Country: Asia Page 74 / 403
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- December 15 2023
China Aircraft Leasing gets US$23.57m insurance settlement for jets stranded in Russia
Following similar deals in the last two months, Russian insurer NSK will make the payout for one aircraft leased to Aeroflot and the Chinese lessor has agreed to release its claims against all parties.
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- December 15 2023
Shanghai Insurance Exchange sets template for reinsuring Greater Bay Area climate risks: Axa’s Sally Wan
Both Hong Kong and Shanghai have a role to play in helping (re)insurers manage risk and grow their P&C businesses, from climate to infrastructure risks, says the Greater China CEO.
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- December 15 2023
KSCFC to recover profitability despite changes in regulation: Moody’s
Rating agency affirmed A3 insurance financial strength rating; maintains stable outlook.
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- December 14 2023
New India Assurance admits NHPC’s Sikkim flood claims
The state-owned power producer's projects damaged in the flood include Teesta-V Power Station (510 megawatt) and the under-construction Teesta-IV HE project (500 megawatt).
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- December 14 2023
Insurer of shadow vessel grounded off Singapore ‘forcibly dissolved’ by Marshall Islands: report
Continental P&I, the little-known insurer which covered Liberty, the oil tanker carrying one million barrels of fuel oil, was shut down as it had no known address in the island nation, highlighting the challenges dark fleet poses to the industry.
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- December 14 2023
PICC P&C’s agricultural business sees fastest growth for 11M2023
The government's initiative to expand coverage to more commodities should help non-lifers to uphold their growth dynamics in agri insurance, analysts said.
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- December 14 2023
China rolls out red carpet for foreign marine insurers to boost reinsurance capability
Local insurers' underwriting and loss prevention capabilities can be improved, according to a guiding opinion jointly issued by the central bank and several financial regulators.
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- December 13 2023
Korean regulator sets mandatory crypto insurance requirement on operators
Virtual asset service providers must set a min 5% compensation limit based on customers’ virtual assets stored in hot wallet, the Financial Services Commission said.
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- December 13 2023
IRDAI objects Reliance General Insurance owner’s plan to rejig ownership: report
The Indian insurance regulator has termed the move as “premature” and “sub-judice” as certain court cases are yet to be concluded.
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- December 12 2023
China to pilot expanded agri cover scheme
The public-private partnership programme will provide coverage to rubber farmers in Yunnan, Hainan either on the costs or revenue of the insured plantation.
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- December 11 2023
Crawford picks Reuben Francis from Sedgwick as deputy managing director for Malaysia
Kuala Lumpur-based will be responsible for the technical quality and delivery of loss-adjusting services, client management and business development.
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- December 11 2023
WTW rejigs South-East Asia, Singapore corporate risk and broking leadership
Rupert Roberts will take on a new role as head of South-East Asia for corporate risk and broking, while Christine Lau will lead the team in Singapore.
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- December 11 2023
Singapore mulls expanding policy owner protection to third-party liability, travel cover
MAS' consultation paper proposes to enhance the coverage, simplify design, and improve operational efficacy of the insurance policy owners' protection scheme and it is open for comments till February 16, 2024.
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- December 11 2023
China Taiping HK bottomline to ride on investment income as underwriting performance remains marginal: AM Best
The Hong Kong insurer's rating of A (excellent) with a stable outlook has been affirmed by the rating agency, however, noted that COR has been above 100% despite a steady decline in loss ratios coupled with lowering expense ratios.
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- December 11 2023
Berkley promotes Ernest Teng as head of financial lines as Cassandra Lee departs
Singapore-based Teng will oversee the Singapore financial lines team and fac businesses from South-East Asia, Mauritius and Japan.
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- December 11 2023
Korean Re’ underwriting to benefit from plan to offload unprofitable domestic personal lines: AM Best
The Korean reinsurer's rating outlook has been upgraded to positive from stable on a strengthening balance sheet, robust operating performance and unchallenged business profile fundamentals, the rating agency said.
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- December 11 2023
Lack of investor awareness stifling Hong Kong’s US$560m cat bond market
Senior executives at insurers, brokers and the World Bank applaud the city’s effort to grow its insurance-linked securities market, but challenges remain.
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- December 8 2023
Asean reinsurers to set up regional renewable energy pool
Six South-East Asian reinsurers including Malaysian Re, which will be the pool manager, Indonesia Re, VinaRe, Cambodia Re, Thai Re and Nat Re have pledged to provide underwriting capacity.
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- December 8 2023
Tune Protect Re’s balance sheet strong, operating performance to improve post Covid-19: AM Best
The rating agency has revised the outlook of travel-focused Malaysian carrier Tune Protect Re to positive from stable and affirmed the financial strength rating of B++ (good).
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- December 8 2023
Moody’s cut in China outlook hits Sinosure, PICC, CPIC P&C, China Life P&C and 2 captives
The downgrade warning reflects evidence that financial support will be provided to financially stressed local governments and SOEs, posing broad downside risks to the country's fiscal, economic and institutional strength, the rating agency said.
