Country: Asia Page 37 / 394
-
- July 8 2024
Insurance claims from southern China heavy rain and floods hit US$344m: report
Insurers have settled about a third of the total claims filed. The heavy rain and floodwaters in Hunan breached a stretch of the dyke of China's second-largest freshwater lake.
-
- July 8 2024
India’s general insurers pull back from state flagship crop insurance scheme in FY 2024: report
Gross premium fell 4.2% to US$3.7bn for the 12 months ended March 2024, at a time when farmers were grappling with heavy crop losses due to floods, unseasonal rains and heatwaves.
-
- July 8 2024
Insurers tap voluntary carbon market as Asia set to plug supply shortfall
With the global market projected to reach US$1trn by 2037, carriers are seeking ways to meet the growing demand for managing climate risks and consider the region crucial in bridging the carbon credit gap.
-
- July 6 2024
Mapfre Re seeks China expansion via new subsidiary in Beijing
The recent approval from the financial regulator will allow the Spanish reinsurer expand its business in the country where it has until recently maintained a presence through a representative office.
-
- July 5 2024
Minority shareholder of Chubb-backed Huatai Insurance puts US$10m stake up for sale
State-owned China General Nuclear Power Group is selling its 0.16% stake in the Beijing-based insurer, as Chubb gradually raised its ownership to 85.53% this year.
-
- July 5 2024
Pickup in India M&A deals set to trim insurance rates: Gallagher
As more carriers and managing general agents enter the market, rates are falling from over 3% to 1%-2.5%, with further reductions and wider coverage expected over the next 12 months, the broker said in its new report.
-
- July 5 2024
Opinion: The Indian insurance privatisation conundrum
State-led revivals have delayed privatisation of the country’s three general insurers and stalled much-needed reforms and competition that could otherwise enable Indian carriers to put their stamp on the world stage.
-
- July 4 2024
Miller bolsters APAC treaty team with Mandy Phan joining from Guy Carpenter
Based in Singapore, Phan will join the team as a treaty broker.
-
- July 4 2024
Japan’s big 4 insurers see lackluster premium growth in H1 2024
Most insurers recorded total premium growth by 3% for the six months to June 2024, with compulsory motor liability insurance posting declines year-on-year while fire insurance registering growth.
-
- July 4 2024
Hong Kong’s new RBC regime could trigger more industry consolidation: S&P Global
The higher compliance costs, coupled with earning swings due to market volatility, could lead to an increase in M&A in the sector and force some insurers to raise more capital, said S&P Global Ratings.
-
- 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.
-
- 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.
-
- 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.
-
- 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.
-
- 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.
-
- 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.
-
- 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.
-
- 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.
-
- 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.
-
- 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.
