Country: East Asia Page 37 / 215
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- February 14 2024
MS Amlin COR for 9M FY 2023 improves to 90%, reports solid top-line growth
The MS&AD-owned specialty (re)insurer reported insurance service profit of US$309m, reversing the loss reported a year ago.
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- February 14 2024
WTW strengthens Korea, Vietnam offerings with co-brokerage deal
The broker has signed an arrangement with New York-based Solomon Agency to provide insurance solutions to North American exposures of companies headquartered in the region.
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- February 13 2024
FSA orders Japan big four carriers to step up cross-holdings divestment: report
The four major non-life players at the centre of the price-fixing scandal must speed up unwinding their cross-shareholdings as the regulator tightens it scrutiny, Nikkei Asia reported.
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- February 9 2024
Chubb’s Greenberg flags up tail risks from Asian geopolitical escalations
In an earnings call following the global carrier's 'the best in the history' fourth-quarter results led by Asia, the chief executive warned of wider global implications of regional conflicts, but reassured that 'all sides are seeking stability'.
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- February 8 2024
Fosun revives Peak Re sale process: report
The Chinese conglomerate has mandated BNP Paribas to find a buyer for a majority stake in the business and is seeking a US$1bn valuation, a Bloomberg report said.
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- February 8 2024
WTW appoints Starr’s Ryohei Nakazawa as Japan head
Based in Tokyo, Nakazawa will start on April 1 and will also head the broker's corporate risk and broking team.
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- February 8 2024
Panama Canal drought exacerbates supply chain woes for shippers hit by Red Sea troubles
Marine insurers fear further delays as canal disruptions impact Asian trade routes and the global supply chain as vital Asian goods remain gridlocked, say IUMI executives.
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- February 6 2024
Zurich promotes Clement Hau to Hong Kong CUO
Hau, who succeeds current chief underwriting officer Anthony Seeto, will start in his new role on February 26.
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- February 6 2024
AM Best removes Fubon Insurance from “under review” on recovery from Covid-19 losses
The rating agency has removed the carrier from "under review with negative implications", but assigned "negative" outlook due to its exposure to reinsurer credit risk.
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- February 5 2024
Taiwan non-life sector returns to profitability in 2023
Pre-tax profit for the non-life sector totalled US$557m as the drag from Covid-19 related losses eased.
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- February 1 2024
Sunshine P&C Insurance to sustain underwriting profits, stable outlook: Fitch
The P&C arm of listed Sunshine Insurance Group should be able to sustain profits in the near-term due to tighter risk selection and reduced guarantee business.
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- January 31 2024
Japan’s non-life insurers to stay profitable despite large cat losses: AM Best
The rating agency is maintaining its stable outlook on the sector's underwriting performance despite sizable earthquake, typhoon and hailstorm claims.
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- January 30 2024
Japan government loss estimates for Noto earthquake up to US$17.5bn, insurance claims filed top 50,000
Damage to public infrastructure is expected to account for half of the losses, while Ishikawa prefecture is the worst hit.
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- January 30 2024
Seoul Guarantee Insurance’s parent revisits IPO plan after failing to impress investors last year: report
KDIC, the state-run parent of the Korean guarantee insurer, has made a first step towards relaunching an IPO, which was shelved in late 2023.
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- January 29 2024
Toa Reinsurance’s earnings could seesaw on nat cat and social inflation risks: S&P
Still, taking into account its strong capitalisation S&P Global Ratings has affirmed its 'A' rating on the reinsurer, despite reporting COR at over 100% for five consecutive years.
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- January 29 2024
Sompo commits to fixes and reviews as FSA issues six-point business improvement order
The Japanese insurer is taking measures including clarification of management responsibilities related to Bigmotor, and make insurance premium adjustment.
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- January 25 2024
China’s parametric pilots for nat cat cover finding early success: Taiping Re CEO
Wider use of index-based insurance and ILS is key to finding much-needed capacity for (re)insurers and widening nat cat insurance, according to Sheldon Yu.
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- January 24 2024
China Re can absorb Great Wall AMC write-off hit: S&P Global
Losses from a potential full write-off of the reinsurer's 6.5% stake in the state-owned bad debt manager would be within the reinsurer's capital buffer backing its rating.
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- January 24 2024
Election-packed 2024 revs up appetite for political risk cover
While the appetite for global programs has significantly reduced, single-country appetite remains relatively deep and is expected to see a boost in the product’s popularity over the coming months.
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- January 23 2024
Hong Kong Insurance Authority appoints Clement Lau as executive director
Lau, who had worked at the city's central bank prior to the latest appointment, will be in charge of reviewing regulatory frameworks and policies affecting the insurance sector.
