Country: East Asia Page 29 / 215
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- June 10 2024
Bolttech Hong Kong sees service results improve on lower expenses, reserve release: Fitch
The rating agency affirmed the Hong Kong general insurer's BBB+ (good) rating with a stable outlook.
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- June 6 2024
Korean regulator to review CSM metric targeting insurers’ profit inflation: report
The Financial Services Commission is considering changes to the amortisation method that insurers apply to contractual service margin (CSM), as some critics have argued it has allowed insurers to inflate short-term profits.
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- June 6 2024
FWD Group revives IPO plan, targets valuation up to US$9bn: report
The offer size and timeline for the initial public offering are yet to be finalised, Reuters said in a report quoting three anonymous sources.
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- June 6 2024
WTW appoints Alexandra Low as head of trade credit for Hong Kong
Low will report to Lee Garvey, head of financial solutions, Asia Pacific, and Iris Chan, head of corporate risk and broking for Hong Kong and Macau.
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- June 6 2024
Macau could implement RBC by 2027: report
An Insurance Supervision Department's representative told IAN that the date of the implementation of the risk-based capital regime is not yet finalised as further industry discussions are required.
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- June 6 2024
Prudential Financial to acquire 10% stake in Qianhai Re
The deal, pending regulatory approval, will make the US insurance group the first foreign minority shareholder in the Shenzhen-based reinsurer.
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- June 5 2024
AIG elevates Ivan Ho to head of casualty, Hong Kong and Macau
Singapore-based Ho has been the carrier's environmental underwriting lead for Asia Pacific since June 2021.
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- June 5 2024
Toa Re reshuffles key roles, appoints Michinari Takasaki as managing director
The Japanese reinsurer has named two new directors and promoted six executives to general manager roles effective June 27.
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- June 4 2024
Hans Vranken takes over as Axa Korea CEO
Vranken has over 18 years of experience in financial services and insurance industry across Madrid, Tokyo, Belgium under Axa Group.
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- June 4 2024
Chubb Hong Kong hires Starr’s Catherine Wong as head of casualty
With over 25 years of experience in commercial casualty, Wong was most recently Starr's APAC head of casualty since April 2023.
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- June 3 2024
Seoul Guarantee Insurance partners Asuransi Asei to grow Indonesian surety presence
The two insurers will explore new revenue models and establish joint underwriting and reinsurance plans for the surety and credit insurance markets.
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- May 31 2024
Hong Kong 2024 Q1 P&C underwriting profit doubles to US$132m
The improvement came despite the sector’s total gross claims rising 12.1% as insurers in the city benefited from the release of prior-year reserves, the Hong Kong Insurance Authority said.
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- May 31 2024
Blackpanda senior duo leave to launch loss adjusting venture
Hong Kong-based chief revenue officer Timothée Grange and loss adjusting VP Moying Chap are leaving the MGA at the end of this month.
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- May 30 2024
MSIG HK’s underwriting to stay profitable over next two years: S&P Global
S&P has affirmed its "A+" rating on the insurer with a stable outlook, as the carrier will preserve profitability through its stable Japan-related business.
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- May 30 2024
Emerging carbon credit insurers take roots in Asia Pacific
Specialist players like Kita and Oka have recently set up shop in the region as the market here is growing with Australia, Japan and Singapore leading the way.
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- May 29 2024
Geographic diversification will support Japan P&C insurers’ profitability: Moody’s
- Japan
- Aioi Nissay Dowa Insurance
- Mitsui Sumitomo Insurance
- MS&AD
- Sompo
- Tokio Marine
- Tokio Marine & Nichido Fire
While the sector's outlook is stable, the insurers' overseas premium growth would slow in the next 12-18 months, the rating agency said.
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- May 28 2024
Japan hail fall insurance payout reaches US$214m: GIAJ
Insurers see 98% claims settled out of total 92,424 accepted claims as of April 26, according to GIAJ.
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- May 27 2024
Tropical cyclone landfalls in East Asia set to be above-normal: Guy Carpenter
The western North Pacific region will likely see 19 to 21 tropical cyclone formations this year, which is near-normal activity, according to the reinsurance broker.
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- May 27 2024
Insured losses from Noto earthquake at US$540m: GIAJ
The non-life insurers have settled 67% of the 140,539 accepted claims from across the prefectures hit by the January 1 tremors.
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- May 24 2024
HKIA appoints new executive directors for GI and long-term business
Lee Moung-mo will have oversight of general business, while Marty Lui will take charge of long-term business.
