Country: East Asia Page 4 / 203
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- November 26 2024
Sony Financial Group acquires Japanese digital insurer justInCase
The acquisition is aligned with the group's strategy to look at the small-amount, short-term insurance businesses as a way to expand its customer base.
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- November 26 2024
Aon to acquire Mitsubishi Chemical Group’s in-house insurance agency in Japan
The in-house team will transition to the broker's brand and operating model under the leadership of country head Tatsuya Yamamoto after the close of the transaction.
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- November 25 2024
MS&AD reports 18% reduction in greenhouse gas emissions
The carrier's interim target is to reduce emissions by 37% by FY 2030 compared with FY 2019 levels.
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- November 25 2024
Allianz Trade targets to capitalise on Asia’s shifting supply chains
The carrier is eyeing South-East Asia expansion and adapting to China's evolving trade landscape amid post-pandemic challenges, says APAC head Paul Flanagan.
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- November 22 2024
Fidelidade Macau improves ROE on China border reopening, light rail transit project: Fitch
The rating agency has affirmed the P&C carri rating at 'A' (strong) with a stable outlook driven by the insurer's strategic importance to its Portuguese parent company.
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- November 21 2024
Seoul Guarantee Insurance could see decline in underwriting performance on a rise in paid claims: Fitch
The rating agency has affirmed SGI’s rating at 'AA-' (very strong) with a stable outlook taking into account its strong capitalisation, financial performance, and the support it receives from the government.
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- November 21 2024
Interest in standalone renewable treaties in APAC remains strong: Gallagher Re
There is rate adequacy in the market ahead of the 2025 renewal season as costs have stabilised in the reinsurance market, according to a whitepaper on renewable energy by the reinsurance broker.
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- November 20 2024
Japan’s big three post US$8bn windfall from strategic holdings unwind
The major insurance groups also showed significant improvements in H1 CORs as they benefitted from benign loss environment at home and overseas and robust premium growth.
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- November 19 2024
Generali GC&C hires Nicholas Selff from Chubb as head of underwriting for Asia
Selff, who has relocated to Hong Kong, started with the insurer's leadership team on November 18.
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- November 18 2024
Taiwan prohibits vessels covered by four insurers from commercial seaports
The action follows the carriers' – Ascent, Edinburgharian PANDI Management, Polaris and Arsenal – failure to resolve shipwreck-related disputes.
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- November 18 2024
China Re’s overseas P&C business posts robust growth, says AM Best affirming its rating
The rating agency noted Chaucer continues to be the major driver of overseas non-life reinsurance revenue.
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- November 15 2024
QBE’s Gordon Wong joins MSIG Hong Kong as senior vice president
In his new role, Wong will drive all intermediate business and oversee the growth of broker, agency and Macau channels.
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- November 15 2024
Emerging capital standards to increase Korea, HK and Taiwan insurance consolidation: Fitch Ratings
Regulators in the Asia Pacific region are upgrading existing solvency frameworks with a growing emphasis on aligning with ICS, IFRS 17 and other global regimes.
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- November 15 2024
South Korea’s non-life insurance outlook stable on new regulations, strong P&C, motor results: AM Best
In terms of challenges faced by the segment, AM Best highlighted slower expansion of auto insurance owing to recent rate cuts and sluggish growth in motor vehicle registrations as a key factor.
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- November 12 2024
Howden expands in Hong Kong with Storfield acquisition
The SAR-based broker has a specialist focus on bloodstock, fine art, luxury vehicle and yacht insurance.
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- November 12 2024
AIG Korea takes Aon’s Han Bit Kim as financial lines underwriter
Seoul-based Kim was most recently manager for the broker focused on the dynamics of large complex insurance policies.
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- November 11 2024
China’s ZhongAn’s operating performance is subject to investment volatility, business risk: AM Best
The rating agency affirms financial strength rating of A- (excellent) and long-term issuer credit rating of “a-” (excellent) to the carrier with a stable outlook.
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- November 8 2024
Sinosure limits trade credit insurance for exports to Russia: report
The Chinese state-owned carrier has reportedly started refusing to insure supplies against the risk of non-payment to Russia fearing payment disruptions and secondary sanctions.
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- November 6 2024
Xiaomi joins BNP Paribas, Volkswagen to enter Chinese non-life market
The country’s regulator has approved Beijing BNP Paribas Tianxing Property & Casualty Insurance as three-way JV between the smartphone maker's financial services arm, the French banking group and the carmaker's local lending arm.
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- November 1 2024
KB Insurance sees growth in capital and surplus: AM Best
The rating agency has affirmed the financial strength rating of A (excellent)for the South Korean carrier with a stable outlook.
