Country: Asia Page 63 / 403
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- March 18 2024
Ping An P&C improves underwriting with reduced credit and guarantee exposure, new motor policies: AM Best
The rating agency has affirmed the insurer rating of A (excellent) with a stable outlook.
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- March 18 2024
India 1.4 renewals likely to be smooth but structures remain a sticking point
Proportional capacity is drying up, but reinsurers remain open to quota shares for select cedents and pushing for whole account XL protections.
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- March 18 2024
Japan’s big three to improve motor COR to 95% by 2026: Jefferies
The improvement will be driven by premium hikes, efficiency gains and lower expense ratio, according to a report by the investment bank.
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- March 15 2024
Gallagher Re promotes Sie Liang Lau to head APAC cyber team
In the newly created role Sie will oversee reinsurance broking covering APAC.
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- March 15 2024
Asuransi Astra’s A- rating affirmed on strong balance sheet strength: AM Best
Indonesia's third-largest general insurer's A- rating was affirmed on its strong operating performance, with COR averaging 88.1% for the five years up to 2023.
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- March 14 2024
Cyber, business interruption top risks for India: Aon
66.7% of respondent organisations in the country suffered a loss due to property damage and 50% were affected by supply chain disruptions.
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- March 14 2024
Vietnam’s amended law set to stunt bancassurance sales growth: AM Best
Heightened regulatory scrutiny has already led to the first fall in insurance premiums in a decade in 2023. Still, the amended law will impact the non-life sector less compared to life.
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- March 14 2024
Philippines regulator doubles third-party motor liability coverage limits
The Insurance Commission said there would be no increases in premium, and the rates prescribed in 2006 shall remain in force.
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- March 14 2024
Sedgwick promotes Nicki Dunn to chief client officer for Asia
The global loss adjustor has concurrently promoted Irwin Wei and Kalnisha Velu, both have joined Dunn's team.
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- March 14 2024
Japan’s latest rocket launch loss unlikely to hit international markets
The space (re)insurance market that suffered a bruising 2023, with a heavy loss experience that ripped through its premium base, spared the claims from the failed experimental launch.
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- March 14 2024
Tokio Marine sets decarbonisation goal for 60 emission-heavy companies
Companies that fail to set up decarbonisation plans by 2030 will be cut off from its insurance underwriting, investment and financing, the Japanese insurance group said.
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- March 13 2024
Marine MGA Adva Specialty rebrands as Vivace Asia Pacific, appoints new regional head
The Hong Kong-based specialist underwriter, which is now part of +8 Partners, will be led by Rebekah Khew as director – Asia Pacific.
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- March 13 2024
Lockton expands India team with two senior hires
Punit Pancholi has been appointed chief risk and compliance officer and Dhananjay Acharya will take charge as CIO for the broker’s newly set up operations in Mumbai.
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- March 12 2024
Scor restructures P&C, life & health with regional heads
Under the restructuring, Mukul Kishore will head the reinsurer's P&C business for Asia Pacific, while Chloe Wang and Dion Russell will head up life & health markets.
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- March 12 2024
Indonesia’s ambitious insurance reform push leaves questions over international support
Regulators are wrestling with striking a balance between encouraging the growth of domestic markets while recognising that global partnerships will be required to complete the transition.
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- March 11 2024
Overseas premium of Korea’s four major non-life insurers surpasses trillion-won milestone in 2023: report
The country’s big four have doubled their international business in the last five years led by DB Insurance, which accounts for 50% of the overseas premium.
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- March 11 2024
Berkley Insurance Asia restructures leadership to prepare for cyber growth
BIA appoints Heidi Zeng as head of cyber Asia and promotes Owen Yin and Jack Zhao as regional director of China and underwriting manager respectively.
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- March 11 2024
Axa XL promotes Zoe Xie to property underwriting manager in Singapore
Singapore-based Xie will oversee the development and execution of the global (re)insurer's property strategy.
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- March 11 2024
Singapore expected to ease capital treatment for green infrastructure investing
An upcoming consultation by the MAS will likely propose a framework to allow insurers to invest in sustainable projects at more favourable risk charges, putting Singapore in line with other markets, says WTW.
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- March 8 2024
Hong Kong 2023 P&C underwriting profit down 81% to US$102m: HKIA
The sector's underwriting performance was hit by an increase in A&H claims, cat events and a reserve strengthening by the Hong Kong Mortgage Corporation due to the realty sector downturn.
