Country: Asia Page 71 / 394
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- November 7 2023
20% of motor insurance claims in Singapore fraudulent: report
Common forms of scam involve individuals offering help from unauthorised repair shops or overpriced towing services after an accident, staged accidents with fake injuries, and fake witnesses.
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- November 7 2023
BESS thermal runaway risks a hurdle to APAC’s ambitious energy transition goals
Growing fire losses at lithium-ion battery energy storage systems and the potential for liability risks emanating from it is a challenge for capacity in the region.
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- November 6 2023
Miller taps Lockton’s William Seccombe to lead Asia financial lines
Singapore-based Seccombe will focus on building a team of experts across all financial lines, enhancing the broker’s global product offering and reach across the sector in APAC.
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- November 6 2023
Asian P&C carriers hit by falling profitability and slowing premium growth: McKinsey
CORs in emerging Asia reached or exceeded 100% every year from 2017 to 2022, primarily driven by a higher expense ratio, while insurance penetration has stagnated at 1- 2% over the past decade, a report by the consulting company shows.
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- November 6 2023
Cautious approach on Aswata’s reinsurance dependence and panel: Fitch
The rating agency has affirmed an insurer rating of AA(idn) with a stable outlook, primarily driven by its high capitalisation and sustained high underwriting profitability.
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- November 6 2023
Western Nepal’s earthquake casualty losses to exceed US$2.3m: sources
Although the earthquake happened in a remote district with low presence of carriers, the liability has raised up to around US$150,000, potentially retained by local (re)insurers, IAN understands.
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- November 6 2023
SIRC: Five key themes from the 2023 edition
With the region's biggest reinsurance gathering behind us, we bring you the big takeaways from last week's Singapore event and what they mean for the upcoming renewals.
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- November 3 2023
Roshan Perera to lead Gallagher Re APAC strategic solutions
Prior to joining Gallagher Re last year, Perera had spent over 12 years with consultancy firm consultant NMG Consulting.
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- November 3 2023
KB Insurance improving profitability, investment returns: AM Best
AM Best has affirmed its rating of A (excellent) with a stable outlook, citing the firm’s strong balance sheet, adequate operating performance, neutral business profile and parent support.
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- November 3 2023
SIRC: Much more to be done to convince capital markets — Peak Re’s Hahn
Franz-Josef Hahn, the reinsurer's CEO, and Jasmine Miow, director of South Asia and SE Asia, spoke to IAN on nat cats, ILS, Asia's rising middle class and professional lines.
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- November 2 2023
Zurich enters India with US$488m deal for majority stake of Kotak General Insurance
The 51% stake will increase by 19% "over time" in a market that Zurich APAC CEO Tulsi Naidu describes as "one of the world's most important".
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- November 2 2023
FM Global names Ziad Tadmoury as executive VP to oversee APAC
The current manager of the mid-market division will oversee APAC, EMEA, Canada and specialty from January.
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- November 2 2023
SIRC: Asia’s PV and terrorism market faces second overhaul at 1.1 renewals
Reinsurance prices are going up and attachment points are changing, says Axa XL's Mark Houghton, with demand coming from banks, export credit agencies and government multilateral initiatives.
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- November 2 2023
SIRC: Expert panel urges more action on climate change in APAC during record year
Reinsurers, insurers and brokers need to help clients monitor and adapt as the climate in the region changes fast and losses pile up.
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- November 1 2023
SIRC: ‘There are more purchases towards the capital piece than the earnings piece’ — Gallagher Re’s Mark Morley
The broker's head of Asia Pacific is looking for a 'more nuanced approach' to the upcoming 1.1 renewals as it targets ‘ambitious’ growth around the region.
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- November 1 2023
SIRC: Renewables, underinsurance, nat cats and cyber risks are reinsurance’s APAC focal point — CEOs
The panel, chaired by James Vickers, international chairman at Gallagher Re, was Renaud Guidée, CEO - reinsurance, Axa XL, Achim Kassow, member of the board of management, Munich Re and Swiss Re's Urs Baertschi, CEO, P&C Reinsurance.
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- October 31 2023
AXA XL | Battery-powered ships: Moving from the drawing board to the seas
Electric ferries are increasing in popularity but there is plenty of work ahead to move away from ships using heavy diesel oil.
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- October 31 2023
Allianz Trade’s Tricia Koh named commercial director for Hong Kong, Taiwan and South Korea
Koh is replacing Hassan Omaish who has taken up the role of global head of brokers and partnerships from Paris.
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- October 31 2023
SIRC: Low-level aggregate covers will not be in our appetite — Hannover Re’s Sharon Ooi
Talking to IAN, Ooi, who oversees APAC, says markets that don’t want to address pricing disconnects will struggle, but that she expects 'disciplined' capacity to be available.
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- October 31 2023
SIRC: SIRC kicks off with focus on Asean co-operation, data and cyber, climate risks
Ravi Menon, managing director of the Monetary Authority of Singapore, warns there is not enough data on economic exposure to perils such as nat cats and cyberattacks.
