Country: Asia Page 77 / 394
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- September 27 2023
Mega cargo vessels present growing claims issues for Asia ports
Cargo from larger ships is exposed to potentially higher risks by staying in ports longer, increasing the prospect of claims in relation to theft, delays in delivery, flooding, defrosting and container damage.
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- September 27 2023
MG Insurance majority owner files fresh lawsuit to stop sale: report
Korea Deposit Insurance Corporation had hired Samjeong KPMG to run the sale of the troubled carrier and had set an October 5 deadline for bids.
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- September 26 2023
Korean non-life premiums to grow 4.4% to US$94bn in 2023: Korean Re
The growth will be supported P&C lines including liability and fire with overall premiums expected at rise 7%, the reinsurer said.
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- September 26 2023
APAC carriers’ coal jitters sees excess capacity shift to renewables, gas
Regional (re)insurers are replacing ESG-hit premiums by increasing business from greener energy projects, potentially driving down rates.
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- September 26 2023
ICICI Lombard names Sanjeev Mantri as MD and CEO
Current CEO Bhargav Dasgupta is set to join the Asian Development Bank as vice president – market solutions.
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- September 26 2023
Lotte Insurance’s private equity owner to kick off sale process: report
Majority owner JKL Partners has scripted a turnaround for the carrier since a 2019 purchase, but buyers have concerns over whether the robust earnings of carriers under IFRS17 are sustainable.
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- September 25 2023
PARIMA Tokyo conference to deliberate on the future of risk management
The conference, themed ‘Adapting to Permacrisis’, will draw senior risk and insurance professionals from around Asia Pacific.
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- September 25 2023
Philippines proposes new 2% tax on non-life premiums: report
The proposed new bill also aims to impose a one-time documentary tax stamp for insurance policies exceeding US$1,800.
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- September 25 2023
Crawford promotes Charlotte Lau to regional head of operations
Singapore-based Erwin Yu will take over from Lau as director of market development Asia.
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- September 25 2023
AM Best affirms Sompo Japan’s ratings on strong overseas business growth
The Japanese insurer’s international arms bring in 38% of net premiums, 74% of adjusted profits in FY 2022, the rating agency said.
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- September 25 2023
Nat Re’s underwriting to improve on exit from unprofitable non-life treaties and focus on life, specialty: AM Best
The rating agency has affirmed the reinsurer ratings of the Philippines' sole reinsurer.
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- September 22 2023
AM Best affirms Samsung Fire’s rating with its long-term insurance business driving profits
The carrier’s Indonesian subsidiary Samsung Tugu reported a five-year average combined ratio of 57%, the rating agency noted.
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- September 22 2023
Generali GC&C makes two senior Asia appointments in Hong Kong
Matthew Day becomes Asia head of risk engineering & loss prevention while Danny La joins as Asia head of strategic initiatives & business transformation.
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- September 22 2023
Analytics: Asian marine premiums cross US$10bn despite slowing cargo growth
Flattening economic growth in China and the strengthening dollar drive down cargo premiums from the region, while hull premiums benefit from post-Covid recovery, says IUMI.
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- September 22 2023
Lloyd’s partners UN to scale insurance access for climate-vulnerable countries in APAC
Initially focussing on building solutions across Fiji and the Pacific Islands, the partnership will seek to replicate the model in Asia and Africa.
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- September 22 2023
Liberty General Insurance appoints Parag Ved as India CEO
Ved takes on the role following the retirement of Roopam Asthana, who was instrumental in establishing Liberty’s business operations in India.
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- September 21 2023
Canopius continues Australia expansion with two senior hires
Lucy Lumb joins the firm as underwriter, property coverholder and delegated authority, while Trisha Urquhart joins as underwriter - accident and health.
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- September 21 2023
Bolttech raises US$50m from LeapFrog in extended Series B round
The Singapore-based insurtech will use the proceeds to fund its global growth strategy, with a focus on emerging markets.
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- September 21 2023
China-Taiwan woes put pressure on marine (re)insurance market
Lack of data for accumulation risks and unavailability of a maximum loss scenario are real concerns for the shipping sector, says IUMI president Frédéric Denèfle.
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- September 20 2023
Typhoon Nanmadol’s final loss count is US$850m: Perils
The storm hit the Japanese islands of Kyushu and Shikoku and the western and central regions of Japan’s main island of Honshu in September last year.
