Country: East Asia Page 31 / 205
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- December 19 2023
Industry monitors maritime risks amid escalating South China Sea tensions
APAC insurers remain cautiously optimistic that the dispute will not broaden to involve the wider maritime community transiting the waters.
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- December 18 2023
Qianhai Re to diversify non-life porftolio to drive growth, on course to improve capital structure: AM Best
The rating agency has affirmed a reinsurer rating of A- (excellent) with a stable outlook taking into account its very strong balance sheet, adequate operating performance and neutral business profile.
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- December 15 2023
OneDegree Group gets strategic investment from Dubai Insurance
Following the partnership, the Hong Kong-based virtual insurer will offer professional indemnity and directors' and officers' policies, primarily catering to web3 companies, in UAE.
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- December 15 2023
Swiss Re International to take over defunct Target Insurance’s EC policies
The 32 in-force employee compensation policies issued by the Hong Kong taxi insurer will be transferred from April 1, 2024.
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- December 15 2023
China Aircraft Leasing gets US$23.57m insurance settlement for jets stranded in Russia
Following similar deals in the last two months, Russian insurer NSK will make the payout for one aircraft leased to Aeroflot and the Chinese lessor has agreed to release its claims against all parties.
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- December 15 2023
Shanghai Insurance Exchange sets template for reinsuring Greater Bay Area climate risks: Axa’s Sally Wan
Both Hong Kong and Shanghai have a role to play in helping (re)insurers manage risk and grow their P&C businesses, from climate to infrastructure risks, says the Greater China CEO.
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- December 15 2023
KSCFC to recover profitability despite changes in regulation: Moody’s
Rating agency affirmed A3 insurance financial strength rating; maintains stable outlook.
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- December 14 2023
PICC P&C’s agricultural business sees fastest growth for 11M2023
The government's initiative to expand coverage to more commodities should help non-lifers to uphold their growth dynamics in agri insurance, analysts said.
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- December 14 2023
China rolls out red carpet for foreign marine insurers to boost reinsurance capability
Local insurers' underwriting and loss prevention capabilities can be improved, according to a guiding opinion jointly issued by the central bank and several financial regulators.
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- December 13 2023
Korean regulator sets mandatory crypto insurance requirement on operators
Virtual asset service providers must set a min 5% compensation limit based on customers’ virtual assets stored in hot wallet, the Financial Services Commission said.
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- December 12 2023
China to pilot expanded agri cover scheme
The public-private partnership programme will provide coverage to rubber farmers in Yunnan, Hainan either on the costs or revenue of the insured plantation.
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- December 11 2023
China Taiping HK bottomline to ride on investment income as underwriting performance remains marginal: AM Best
The Hong Kong insurer's rating of A (excellent) with a stable outlook has been affirmed by the rating agency, however, noted that COR has been above 100% despite a steady decline in loss ratios coupled with lowering expense ratios.
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- December 11 2023
Korean Re’ underwriting to benefit from plan to offload unprofitable domestic personal lines: AM Best
The Korean reinsurer's rating outlook has been upgraded to positive from stable on a strengthening balance sheet, robust operating performance and unchallenged business profile fundamentals, the rating agency said.
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- December 11 2023
Lack of investor awareness stifling Hong Kong’s US$560m cat bond market
Senior executives at insurers, brokers and the World Bank applaud the city’s effort to grow its insurance-linked securities market, but challenges remain.
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- December 8 2023
Moody’s cut in China outlook hits Sinosure, PICC, CPIC P&C, China Life P&C and 2 captives
The downgrade warning reflects evidence that financial support will be provided to financially stressed local governments and SOEs, posing broad downside risks to the country's fiscal, economic and institutional strength, the rating agency said.
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- December 8 2023
CSM growth to drive Korean non-life insurers’ assets, profitability: Fitch
Korean non-life insurers to be stable in 2024, amid a high-interest-rate environment, despite facing uncertainty over the operating environment, with prolonged inflation and high interest rates.
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- December 7 2023
Meritz Fire & Marine Insurance’s low loss ratio supports stable outlook: AM Best
The rating agency says strong earning stream will support its balance sheet strength, but real estate loan exposure requires monitoring.
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- December 7 2023
Singapore, Hong Kong set to see wave of insurance M&A in 2024
A Clearwater Analytics survey of insurers and insurance asset managers in the region noted that PE firms have taken an increasingly positive view on the acquisition potential of carriers in the two cities.
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- December 7 2023
Global brokers making headways in Japan’s tough insurance market
As the industry battles governance issues and scandals, the agent-dominated market is seeing a shift towards professional intermediaries with specialist skills and independent advice.
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- December 7 2023
China non-life premium growth ‘unlikely to accelerate’: Fitch
Underwriting results of smaller insurers to remain volatile because many of them are still in the midst of building their non-motor insurance portfolio.
