Country: Asia Page 57 / 394
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- February 26 2024
Markel appoints Ng Yao Hua as cyber security analyst in Singapore
Ng will support Markel’s cyber underwriting capability in the region, reporting to Simon Moi, head of professional and financial risks for Asia.
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- February 26 2024
Zurich to buy Kotak General Insurance’s 70% stake upfront in US$671m amended deal
The Swiss carrier had originally announced a staggered purchase – a 51% stake in the Indian insurer first and an additional 19% within three years.
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- February 26 2024
IRDAI retains 4% obligatory cession for upcoming renewals
The cession, a percentage of the sum insured on all general insurance policies, has to be placed with the sole India reinsurer, the state-owned GIC Re, for FY 2025 starting April 1 this year.
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- February 26 2024
WTW hires new APAC captives lead from Aon
Singapore-based Joyce Chua will provide captive and risk finance insights helping companies retain risk and manage their (re)insurance programs.
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- February 26 2024
Tokio Marine’s underwriting profitability to recover: Fitch
The rating agency has affirmed Tokio Marine & Nichido Fire Insurance's rating at "AA-" with a stable outlook on higher property and motor premiums, despite a COR at 103%.
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- February 23 2024
DB Insurance underwriting profit drops 22.7% to US$1.1bn
Commercial lines, which the carrier plans to revitalise through a profit-based sales system, reinsurance program optimisation and overseas expansion, reported a loss with the COR at 109.5%.
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- February 23 2024
Tatler’s Messi fiasco flags up need for celebrity cover
Sources tell IAN that the organiser, now hit with a hefty refund bill, is unlikely to have purchased non-appearance cover because of the high cost and stricter conditions imposed by capacity suppliers.
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- February 22 2024
India property cat rates rose 50% past nine months: report
Storms, tempests, floods, and inundations rates are expected to be further revised upwards during April 2024 renewals.
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- February 22 2024
Samsung Fire & Marine FY 2023 insurance profit up 18.6% at US$1.5bn
South Korea’s largest carrier charts overseas expansion plans for its P&C lines, which saw its insurance profit grow 112% year-on-year.
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- February 22 2024
IRDAI to introduce collateral for cross-border reinsurance programs
The collateral shall be either an irrevocable LOC, or premiums or funds withheld by the cedent, the Indian regulator said in an exposure draft.
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- February 22 2024
Insurers lobby for removal of green infrastructure investing roadblock
The twin challenges of inflation and net-zero transition facing (re)insurers are highlighting the role that infrastructure assets can play in their portfolios, with infrastructure loan yielding as much as 600 bps in risk premium and equities returning 12%.
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- February 22 2024
Tokio Marine leadership reshuffle to see Keiko Fujita take over as managing director from June
Current MD Yoshinori Ishii will step down from his role but continue as managing executive officer, while Fujita will retain her role as general manager of Tokio Marine & Nichido Fire in China.
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- February 22 2024
New capital norms to drive consolidation in Indonesia’s takaful and retakaful sector: Fitch
Almost half the companies will have to raise capital to meet the requirement by end-2026 based on their latest equity levels, and almost two-thirds of them by end-2028, as capital generated through growth is unlikely to be sufficient, the rating agency said.
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- February 21 2024
Taiwan’s green power credit guarantee to mitigate default risk, eases up project financing: Fitch
With reinsurance provided by the National Credit Guarantee Administration and backed by EximBank, the new credit guarantee scheme will facilitate financing to wind project operators, Fitch said.
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- February 21 2024
PSC Insurance upgrades full-year guidance after 39% rise in H1 bottom line
The Melbourne-based global broking group saw strong performance in its distribution business in Australia, offsetting the small decline recorded by its existing UK business.
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- February 20 2024
Taiwan’s regulator expects EV insurance reference rates to be finalised by Q2: report
Insurance policies for electric vehicles are expected to be ready for launch as early as the second-half this year after the industry association, regulator finalise the reference rates and terms for the non-life sector.
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- February 20 2024
Opinion: When will the Asia hydrogen market lift-off?
Underwriters have yet to catch up with the pace of investment and the billions of dollars being committed to developing the emerging energy sector.
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- February 20 2024
Chubb Japan’s performance to stabilise on parental support: S&P Global
The rating agency affirmed the 'AA-' long-term issuer credit rating & stable outlook after the insurer's H1 results benefitted from a growth in travel and commercial insurance.
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- February 19 2024
Axa XL appoints AIG’s Chris Cheng as Hong Kong head of casualty
Cheng will be responsible for developing casualty portfolio across Hong Kong, China and Macau.
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- February 19 2024
Challenger brokers take aim at the big three’s long-held APAC dominance
A whole new generation of brokers is seeking organic and inorganic breakthroughs into the fast-growing regional market to shake up the status quo.
