Country: East Asia Page 36 / 205
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- September 28 2023
Price fixing by Japan’s big four carriers extends to more than 100 clients: report
The findings are from internal probes, which will be handed to the Financial Services Agency on Friday this week.
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- September 28 2023
Analytics: Singapore’s H1 P&C underwriting profits nearly double
(Re)insurers benefited from strong premium growth in engineering and credit lines and a lower claims tally, however aviation hull and cargo GWP declined, according to MAS data.
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- September 28 2023
Korean Re’s earnings leap 300% aided by new accounting rules
The reinsurer also reported100% growth in its underwriting profit of US$159.4m compared with US$79.6m in H1 2022.
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- September 27 2023
Ping An rings in leadership changes as co-CEO Jessica Tan resigns
Michael Guo, the group's chief human resources officer, replaces Tan, with veteran Sun Jianping stepping into the HR position.
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- September 27 2023
Mega cargo vessels present growing claims issues for Asia ports
Cargo from larger ships is exposed to potentially higher risks by staying in ports longer, increasing the prospect of claims in relation to theft, delays in delivery, flooding, defrosting and container damage.
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- September 27 2023
MG Insurance majority owner files fresh lawsuit to stop sale: report
Korea Deposit Insurance Corporation had hired Samjeong KPMG to run the sale of the troubled carrier and had set an October 5 deadline for bids.
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- September 26 2023
Korean non-life premiums to grow 4.4% to US$94bn in 2023: Korean Re
The growth will be supported P&C lines including liability and fire with overall premiums expected at rise 7%, the reinsurer said.
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- September 26 2023
APAC carriers’ coal jitters sees excess capacity shift to renewables, gas
Regional (re)insurers are replacing ESG-hit premiums by increasing business from greener energy projects, potentially driving down rates.
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- September 26 2023
Lotte Insurance’s private equity owner to kick off sale process: report
Majority owner JKL Partners has scripted a turnaround for the carrier since a 2019 purchase, but buyers have concerns over whether the robust earnings of carriers under IFRS17 are sustainable.
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- September 25 2023
AM Best affirms Sompo Japan’s ratings on strong overseas business growth
The Japanese insurer’s international arms bring in 38% of net premiums, 74% of adjusted profits in FY 2022, the rating agency said.
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- September 22 2023
AM Best affirms Samsung Fire’s rating with its long-term insurance business driving profits
The carrier’s Indonesian subsidiary Samsung Tugu reported a five-year average combined ratio of 57%, the rating agency noted.
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- September 22 2023
Generali GC&C makes two senior Asia appointments in Hong Kong
Matthew Day becomes Asia head of risk engineering & loss prevention while Danny La joins as Asia head of strategic initiatives & business transformation.
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- September 21 2023
China-Taiwan woes put pressure on marine (re)insurance market
Lack of data for accumulation risks and unavailability of a maximum loss scenario are real concerns for the shipping sector, says IUMI president Frédéric Denèfle.
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- September 20 2023
Typhoon Nanmadol’s final loss count is US$850m: Perils
The storm hit the Japanese islands of Kyushu and Shikoku and the western and central regions of Japan’s main island of Honshu in September last year.
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- September 20 2023
CIB’s chairman Alex Yip eyes GBA opportunities for Hong Kong’s specialty market
Since transitioning away from being a self-regulatory body, the Confederation of Insurance Brokers is focusing on redeveloping the city as a ‘key hub’ for the Asian (re)insurance sector.
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- September 20 2023
Hong Kong’s drainage improvements allowed city to bounce back after historic rainstorm: Guy Carpenter
The broker notes a further five stormwater storage tanks are being planned in the SAR which saw 60 flooding and 75 landslide reports and 80 blocked roads.
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- September 19 2023
FSA searches Sompo Japan premises over Bigmotor probe: report
The inspection is to determine the extent to which the insurer was aware of Bigmotor's fraudulent activity.
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- September 19 2023
AIG makes Matthew Pereira head of commercial property, Hong Kong, Macau and Taiwan
Pereira had joined AIG as a data analyst in London and has gained experience in underwriting, primarily property-related portfolio and nat cat risks.
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- September 18 2023
HKIA rolls out Open API framework and central register
The idea is to provide guiding principles on Open API adoption, the categorisation of functions, third-party service provider governance and risk management.
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- September 18 2023
Hotai Insurance removed from ‘under review’ as Covid claims’ situation improves: AM Best
With pandemic claims stabilising, a capital injection and a recovery in investments, the Taiwanese P&C player released reserves during H1 2023 helping the firm to a US$37.5m profit.
