Country: Asia Page 30 / 394
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- August 22 2024
Central Bank of India wins bid for minority stake in Generali’s Indian JVs
The state-owned lender will acquire the stakes held by the insolvent Future Enterprises in the life and P&C businesses majority owned by the Italian insurance giant for a reported US$60.5m.
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- August 22 2024
Mega Insurance COR up 10 points to 97% as credit, motor claims climb
Fitch Ratings has affirmed an insurer rating of 'A+ for the company with a stable outlook as its GWP rose 75% in 2023.
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- August 21 2024
NFRA seeks to improve nat cat response through new insurance assessment system
The assessment system is intended to improve the country’s response mechanism based on different grading of natural catastrophes, according to the P&C insurance supervision chief.
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- August 21 2024
Texel names Coface’s Hélène Heas as broker for Asia operations
Singapore-based Heas will be supporting the broker's business growth across the Asia Pacific region and further enhance its client solutions and market reach.
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- August 21 2024
Philippines non-life GWP for H1 2024 tops US$1bn
Casualty net premiums saw the strongest growth, up 35% year-on-year, while fire premiums were down 0.11% over the same period.
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- August 21 2024
Lockton taps Howden’s Richard Turner as Asia head for market management group
In his new role, Singapore-based Turner will establish Lockton Asia's carrier management function by building and launching the market management group for the region.
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- August 20 2024
GIC Re mulling exiting its non-core housing financing arm: report
The reinsurer, which holds a 15.26% stake in GIC Housing Finance, plans to bring in an investor to divest its stake.
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- August 20 2024
Exclusive: ARB Indonesia elevates Wayan Sumendra to president director
In his new role, Jakarta-based Sumendra will be responsible for developing Indonesia reinsurance broking strategy and managing all business operations for ARB Indonesia.
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- August 19 2024
Indian government mulls raising insurance FDI limit to 100% from 74%: report
The proposal, backed by IRDAI, is expected to ease other FDI rules for the sector, including a mandate to have Indian citizens in certain segments of the top management, according to a report by the Times of India.
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- August 19 2024
Central Bank of India set to acquire stakes in Future Generali P&C and life units: report
This acquisition is part of the bank's strategy to expand its presence in the insurance sector. The stakes, to be bought from debt-laden Future Enterprises, is expected to be announced soon, according to the Economic Times.
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- August 19 2024
India government may pare stake in GIC Re through secondary placement: report
The state-owned reinsurer plans to starts growing its international book of business from next year as it is expecting a rating upgrade to "A-" from AM Best.
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- August 19 2024
Zurich Singapore appoints Chubb’s Nixon Ooi as head of accident and health
Ooi will report directly to Alexandra Cowley, chief underwriting officer for Zurich Singapore.
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- August 19 2024
Aon brings on board Marie Pelton as cargo and logistics associate director for Asia
Singapore-based Pelton, who joins from Filhet-Allard Maritime, will work with the regional director of marine, Nick Chapman,
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- August 19 2024
Billion-dollar losses from hail and wildfire put pressure on East Asian carriers
With Japan's Hyogo hail-related insured losses pegged at US$1bn and economic losses from Siberian wildfires estimated at US$84bn, regional underwriters are forced to reassess their exposures to secondary perils.
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- August 19 2024
MG Non-Life sale called off after failed fourth attempt: report
KDIC said that it will pursue a private sale in the future after rejecting bids from three players including Meritz Fire and Marine.
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- August 16 2024
Hanwha General Insurance’s rate hike effort pays off for its long-term business: AM Best
AM Best affirmed the rating of Korea's sixth-largest non-life insurer at “a” (excellent) with a "stable" outlook.
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- August 16 2024
Analytics: Korean insurers’ record H1 results marred by motor results slump
Rates cuts by major players have led to a a significant deterioration in their motor portfolio in the first six months of the year, while a focus on long-term insurance products has helped the bottomlines.
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- August 16 2024
Nat cat risk pool, parametrics can improve China’s climate resilience: Ping An Insurance
In a jointly-issued report, China's second P&C insurer has put forward a range of recommendations on how authorities can work with the sector to mitigate disaster risks.
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- August 15 2024
Indian regulator introduces new accounting standard on insurance contracts: report
The Insurance Regulatory and Development Authority of India must still issue an implementation roadmap for insurance companies to start adopting the new Ind AS 117, which converges with IFRS 17.
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- August 15 2024
Sri Lanka’s insurance watchdog outlines reinsurance, risk-based capital reforms
The regulator also plans to introduce a legal framework for the sale of micro-insurance products, and issue revised guidelines on reinsurance in an attempt to improve the country's low insurance penetration rate.
