Country: Asia Page 133 / 429
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- May 22 2023
Japan’s big 3 count on overseas recovery as domestic results take nat cat hit
Tokio Marine, MS&AD and Sompo expect a revival in international units to drive FY 2023 performance.
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- May 20 2023
IRDAI relaxes surety bond rules
The regulator has reduced the solvency requirement and removed the 30% exposure ceiling.
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- May 19 2023
Sompo Japan COR deteriorates to 100.9% in FY 2022
Sompo International improves underwriting profit by 25% over last year despite US$553m of nat cat losses.
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- May 19 2023
MS&AD’s Japan non-life units fall to US$110m underwriting loss
The Tokyo-headquartered giant saw local cat losses increase 104% year-on-year at its two domestic P&C players, while MS Amlin returned an underwriting profit of US$78m.
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- May 19 2023
Tokio Marine books US$760m FY 2022 Covid losses from Taiwan
The group also saw losses of US$570m from two typhoons and a huge hailstorm in Japan, as overall FY 2022 profit climbed 1.7% to US$2.72bn.
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- May 19 2023
Sony to spin off financial services arm housing its insurance businesses: report
Sony Financial Holdings, to be listed on the Tokyo Stock Exchange, owns the P&C business Sony Assurance and life carrier Sony Life.
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- May 19 2023
Peak Re director Andrew Souter departs
Souter was hired in 2020 as head of global markets and ILS, and was named director, ANZ and Japan, after CUO Piotr Nowakowski took charge of the P&C business team in August 2022.
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- May 19 2023
Guy Carpenter swoops for Howden Tiger Hong Kong leadership team: sources
IAN understands that the move includes Stephen Warwick, Howden Tiger’s head of treaty for Asia Pacific.
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- May 19 2023
Philippines’ state Oriental Mindoro pushes for climate risk agri cover
Only one-third of over 10 million farm owners are covered by the country's state agricultural insurer PCIC.
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- May 18 2023
Argenta elevates Viji Ninan to Asia CEO
Singapore-based Ninan will oversee operations of the Singapore and Australia branches of Syndicate 2121.
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- May 18 2023
Travel cover in the fast lane with higher premiums and attachment points
The average rate increase in the past 18 months reached 15% in the Pacific, high single digits in South-East Asia and India, with similar trends expected in China and Japan.
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- May 17 2023
bolttech closes Tokio Marine-led US$196m Series B round with US$1.6bn valuation
MetLife and Khazanah among investors in the latest round by the insurtech, which will use the proceeds for organic and inorganic expansion.
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- May 17 2023
Tokio Marine withdraws from select Pacific markets: report
The insurer exits Guam and the Northern Mariana Islands as margins deteriorated in 2022 as medical claims rebounded.
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- May 17 2023
Aon launches climate hub in Singapore
The company will increase its headcount in its Centre for Innovation and Analytics (ACIA) in Singapore from the existing 180 employees to over 350.
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- May 17 2023
Opinion: Will the APAC trade credit market rise to the looming insolvency challenge?
With corporate risks expected to rise across Asia, carriers need to up their game and evolve more sophisticated methods of risk assessment.
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- May 17 2023
Howden appoints APAC chair amid global management restructure
Mark Wood takes on the insurance broking role with Goh Chye Huat and Matt Bacon to lead Asia and Pacific, respectively, as the broker brings retail, specialty, reinsurance and underwriting under group CEO David Howden.
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- May 16 2023
Chubb Australia promotes Ryan Spettigue to global client executive
Spettigue was earlier the national leader for major accounts division, casualty, Australia, responsible for the insurer’s key clients.
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- May 16 2023
Hannover Re questions Taiwanese cedents’ hefty Covid bill
The reinsurer says it is collecting underwriting information to assess the validity of many pandemic claims over the last few years.
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- May 15 2023
Vietnam National Reinsurance to see improved pricing, underwriting growth: AM Best
Underwriting results improved in 2022, driven by favourable attritional and catastrophe loss experience, and a reduced expense ratio.
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- May 15 2023
Allianz Asia Pacific COR improves to 95.1% in Q1
Operating profit in the region improved 52% to US$45m, while the insurer's Australian arm returned to profit.
