Country: East Asia Page 51 / 206
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- February 28 2023
DB Insurance acquires Vietnam National Aviation Insurance
The Korean carrier, in its second Vietnamese acquisition, has picked up a 75% stake in the Hanoi-based P&C insurer.
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- February 28 2023
Gard promotes Louis Shepherd as Japan managing director
Shepherd replaces John Martin, who has acted as interim MA of Gard in Japan since Tadashi Sugimoto stepped down in October 2022.
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- February 27 2023
Taiping Re H1 2022 COR at 97%: Fitch
The rating agency affirmed the reinsurer and the state-owned insurance group’s ratings at A with a stable outlook.
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- February 24 2023
Shanghai Electric captive rebuilds traditional lines with subsidy resumption
The carrier's topline is back to 2020 levels with the restarting of specialty underwriting in March 2022, says AM Best.
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- February 24 2023
Axa continues pivot from nat cat reinsurance
Axa XL's property cat premiums fell 36% in FY 2022, while the French giant saw Asia P&C profits rise 34% to US$109m.
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- February 23 2023
Axa XL appoints APAC broker and distribution leader, names China property head
Winston Zhuo joins in Shanghai from Allianz, while Carlson Grote has switched to distribution from client management.
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- February 23 2023
Hyundai Insurance’s premiums grow 5.8% to US$12.6bn
The Korean carrier's commercial arm's COR for FY 2022 was at 89.2%.
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- February 23 2023
Hong Kong’s budget extends ILS and talent training schemes
The Insurance Authority and HKFI welcomed the moves, as the government cut SME taxes, provided consumption vouchers and explores ways to re-domicile firms to the SAR.
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- February 22 2023
PSC bolsters H1 top line by 15%, ups FY profit guidance
The Melbourne broker benefited from recent acquisitions, including in Hong Kong, and 9% organic growth, as it registered net profit of US$14.7m.
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- February 22 2023
Hong Kong’s Nova Insurance sees 20.7% revenue growth in first half
The broker's revenue climbed to US$7.8m, helped by an increase in professional indemnity and trade credit lines.
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- February 21 2023
Samsung Fire & Marine P&C underwriting profits dive 95% to US$3m
The group, including motor and long-term businesses, posted a COR of 102.2% in FY 2022 at an underwriting loss of US$315m.
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- February 21 2023
Opinion: Asia’s mega rail projects to ignite premium boom
The China-backed infra projects set to generate US$14bn by 2030 come as a blessing for local and international carriers.
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- February 21 2023
Sunshine’s outlook brighter as Fitch upgrades over fresh capital, investments rejig
The Chinese carrier's P&C arm reported a better underwriting performance with a COR of 96% in H1 2022, down from 100% in H1 2021.
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- February 16 2023
Fubon Insurance Vietnam under review with negative implications: AM Best
The Taiwanese parent was downgraded on February 3 and put on ratings watch for negative implications
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- February 15 2023
Ramon International elevates Lee Ellis to chief strategy officer
London-based Ellis will assume board roles across international operations of the Lloyd's broker, which entered Asia last year through the acquisition of CKI Korea.
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- February 15 2023
Covid, nat cat woes continue at Japan’s ‘big three’
Net profits at Tokio Marine fell 27.4%, with Sompo Holdings declining 79.5% and MS&AD dropping 57% for the first nine months of FY 2022.
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- February 15 2023
Ping An floats first-ever ocean carbon sink insurance
Product provides US$58,000 worth of cover against specific changes in the marine environment that damage local species.
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- February 14 2023
FM Global handed Korea licence
The commercial property specialist has appointed Yong-Ju Shim as the Seoul office manager.
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- February 14 2023
Asia flood losses to worsen amid data deficit
(Re)insurers are feeling the heat from record rainfall events and fast-evolving climate risk scenarios.
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- February 13 2023
Auckland floods and Turkey earthquake add pressure on upcoming renewals
Recent disasters are likely to trigger reinsurance payouts and add to the capacity woes and rate increases that's been vexing renewals.
