lloyd's syndicates hone in on the market as the IRDAI seeks to cut red tape.
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- February 7 2023
BYD acquires online insurer for US$530m: report
The deal was done on January 31 with the EV maker agreeing to acquire 100% equity of the carrier, which had entered bankruptcy last year.
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- February 6 2023
ICICI Lombard cuts down underwriting losses: AM Best
The global rating agency has affirmed a financial strength rating of B++ (good) with a stable outlook.
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- February 6 2023
Retro squeeze pushes Asia reinsurers to more tailored cover
Portfolios exposed to the US, Japan and loss-hit territories saw the highest prices, increased retentions and capacity withdrawal at 1.1. renewals.
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- February 6 2023
AM Best downgrades Fubon Insurance’s credit rating as Covid losses mount
The Taiwan P&C carrier's rating has been changed to “A” (excellent) from “A+” and is under review with negative implications.
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- February 6 2023
Asia Q4 2022 property pricing up 2% as casualty fell 1%: Marsh
Cyber rates increased 22%, an improvement over previous quarters, as more capacity entered the market.
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- February 6 2023
AM Best hands Bangkok Insurance B++ rating, withdraws after request
The Thai insurer has requested to no longer participate in AM Best’s rating process.
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- February 3 2023
Hong Kong’s MHK buys Lombard International Singapore
The deal is specialty (re)insurance and HNW life broker MHK Insurance Services' first overseas M&A foray.
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- February 3 2023
India budget snub a wake up call for United India, Oriental and National
Market experts suggest the decision not to allocate any more capital is part of a plan to merge the P&C players with LIC.
