Country: Asia Page 38 / 394
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- 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.
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- July 2 2024
Lockton Singapore taps WTW’s Sung Wook Han as regional head of marine for Asia
Han will relocate from London to manage marine teams across Asia with a special focus on Singapore.
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- July 2 2024
Koo Kang Wuu joins Munich Re Syndicate Labuan as managing director
With a background in direct and facultative (re)insurance, Koo will be responsible for driving specialty insurance growth in Malaysia.
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- July 2 2024
APAC pricing stabilises at 1.7 renewals as global capacity hits record US$695bn
With more capital coming to the table, reinsurance rating reductions were in order, though loss-affected territories bucked the wider trend.
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- July 1 2024
BMS expands Japan M&A insurance team with a senior appointment
Tokyo-based Ryo Iizuka, who joins as director of the private equity, mergers & acquisitions, and tax, will report to Tim Hewitt, head of BMS Japan, and work alongside associate Kaori Iwai.
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- July 1 2024
Miller hires veteran Kazuhiko Shinkai as head of non-marine Japan strategy
Shinkai joined from Japanese multinational group Itochu Corporation where he held a range of management roles.
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- July 1 2024
Hong Kong risk-based capital regime rollout marks milestone: Insurance Authority
The introduction of the RBC regime will strengthen the financial soundness of insurers and solidifies Hong Kong’s role as a global insurance hub, the regulator said.
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- June 30 2024
China revises emergency response law to alleviate nat cat shocks
The revised law calls for the establishment of a nat cat risk insurance system based on market principles, and instruct local governments to take out personal accident insurance for rescue teams.
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- June 28 2024
Insured losses from Japan hailstorms set to top US$1bn: Guy Carpenter
Hail had been perceived in the past as a minor peril in Japan, but recent hail events from 2022 to 2024 have shown that Japanese hailstorms can generate substantial losses.
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- June 27 2024
India government may delay privatisation of three general insurers: report
The government will provide the state-owned carriers capital support of US$600m, and review business plans to strengthen their balance sheets.
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- June 27 2024
Japanese non-life industry underwriting income tops US$1bn in 2023: GIAJ
The industry’s combined ratio in 2023 decreased by 0.6 percentage points to 96.9% from a year ago, data from the industry body shows.
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- June 27 2024
Japanese insurers may raise voluntary motor premiums in 2026: report
General Insurance Rating Organisation of Japan, the country's only premium rating organisation, plans to raise its reference premium rates for voluntary motor insurance by an average of 5.7% as early as January 2026.
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- June 27 2024
UIB Asia expands regional team with senior Aon and Marsh hires
The reinsurance broker has brought in Aon's Richard Oh as head of operations and marine reinsurance and Marsh's Tong Nee Saw as head of the facultative and specialty division.
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- June 27 2024
Korean battery plant fire claims likely to leave reinsurers unscathed
The primary insurers, KB Insurance and DB Insurance, are expected to retain the losses from the blaze at the Aricell unit as property and liability claims are expected to be relatively low, InsuranceAsia News understands.
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- June 26 2024
SBI General Insurance appoints former banker Naveen Jha as managing director and CEO
Jha was formerly deputy managing director of the insurer's parent, state-owned lender State Bank of India.
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- June 26 2024
Mitsui Sumitomo plans to merge continental European subsidiaries
The Japanese insurance group has announced that it will integrate MS Amlin Insurance and MSIG Insurance Europe by summer next year.
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- June 26 2024
Zurich aims to grow India headcount 40% following Kotak acquisition: report
In three years, the insurer will hire people in commercial underwriting, distribution and digital development, according to APAC chief executive Tulsi Naidu.
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- June 26 2024
‘Normalcy’ returns to Australia, New Zealand 1.7 renewals
Property cat renewals are seeing relatively flat pricing on bottom and middle layers and small risk-adjusted decreases in top layer pricing, brokers tell InsuranceAsia News.
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- June 26 2024
Taiwanese insurers set to debut dedicated EV insurance in July: report
Cathay Century Insurance, MSIG Mingtai, Shinkong Insurance, Union Insurance, and Taian insurance are preparing to launch the specialised cover with premiums at 5-10% higher than conventional gas-powered cars.
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- June 25 2024
Oneglobal takes Gallagher’s Andrew Ko for greater China push
With 28 years of experience, Ko has joined the broker as executive director in the Hong Kong office.
