Country: East Asia Page 56 / 221
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- August 11 2023
Central Re will restore its non-life underwriting profitability after Covid hit: AM Best
AM Best has affirmed the Taiwanese reinsurer with a rating of “a” with a stable outlook.
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- August 9 2023
Hong Kong northbound GBA motor scheme to help spur P&C innovation
With 16 insurers already writing cross-border policies, the Greater Bay Area should create specialty and reinsurance opportunities despite a complex framework.
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- August 9 2023
China’s regulator urges insurers to settle claims from recent floods faster: report
Data from the National Administration of Financial Regulation shows 189,100 claims with damage related to property, vehicles and agriculture.
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- August 8 2023
P&I player Hydor acquires EF Marine to create specialist MGA
The combined companies will control US$40m of GWP and operate from Singapore, Hong Kong, Shanghai, Oslo, Hamburg and Rotterdam.
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- August 8 2023
Tokio Marine sets up ‘special committee’ in response to price-fixing allegations
External lawyers to examine TMNF after Japan's four largest non-life players were accused of price-fixing, as media report says the Japan Fair Trade Commission has launched an investigation.
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- August 8 2023
Taishan P&C’s 2023 underwriting result hinges on motor claims: Fitch
Fitch Ratings has affirmed an insurer rating of 'BBB+' for the Chinese insurer, with a stable outlook.
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- August 7 2023
AM Best upgrades DB Insurance’s rating to A+ as underwriting ‘outperforms’ peers
DBI is South Korea's third-largest non-life insurer with a market share of around 17% of GWP in 2022.
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- August 7 2023
Gallagher makes two senior hires for Asia financial lines push
Robert Sinclair joins the broker as director, wholesale & reinsurance placement - Asia and Chongting Xia becomes associate director, financial lines, Greater China.
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- August 7 2023
MGA Circles rings changes in Asia as Tommy Elliot takes on global CUO role
Khadinn Khan becomes responsible officer role for Hong Kong, while Kenneth Tan will oversee the specialty MGA's Singapore office.
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- August 4 2023
China’s P&C underwriting to be hit by more extreme events after record Beijing rainfall: S&P
The rating agency expects the recent flooding event to result in "a modest hit" to the sector, but the country is still in the Q3 cat season.
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- August 4 2023
Vesttoo scandal contagion to curtail Asia business
The fallout is unlikely to affect Asia cedents but could create capacity constraints for MGAs and reputational damage in the insurtech and ILS spaces.
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- August 4 2023
Falcon hires Jeff Sung as general manager as Furmen Chiu exits
Sung was most recently corporate business director, general insurance at Axa Hong Kong and Macau.
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- August 4 2023
Qin Lu becomes Aon’s Greater China CEO
He was most recently Greater China chief executive at Aon Reinsurance Solutions and head of commercial risk solutions, China.
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- August 4 2023
Taiwan insurers face high capital pressure despite eased rules: Fitch
Certain new amendments under the new solvency framework will also ease the burden on local insurers.
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- August 3 2023
Mixed picture for Asia’s P&C markets in Q2 as overall composite pricing flattens: Marsh
Hong Kong led the way in overall composite rate reductions at minus 6.6% and Taiwan climbed the highest at plus 24%.
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- August 3 2023
The Hartford’s Philip Chan to retire with Ethan Tay to lead Hong Kong operation: source
Tay, the insurer's APAC head of financial lines, will take on the additional role of responsible officer for Hong Kong, subject to regulatory approval.
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- August 2 2023
Sompo International takes BHSI’s Emily Poh to head APAC professional lines
Singapore-based Poh will report to Paul O'Neill, regional head of commercial lines.
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- August 2 2023
Japan insurance price-fixing scandal escalates as multiple complaints come to light
Reports suggest the country's big four non-life carriers may have colluded to fix premium rates in co-insurance contracts involving Tokyu Group, Keisei Electric Railway, ENEOS and East Japan Railway, among others.
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- August 2 2023
Scandal-hit Vesttoo to close Asian offices: report
The insurtech will close its Tokyo, Hong Kong and Seoul offices, and lay off around 75% of its global staff.
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- August 2 2023
QBE betting on specialty, GBA to drive north Asia growth
The carrier is looking to leverage its global expertise, build regional partnerships and 'supercharge' distribution channels, says region chief Lei Yu.
