Country: Asia Page 132 / 429
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- May 26 2023
Labuan struggles to reignite interest as global insurance hub
Covid-19 may be over but global capital still isn’t returning to Malaysia’s offshore centre.
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- May 26 2023
Japan, Korean insurers brace for claims from ‘US$1bn’ Typhoon Mawar in Guam
There are 11 international hotels on the island which have BI cover. Crawford is sending 40 adjusters from Asia.
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- May 25 2023
Tencent-backed Hong Kong reinsurer FuSure to stay profitable with a single-digit return
The non-life reinsurer reported net profits in 2022, breaking even one year earlier than its original plan, says AM Best.
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- May 25 2023
Singapore insurers report 58% dip in 2022 profits despite premium growth: MTI
The 2022 economic survey noted that general insurers in the Lion City reported a 9.7% growth in GWP while the overall finance and insurance sector in the country shrank by 0.9%.
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- May 25 2023
Going to war on cyber wordings
As Lloyd’s war exclusions cause disquiet among insureds and reinsurers, the market is set to see a battle royale with APAC in the thick of it.
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- May 24 2023
Adva launches US$150m per cover marine war risk facility in Asia
The facility aims to ‘plug the gap’ in coverage for voyages to and from designated war risks exclusion zones.
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- May 24 2023
Reliance General Insurance promotes Namita Rohra to liability, credit and specialty head
Mumbai-based Namita Rohra was earlier segment head liability for cyber and specialty lines in Reliance General.
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- May 24 2023
Manila Central Post Office insured for US$11m with state-owned GSIS
The Government Service Insurance System (GSIS) will provide a loan to reconstruct the important building damaged in a fire on May 21.
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- May 24 2023
US broking giant Brown & Brown enters Asia with Kentro buy
The sixth largest global broker eyes expansion in the region through MGA Nexus and specialty broker Capstone.
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- May 24 2023
Indonesia carriers need to raise capital to meet new norms
OJK is proposing raising the minimum paid-up capital for non-life insurers to US$67m by 2028, from US$10m currently.
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- May 23 2023
RenaissanceRe to buy Validus Re from AIG for US$3bn
The transaction includes AlphaCat Managers and Talbot Treaty reinsurance business, but AIG will retain Talbot Underwriting and Western World.
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- May 23 2023
Uplift in consumer sentiment helps APAC carriers combat reinsurance costs, inflation: Fitch
Primary insurers have been able to pass on higher premium rates to customers, even double-digit hikes in places like Australia, without affecting business retention.
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- May 23 2023
Environmental liability: Why are take-up rates for environmental impairment liability insurance low in Asia?
Lack of awareness regarding coverage gaps in general liability and property policies and a limited ESG focus haven't helped.
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- May 23 2023
Brown & Brown acquires Nexus and Xenia owner Kentro Capital
The acquisition gives the US broker a foothold in Asia through MGAs Nexus and Spectrum, and broker Capstone.
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- May 23 2023
Axa XL looks to tap into Asia corporate mindset shift
The French (re)insurer sees huge potential in the region with eight Asian markets expected to grow 11% per year from 2021 to 2025.
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- May 23 2023
Zurich Hong Kong appoints David Chiu as chief claims officer
A Zurich veteran for the past 10 years, Chiu has held several leadership roles in the Hong Kong claims team.
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- May 22 2023
Aspen hires Tay Boon Chuan as head of Singapore; Beatrice Morley to relocate
Veteran Tay is joining after 12 years at Tokio Marine Kiln, most recently as Asia treaty team lead, while Morley, Aspen's global head of casualty, is leaving for London.
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- May 22 2023
National Administration of Financial Regulation replaces CBIRC as new China regulator
The newly constituted body, which began operations on May 18, will regulate the financial services industry, including insurance and banking sectors.
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- May 22 2023
Starr targetting Korea market entry: report
The carrier will seek to enter the country’s travel and accident insurance markets from 2024 if it gets a licence later this year, a BusinessKorea report said.
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- May 22 2023
Fubon Insurance reports US$140m loss for Q1 2023
The Taiwanese P&C player says it has raised US$523m and that its current capital position exceeds legal regulatory requirements.
