Country: East Asia Page 63 / 215
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- December 28 2022
Chinese broker Fanhua withdraws going-private proposal
The company's broker's founder Yinan Hu had offered to privatise the company in 2021 for US$9.8 per American depository share.
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- December 28 2022
Japan’s big three told to continue marine cover in Russia: report
Insurers' plans to exit the business announced last week could affect the country's energy imports of Sakhalin-2 liquefied natural gas, which accounts for 9% of its imports.
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- December 28 2022
Korea’s DB Group reshuffles insurance leadership
The chaebol names Kim Jeong-nam as vice chairman and Jeong Jong-pyo as the chief executive of the insurance arm following a group restructuring.
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- December 22 2022
Korean P&C carriers to improve profitability: S&P Global
Insurers have limited catastrophe exposure, and this comes with effective reinsurance protection.
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- December 21 2022
Electric carmaker Nio ramps up brokerage arm with Huiding acquisition
The firm joins peers Byd and Li Auto in expanding their broking arms with China's EV premiums expected to double to US$10bn in 2022.
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- December 20 2022
Typhoon Nanmadol losses up at US$906m: Perils
The estimates, which cover property losses excluding motor and transport-related damages, are much lower than first expected.
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- December 19 2022
Qianhai Re on track to sustained profitability, capital efficiency: AM Best
The rating agency affirmed the reinsurer’s financial strength rating of A- (excellent) with a stable outlook.
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- December 16 2022
Fidelidade Macau’s COR below 80% as of September 2022
Fitch assigned A- rating with a stable outlook to the Fosun owned carrier.
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- December 15 2022
China’s Dinghe Insurance to maintain strong capital and underwriting performance: Moody’s
Despite CSG's stake in Dinghe Insurance reducing to 65%, the agency expects the shareholder to continue supporting Shenzhen-based property insurer.
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- December 15 2022
Allianz Trade’s Maxim Ryzhkov handed China CEO role
The trade insurance specialist's former Nordic commercial director will relocate to Shanghai and start in the new role in January.
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- December 13 2022
China’s easing Covid norms to help non-life underwriting performance: AM Best
Non-life insurers in China posted a healthy 20% earnings growth this year till September.
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- December 13 2022
Hong Kong relaxes Covid travel curbs
The new rules, which will give visitors and travelers greater freedoms, start on Wednesday, December 14.
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- December 12 2022
China Taiping Hong Kong’s underwriting margins remain thin: AM Best
The P&C carrier’s combined ratio remained above 100% despite improvements in performance.
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- December 12 2022
Sunshine’s muted HKEX debut misses out on China’s Covid pivot
Despite a lukewarm reception, the US$824m raise could bolster the group's expansion into southern China and Hong Kong.
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- December 12 2022
Korean Re to reduce overseas property cat exposure
The South Korean reinsurer hit by Covid claims and nat cats will expand casualty and specialty lines, according to AM Best.
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- December 9 2022
SiriusPoint hires Rob Gibbs to lead international business
The former RSA UK managing director will be based in London and will replace Monica Cramér Manhem, who is set to retire.
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- December 9 2022
CBIRC to start on-site inspections and tighten oversight of fund use by insurers
Average solvency ratio of property insurance companies and reinsurance were adequate at 238.9% and 309.1%, respectively, according to the regulator.
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- December 8 2022
Zking P&C’s outlook stable on state support and improved underwriting results: Fitch
Zking reported a combined ratio of 96% for the nine months that ended September 2022.
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- December 8 2022
Chubb acquisition positive for Huatai P&C: Fitch
Chubb has been handed regulatory approval to acquire 83.2% of the business.
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- December 7 2022
Korea’s new capital standard to kick in from next year: report
The new capital regime, together with IFRS 17, is likely to squeeze insurers' capital buffers.
