Country: East Asia Page 12 / 203
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- August 6 2024
WTW Japan appoints Marsh veteran Harunobu Hirose as head natural resources
The global broker continues its team build-out in the country with the appointment of Tokyo-based Hirose.
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- August 5 2024
Axa debuts parametric heatwave cover for Hong Kong, Macau outdoor workers
Insured individuals are eligible to receive a payout of US$12.9 each, or an ‘anti-heatwave kit’ of an equivalent value, without the need to submit claims or prove damage or loss.
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- August 5 2024
South Korean digital carrier Carrot gets exclusive rights to use behavioural-based motor insurance
Motor insurance, sold by 12 general insurers in Korea, is typically standardised with minimal differentiation, and therefore, exclusive rights are rare.
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- August 5 2024
Markel strengthens APAC team with four hires in Hong Kong and Singapore
Jenny Choi and Anna Tan join the carrier in Hong Kong as senior underwriters for casualty and fine art & specie, respectively, and Olga Wong and Isabelle Wong have been hired as senior underwriter for professional financial risk and cargo underwriter in Singapore, respectively.
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- August 5 2024
Tesla renews bid for China insurance broking licence: report
The electric car maker has registered a new broking company after the firm it had initially set up in Shanghai in 2020 to apply for an intermediary licence was "cancelled" in April this year.
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- August 5 2024
Typhoon Gaemi losses to weigh on Taiwan, Philippines reinsurance market
While China losses are the most significant out of all three markets, the local reinsurance market is unlikely to be affected as agricultural sector is covered by the government.
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- August 5 2024
China P&I eyes South-East Asia expansion, global tie-ups for reinsurance, claims support: AM Best
AM Best has affirmed the financial strength rating of A- (excellent) for China Shipowners Mutual Club with stable outlook.
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- August 2 2024
Talcott secures first Japan flow reinsurance deal with Dai-ichi Frontier Life
The global life reinsurer Talcott announced the appointment of Yasuhisa Watanabe as chief representative, Asia Pacific.
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- August 2 2024
China United Property Insurance removed from negative rating watch, downgraded: Fitch
The rating action is due to potential reduction in support from parent China Orient Asset Management and the insurer's weakening capital strength, the rating agency said.
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- August 1 2024
Munich Re’s Ajeet Phatak takes over as CEO for Korea
Phatak, who was previously head of client management for Munich Re Japan, was appointed in the new role following a wider regional leadership reshuffle earlier this year.
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- August 1 2024
MSIG Hong Kong bucks market trend with lower claims payout in stormy 2023
Claims settlement ratio for the general insurer also improved for the fourth straight year to 93.2%, as healthcare claims returned and property, motor-related claims climbed due to extreme weather events in September, said CEO Philip Kent.
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- July 31 2024
HKIA to charge intermediary licence fees from September 23
The fee will be applicable for insurance brokers and agencies applying for a new licence, renewing licence, adding a line of business and for approval of responsible officers.
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- July 31 2024
S&P Global upgrades Japan P&I outlook to ‘positive’ on strong capital position
Japan P&I will likely strengthen its capital level further and maintain solid profitability. Its has accumulated a large amount of free reserves in FY2023.
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- July 29 2024
Typhoon Gaemi triggers flooding and landslide in mainland China, leads to US$50m agri losses in Taiwan
Hundreds of thousands of people have been evacuated in multiple provinces of China with hundreds of chemical and mining companies suspending operations and train services stopped.
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- July 26 2024
Sompo China to sustain profitable underwriting: S&P Global
The rating agency has affirmed the carrier's 'A' long-term local currency financial strength rating and issuer credit rating with a stable outlook.
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- July 26 2024
China Re’s COR to improve in next two years on portfolio overhaul: S&P Global
The state-owned reinsurer's combined ratio will likely lower to 99% from the five-year average of 102.1%. The rating agency has also affirmed its "A" rating and "stable" outlook.
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- July 26 2024
MSIG China’s subdued liability book weighs on underwriting performance: S&P Global
The rating agency affirmed its 'A' rating with a stable outlook, reflecting the outlook on the core operating entities of MS&AD.
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- July 26 2024
Opinion: China’s onshore oil & gas expansion throws spotlight on risks for insurers
With China's new exploration projects, questions remain over which (re)insurers will benefit at a time when the backlash against failure to exit from fossil fuels underwriting grows louder.
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- July 26 2024
Nova Insurance set to fully acquire China arm by year-end
While it will be business as usual for the Hong Kong broker's China unit, it has also received regulatory approval to open a branch in the city of Suzhou, its third in the country.
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- July 26 2024
Typhoon Gaemi to make landfall in mainland China after hitting Taiwan and the Philippines
The storm, which landed near the city of Hualien that faced losses from an earthquake earlier this year, is believed to be the most powerful storm to hit Taiwan in eight years.
