Country: East Asia Page 2 / 205
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- February 17 2025
Increasing costs, reduced profitability main challenge for SMEs in Hong Kong and Singapore: QBE
In Hong Kong, staff acquisition and retention and labour shortage is the second biggest concern for 50% of SMEs, while in Singapore, 56% of respondents are worried about sales growth and reduced customer spending.
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- February 17 2025
MS&AD accelerates, while Tokio Marine, Sompo see overseas topline growth moderate in Q3 FY24
MS&AD’s foreign subsidiaries grew NWP by a combined 25%, in contrast to the 1.2% growth posted by Tokio Marine’s international non-life businesses and 0.8% by Sompo’s overseas arms.
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- February 17 2025
Tokio Marine’s underwriting profitability to improve on steady rate hikes: Fitch
Fitch Ratings also affirms insurer financial strength rating of AA- (very strong), with a stable outlook.
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- February 14 2025
Sompo restructures into global P&C, wellbeing segments
James Shea will lead global P&C business; with APAC CEO Kenneth Reilly handed additional role as deputy president Sompo Japan.
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- February 14 2025
Tokio Marine’s international P&C profit up 14.2% to US$2.2bn in Q3 FY24
Strong underwriting performance in key international entities and increases in investment income in North America contributed to the growth.
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- February 14 2025
MS&AD group profits up 137% to US$4bn on strong overseas growth
Group's overseas profits nearly doubled to top US$1bn due to lower nat cat losses and favourable investment income.
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- February 14 2025
Sompo’s domestic P&C falls 39% in adjusted profit to US$299m in Q3 FY24
Drop attributed to a rise in accident rates and unit repair costs in motor and the impact of increased company expenses due to upfront investment, offset by base profit improvement in fire.
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- February 14 2025
MS Amlin’s COR for 9M FY24 at 88.8%, reports US$163.5m underwriting profit
MS&AD-owned specialty (re)insurer reports continued growth since turnaround a year ago, posting NWP of US$1.4bn.
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- February 14 2025
Samsung Life seeks regulatory nod to incorporate group P&C arm as subsidiary: reports
Insurer approaches Financial Services Commission over a potential incorporation of Samsung Fire & Marine Insurance, according to the Korea JoongAng Daily.
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- February 13 2025
Hanwha denies reports of selling Carrot Insurance stake amid financial strains
Korean insurtech startup has been posting losses every year since its establishment in 2019.
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- February 13 2025
MG Non-Life sale: KDIC files injunction plea against union
Troubled insurer’s labour union has been disrupting the due diligence process by prospective buyer Meritz Fire & Marine.
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- February 13 2025
As Trump plays a ‘treacherous trade game’, tariffs solve nothing, leading underwriter says
Sean Dalton, vice president of the International Union of Marine Insurance (IUMI), says the rising risks of an all-out trade war between the US and China are a huge concern for insurers and clients.
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- February 12 2025
Samsung Fire & Marine FY24 insurance profit down 6% at US$1.3bn
South Korean carrier's motor insurance COR deteriorated to 98.3% in FY 24 from 96.6% last year, while the P&C business' loss ratio for the period worsened to 64.4% from 61% in FY23.
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- February 12 2025
BDIC unveils crypto insurance platform as it readies for Asia launch
The crypto insurer will roll out first in key Asian markets, including Hong Kong, Singapore, Japan, Taiwan, and South Korea and targets Southeast Asian markets by Q4.
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- February 12 2025
WTW expands CRB business in Japan with Marsh hire
Kohsuke Komorizono joins as head of risk and analytics, reporting to Roy Nakazawa, head of Japan and corporate risk and broking in the country.
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- February 11 2025
Assurex Global bolsters APAC presence through Huatai partnership
Beijing-based Huatai, majority-owned by China Re, will join the broker's global network of over a hundred independent partners.
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- February 10 2025
Macau insurers prepare for costly RBC shift, advised to follow Hong Kong lead
As Macau gears up for the new risk-based capital regime set to replace the current solvency framework, domestic carriers may encounter operational hurdles and increased costs.
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- February 10 2025
BOC Aviation settles Irish lawsuits against insurers over stranded Russian jets: report
SMBC Aviation Capital has, meanwhile, reached settlements with Swiss Re and Scor Europe, two of the 18 insurers it is pursuing litgation against.
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- February 10 2025
MG Non-Life owner to move court as talks with union break down: report
Korea Deposit Insurance Corporation's sale of the insurer to Meritz Fire & Marine has been stuck over the labour union's opposition.
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- February 7 2025
Allianz Commercial promotes Horace Gon to deputy Hong Kong CEO
New role in addition to responsibility as head of financial lines for Hong Kong and greater China.
