Country: Asia Page 82 / 403
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- October 20 2023
AM Best affirms Peak Re’s ratings as focus on risk selection helps earnings rebound
The rating agency has affirmed the Hong Kong-based reinsurer's financial strength rating of A- (Excellent) with a negative outlook.
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- October 20 2023
Record heat in 2023 spurs myriad APAC nat cat losses
15% of insured nat cat losses so far this year have been in Asia, with yet another US$100bn-plus loss year in the making, says Gallagher Re.
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- October 20 2023
Gallagher Re hires Priyanka Bhalla as associate director for India
Mumbai-based Bhalla joins from domestic broking company Hero Insurance Broking, where she was vice-president, reinsurance.
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- October 19 2023
Samsung Tugu to gain from Korean investments in Indonesia: AM Best
AM Best has affirmed the Jakarta-headquartered insurer a rating of A- (excellent) with a stable outlook after it posted a five-year average combined ratio of 57%.
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- October 19 2023
India dam collapse claims’ burden on carriers may be lower due to glacial lake outburst rider
Early reports by the National Disaster Management Agency say the event was likely a GLOF, for which claims payable are capped at US$60m per any one accident.
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- October 19 2023
Most Asian economies to see an increase in insolvencies: Allianz Trade
Countries set for the largest rises include South Korea, Japan, Australia and New Zealand, but Hong Kong is set to see a decrease in 2024.
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- October 19 2023
QBE and MS First Capital withdraw Covid BI appeal against Thailand resort owner
Relax Beach, which owns Le Meridien Phuket Beach Resort, now stand to potentially receive millions of dollars in claims after it was forced to close in April 2020.
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- October 18 2023
Bolttech mulling US$300m US listing: report
The Singaporean insurtech is in talks with investment banks for the potential share sale, which may take place as soon as next year, according to Bloomberg.
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- October 18 2023
Exclusive: Gallagher sees senior exits amid wider APAC leadership shake-up
There have been several changes to the broker's APAC management in recent months, including the departure of North Asia CEO Thomas Wang.
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- October 18 2023
Generali and UNDP partner to help bridge SME protection gap in Asia
A new framework will be hosted on an online platform offering advice on how businesses can protect their activity in the face of climate challenges.
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- October 17 2023
China Taiping’s ratings upgraded on improving margins, risk control: S&P Global
The Chinese carrier's earnings will stabilise going forward and it will reduce debt in the next two years, the rating agency said.
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- October 17 2023
Swiss Re CorSo in China exploring mid-market opportunities
Specialist offerings like international program, parametrics, digitalisation and distribution partnerships key to its plans, according to Greater China CEO Jeffrey Pan.
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- October 16 2023
IRDAI restrains bidder to pledge Reliance General shares for parent sale: report
RBI-appointed administrator of debt-ridden R-Cap has written to Hinduja Group firm to submit a fresh application along with the source of funds and the business plan.
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- October 16 2023
PICC injects US$280m into PICC Reinsurance
The company said the cash injection, which will boost capital to around US$760m, will help the reinsurer support business development and strengthen synergies.
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- October 16 2023
Opinion: Asian (re)insurers are waking up to a new typhoon loss reality
2023 has been a wet one across the region, while the size, intensity and frequency of windstorms appear to be increasing, especially in China.
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- October 13 2023
AIG takes BHSI’s Matthew Bond to head energy and construction for APAC
Bond, to be based in London and Singapore, will be responsible for underwriting and business development across the region.
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- October 13 2023
MoneyHero to list on Nasdaq following SPAC deal with Pacific Century and Thiel Capital
The deal gives the financial services platform, which operates in Singapore, Hong Kong, the Philippines, Malaysia and Taiwan, access to around US$100m of capital.
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- October 13 2023
CCi appoints Nick Barham as head of technical expert services – Asia
Barham, who is relocating to Singapore, will lead the expansion of the consultant's technical engineering services to its insurance and construction clients in the region.
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- October 13 2023
Samsung Vina Insurance signs property products deal with Shinhan Bank Vietnam
In the first six months of 2023, property insurance revenue in Vietnam achieved a growth rate of 10.9%.
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- October 13 2023
Asian aviation, marine markets react to war risk peril as Israel conflict breaks out
A senior market source tells IAN that airlines are unlikely to be able to gain cover as Israeli government steps in with US$6bn to support home carriers.
