Country: Asia Page 77 / 411
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- January 30 2024
Japan government loss estimates for Noto earthquake up to US$17.5bn, insurance claims filed top 50,000
Damage to public infrastructure is expected to account for half of the losses, while Ishikawa prefecture is the worst hit.
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- January 30 2024
Seoul Guarantee Insurance’s parent revisits IPO plan after failing to impress investors last year: report
KDIC, the state-run parent of the Korean guarantee insurer, has made a first step towards relaunching an IPO, which was shelved in late 2023.
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- January 29 2024
Toa Reinsurance’s earnings could seesaw on nat cat and social inflation risks: S&P
Still, taking into account its strong capitalisation S&P Global Ratings has affirmed its 'A' rating on the reinsurer, despite reporting COR at over 100% for five consecutive years.
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- January 29 2024
Sompo International elevates Rennie Muzii as EVP, head of Asian risk solutions
US-based Muzii was most recently senior vice president of professional lines, a role which he held since joining the insurer in 2013.
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- January 29 2024
Howden boosts multinational client focus with Aon’s Mike Baker
Singapore-based Baker will focus on climate and political risks, energy transition, and cyber in his new role.
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- January 29 2024
Specialty MGA Fusion partners Antares, Beazley and Everest for SME finpro cover in Asia
The insurers will support Fusion's management liability, professional liability, and investment managers insurance offerings, as well as its standalone D&O liability insurance tailored for SMEs.
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- January 29 2024
Sompo commits to fixes and reviews as FSA issues six-point business improvement order
The Japanese insurer is taking measures including clarification of management responsibilities related to Bigmotor, and make insurance premium adjustment.
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- January 26 2024
Consistent underwriting profits back Bao Minh Insurance’s stable outlook: AM Best
AM Best has affirmed the Vietnamese carrier's issuer rating at B++ (good) with a stable outlook, due to its consistent profits and strong balance sheet.
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- January 26 2024
Vietnam’s PTI sees rising loss ratio on health and motor lines: AM Best
AM Best has affirmed an insurer rating of B++ (good) for the company with a negative outlook due to its recent capital erosion.
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- January 25 2024
MS Amlin completes Singapore’s first-ever ILS renewal with US$35m Phoenix 2 Re
The Lloyd's player now has more than US$80m capacity in Asia through the twoi insurance-linked secuirities vehicles.
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- January 25 2024
China’s parametric pilots for nat cat cover finding early success: Taiping Re CEO
Wider use of index-based insurance and ILS is key to finding much-needed capacity for (re)insurers and widening nat cat insurance, according to Sheldon Yu.
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- January 24 2024
China Re can absorb Great Wall AMC write-off hit: S&P Global
Losses from a potential full write-off of the reinsurer's 6.5% stake in the state-owned bad debt manager would be within the reinsurer's capital buffer backing its rating.
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- January 24 2024
Election-packed 2024 revs up appetite for political risk cover
While the appetite for global programs has significantly reduced, single-country appetite remains relatively deep and is expected to see a boost in the product’s popularity over the coming months.
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- January 24 2024
AIG appoints head of accident & health in Singapore
Ann Wong rejoins the insurer after a 10-year break.
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- January 23 2024
Hong Kong Insurance Authority appoints Clement Lau as executive director
Lau, who had worked at the city's central bank prior to the latest appointment, will be in charge of reviewing regulatory frameworks and policies affecting the insurance sector.
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- January 23 2024
Thai Re to improve underwriting results in 2024 with COR below 100%: Fitch
The rating agency has affirmed the reinsurer's rating at 'A-' (strong) with a stable outlook based on strong capitalisation, favourable company profile and expectation of steady earnings from FY 2024.
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- January 23 2024
Sompo Holdings CEO Kengo Sakurada to step down in March over BigMotor scandal: report
President and chief operating officer Mikio Okumura is expected to succeed Sakurada as CEO at the insurance group holding company.
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- January 23 2024
Carbon specialist Lloyd’s coverholder Kita enters Singapore
The niche player, which has operations in the US, Canada, Switzerland and the UK, covers carbon credit risks by protecting buyers against delivery risk.
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- January 23 2024
Nepal’s Himalayan Re granted India reinsurance licence
The privately owned reinsurer has been granted a reference number by IRDAI allowing the company to do reinsurance business from India.
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- January 23 2024
PFAS exclusions find few takers in Asia’s competitive landscape
(Re)insurers in the region have been cautious about including clauses related to these 'forever chemicals' as clients push back in a market that is ready to absorb the exposure.
