Country: Asia Page 46 / 411
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- August 28 2024
PICC P&C H1 underwriting profit down 5% as liability insurance losses bite
Underwriting profit for China's largest P&C insurer totalled US$1.26bn, as COR edged up 0.4 percentage points to 96.2%
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- August 28 2024
Tune Protect H1 2024 insurance revenue drops 15.2% to US$43.7m
Its COR deteriorated to 107.5% versus 95.4% in H1 2023 due to the higher net incurred claims and attributable expenses.
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- August 28 2024
Peak Re reports US$124.2m profit in H1 2024, COR at 84.9%
The reinsurer has reported GWP of US$847.9m in 2024 H1, a slight 1.8% year-on-year increase, according to the company's unaudited earnings release.
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- August 28 2024
Data breach by Japan’s big 4 insurers affects over 2 million customer records: report
Tokio Marine & Nichido Fire Insurance, Sompo Japan, Mitsui Sumitomo Insurance, and Aioi Nissay Dowa Insurance will need to submit reports to the financial regulator by the end of this week.
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- August 28 2024
Vietnam’s PVI Insurance gets greenlight to raise charter capital to US$157m: report
It is the second capital increase approved by the regulator in five months, as Vietnam's largest non-life insurer continues to grow its market share.
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- August 28 2024
Aon Hong Kong takes Naureen Rasul as director-financial services and professions group
In her new role, Rasul will be instrumental in driving the broker's growth in financial lines and cyber.
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- August 28 2024
Conduct exclusion wordings get scrutinised as Segantii’s insider dealing case unfolds
Ongoing criminal proceedings against one of Asia’s oldest hedge funds have highlighted the need for managers to constantly review policy coverage, limits and carriers' claims handling capability, according to financial lines underwriters.
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- August 28 2024
Generali’s Indian JVs to rebrand following regulatory approvals on stake sale: report
The branding overhaul would see "Future" omitted from the name, and will likely take place after regulators approve the stake sale by Future Enterprises Limited, according to the local media.
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- August 27 2024
China Taiping’s H1 domestic P&C profit doubles as reinsurance business reverses losses
Its domestic China P&C’s operating profit surged to US$47.6m, as China's third-largest non-life reinsurer posted a US$63.9m operating profit for its reinsurance business.
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- August 27 2024
ZhongAn P&C H1 2024 underwriting profit drops 41% to US$44m as COR deteriorates to 97.9%
Insurance revenue for the P&C business for the first six months ended June 2024 increased 18.1% year-on-year to US$2.1bn.
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- August 27 2024
Japan’s big 4 plan to increase motor premiums by 3.5-5% in January 2025: report
The rate hikes have been triggered by higher payouts amidst rising prices and a growing number of nat cat events.
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- August 27 2024
Peak Re names Peter Hämmerli as head of business operations
Hämmerli will report directly to CEO Franz-Josef Hahn and play a key role in enhancing Peak Re's global operations as the reinsurer continues to expand globally.
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- August 27 2024
Aon Hong Kong appoints Phil Bautista Steel as director for growth & delivering Aon united
Steel joins Aon from CCW Global where he was most recently a sales manager. He is the former president of Hong Kong Insurers Club for four years since 2019.
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- August 27 2024
WTW taps Aon’s Felicia Tan as associate director for financial solutions in Singapore
In her new role, Singapore-based Tan will lead the broker's financial institutions business and grow the firm's overall portfolio.
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- August 27 2024
Opinion: Mpox cases with deadlier strain send jitters across Asian P&C market
While the number of cases is still limited in the region, a potential spreading of the virus, especially the mutated clade 1b strain, could disrupt fragile supply chains already impacted by the curtailment of shipping in the Red Sea and result in potential BI losses.
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- August 26 2024
Underwriting restructuring to help Korea P&I withstand severe losses: AM Best
The rating agency has affirmed the carrier's rating of B++ (good) with a stable outlook, driven by a strong balance sheet, adequate operating performance and the wide range of support it receives from the South Korean government.
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- August 26 2024
Tune Protect Thailand appoints MSIG’s Sasivimol Choladda as CEO
Bangkok-based Choladda will report to the recently appointed company group CEO How Kim Lian.
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- August 26 2024
IRDAI urges carriers to devise strategies on affordable insurance products: report
The insurance regulator's appeal for more affordable products directed at the country's insurers is part of its move to achieve "Insurance for All" by 2047.
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- August 26 2024
South Korean government pushes ahead with EV battery certification scheme: report
Set to launch in October, the certification scheme seeks to alleviate growing public concerns about lethal fires caused by EV lithium batteries, as insurers are reviewing their existing motor policies to gauge the potential losses in their books.
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- August 26 2024
BHSI expands Asia team with two hires
Singapore-based Kiran Prakash's role has been expanded to head of first party lines, as Jessie Yuen has been promoted to head of energy Asia succeeding Ming Ong, who has relocated to London.
