Country: East Asia Page 29 / 205
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- January 17 2024
Munich Re’s Wenning says its China ‘footprint’ would outsize other markets over time: report
The reinsurer plans to scale up its China business as it expects the country to emerge as the largest insurance market in the world.
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- January 17 2024
Zheshang P&C’s underwriting profitability slated to improve: Fitch Ratings
The rating agency has assigned the Hangzhou-headquartered carrier rating of 'BBB' (good) with a stable outlook as its COR improved to 104% in 2023.
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- January 16 2024
China’s ‘real estate development model 2.0′ keeps non-life insurers’ growth buoyant
- Analysis
- Commercial
- China
- China Continent P&C
- China Life P&C
- China Re
- China Taiping
- PICC Property and Casualty
Government spending on affordable housing and public facilities will cushion insurers from the sector's downturn, sustaining the country's P&C premium growth of at least 7% for 2023 and 2024.
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- January 15 2024
NorthStandard expands Japan P&I collaboration with Tokio Marine
The partnership will see the P&I club handle claims and underwriting matters, while the Japanese carrier will bring its sales network to reach new customers.
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- January 15 2024
Hong Kong’s proposed risk-based capital requirements extend waivers to marine, captive insurers
The Insurance Authority of Hong Kong has proposed a set of rules that seek to lighten the compliance burden for captives and marine insurers under the new capital regime slated for 2024 2H.
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- January 15 2024
Taiwan election results weigh on vexed political risks market
China-sceptic Lai Ching-te's victory in the presidential polls raises worries that cross-straits relations may strain further, however, a weakened mandate and loss of legislative majority could have a moderating influence.
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- January 12 2024
China Taiping former deputy manager Xiao Xing arrested
Xiao was arrested on suspicion of taking bribes after China's top anti-graft watchdogs found 'severe violations of discipline and law' on his part.
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- January 12 2024
Insured losses from Japan earthquake could reach US$6bn: Moody’s RMS
The final estimates could inch upwards as this model does not include losses to non-modelled exposures such as transport and utility infrastructure, government, or automobile lines, the cat modeller said.
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- January 12 2024
Asia SRCC and terrorism market seeks further protection as unrest looms
Underwriters unsettled by rising losses are looking to limit exposures with political and civil unrest risks going up in more than 50% of countries over the last 12 months.
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- January 11 2024
ILS fund Leadenhall hires Yuko Hoshino to grow Japan, Asia fundraising
London-based Hoshino will report to Lorenzo Volpi, managing partner and deputy CEO of the Mitsui Sumitomo-backed ILS investment manager.
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- January 10 2024
Generali takes 100% ownership of China P&C JV
The global insurer has bought out the 51% stake owned by CNPC Capital in Generali China Insurance for US$108m through a public auction.
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- January 10 2024
Minimal impact seen on insurers following Japan earthquake: Fitch
The three non-life carriers have limited net retention on residential earthquake risk, which is run by the government, and on commercial risks, which is largely reinsured.
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- January 10 2024
Japan earthquake: BI, supply chain claims add to climbing loss estimates topping US$5bn
With early forecasts ranging from US$1-6.4bn, largely from property losses, a greater number of claims are anticipated once access is restored, loss adjusters say.
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- January 10 2024
Howden Hong Kong chief executive Mark Johnson set to leave; Alfred Sham named interim CEO
Johnson will remain with the firm to ensure an orderly transition until the spring.
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- January 9 2024
Typhoon Doksuri tops APAC nat cat overall losses at US$25bn: Munich Re
Two major disasters in New Zealand – Auckland floods and Cyclone Gabrielle – topped APAC insured losses at around US$4 billion.
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- January 9 2024
Duncan Ainsby returns to WTW corporate risk and broking team
Hong Kong-based Ainsby, who comes from Acrisure Re, joins as head of large accounts practice, north Asia.
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- January 9 2024
Japan earthquake insured losses could be up to US$3.3bn: Verisk
While most of the damage occurred in Ishikawa prefecture, including a large fire, damage from ground shaking and liquefaction was observed in other prefectures such as Niigata and Toyama.
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- January 8 2024
Hong Leong Insurance’s revenues to grow with stable underwriting margins: AM Best
The rating agency has affirmed HLIA’s insurer rating at A- (excellent) with a stable outlook as it expands into commercial lines.
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- January 8 2024
APAC 1.1 renewals got done ‘for right rates on right terms’
With 10% additional capacity, loss-free and cat XL programs were flat or up to 5-10%, while loss-affected ones saw 25-30% hikes, say regional experts from Guy Carpenter, Peak Re and TransRe.
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- January 8 2024
PICC, China Re, China Taiping have ‘trillions of yuan’ exposure to Belt & Road projects, nat cat
The three leading Chinese (re)insurers said they provided coverage to the country's high-tech, aerospace sectors, infra projects and cat relief with the sum insured amounting to several trillion yuan each.
