Country: China Page 2 / 75
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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
China’s Urtrust Insurance could see loss ratios climb: Fitch Ratings
The rating agency has affirmed the insurer's rating of 'BBB' with a stable outlook.
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- October 11 2023
Extreme events in Greater China could lead to US$4.6tn economic losses over five years: Lloyd’s
This is the largest financial impact, closely followed by Asia Pacific with the losses worth US$4.5 trillion, says new Lloyd's systemic risk scenario that models food and water shocks.
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- October 10 2023
Berkley hires Tony Yu as Greater China claims manager
Yu will report to Sica Quan, head of claims for North Asia, and Roden Tong, chief executive of the Hong Kong branch.
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- October 2 2023
Taiping Re’s ratings affirmed as operating performance turnaround continues: AM Best
The reinsurer is building on its leadership position in Greater China and expanding in South-East Asia.
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- September 27 2023
Ping An rings in leadership changes as co-CEO Jessica Tan resigns
Michael Guo, the group's chief human resources officer, replaces Tan, with veteran Sun Jianping stepping into the HR position.
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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 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 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
CIB’s chairman Alex Yip eyes GBA opportunities for Hong Kong’s specialty market
Since transitioning away from being a self-regulatory body, the Confederation of Insurance Brokers is focusing on redeveloping the city as a ‘key hub’ for the Asian (re)insurance sector.
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- September 15 2023
Extreme heat, typhoon ‘most concerning’ climate hazards for APAC: MSCI
Fujian, Hong Kong, Shanghai, Hainan and Guangdong are among some of the most at-risk regions for tropical cyclones, according to the data firm.
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- September 12 2023
Swiss Re’s Mael He becomes head of client underwriting, China
Prior to the appointment this month, He was heading the reinsurer's APAC agriculture business.
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- September 11 2023
Hannover Re expects APAC rates to harden further in 2024 after 1.4, 1.6 and 1.7 uplift
The reinsurer expects insurers to raise retentions for nat cats to counter increased costs, as it secured better prices and conditions, especially for non-proportional treaties.
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- September 11 2023
Hong Kong to see most claims since 2018 typhoon after record rainfall; Shenzhen also hit
Rates to harden as insurers count costs of BI claims, damage to vehicles, flats, roads, hotels, shopping malls and metro stations caused by flooding, according to market experts.
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- September 7 2023
Analytics: Chinese P&C carriers focus on agri, liability offerings in acceleration away from motor
- Analytics
- Agriculture
- China
- China Continent P&C
- China Pacific Insurance P&C
- PICC Property and Casualty
- Ping An
- Sunshine Insuranece
Improved underwriting results, new products and a push from the government are driving growth, but an uncertain economic outlook has seen carriers rush to pare credit surety exposures.
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- September 5 2023
China’s (re)insurance sector’s solvency ratio ‘adequate’ at Q2 2023: NAFR
At the end of the second quarter, the total assets of China's insurers and reinsurers were up 7.6% from the start of the year to US$4tn.
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- September 4 2023
China P&I eyes overseas expansion, global tie-ups for reinsurance, claims support: AM Best
The rating agency has affirmed an insurer rating of A- (excellent) for the Chinese P&I club with a stable outlook.
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- September 4 2023
Typhoon Saola triggers claims across Hong Kong, Macau, China and the Philippines as Haikiu hits Taiwan
The storm to bring loss accumulation of tens of millions of dollars from flooding, crop damage, car and yacht write-offs, flight disruptions, fallen solar panels and trees.
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- September 1 2023
PICC on hook for US$530m from Typhoon Doksuri with reinsurance deductibles at US$150m
The slow moving, powerful storm in July, which was China's costliest typhoon on record, has left the market with a claims' bill of over US$1bn.
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- August 31 2023
Hong Kong, Guangdong and Macau prepare as Super Typhoon Saola nears; Typhoon Haikui tracks China landfall
Saola, potentially the SAR's strongest storm in five years, to bring strong winds and heavy rainfall as another typhoon heads towards Taiwan and eastern China.
