Country: East Asia Page 70 / 221
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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.
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- December 7 2022
Korean Re’s partial coal exit faces backlash
The reinsurer told IAN that it 'acknowledges the declaration may fall short' but 'will make the best efforts to improve decarbonisation policies and achieve net-zero by 2050'.
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- December 6 2022
China non-life carriers to see steady premium growth, sound solvency buffer: Fitch
Non-motor to be the growth driver due to regulatory initiatives and low market penetration.
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- December 6 2022
HKIA’s roadmap to help build regional connectivity and mobilise private capital
Tech, talent and data are the enablers of sector growth, according to Hong Kong's secretary for financial services and treasury.
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- December 6 2022
Hong Kong’s John Lee unveils insurance roadmap, hails ‘promising start’ for ILS
Chief executive wants market to share product ideas, as the financial secretary targets 'free flow of information, capital and talent' in the GBA.
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- December 5 2022
Meritz Fire & Marine’s loss ratio outperformed domestic peers: AM Best
The rating agency upgraded Korea’s fifth largest non-life carrier's rating to A on its strong profitability.
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- December 5 2022
Hotai Insurance downgraded by AM Best over ‘significant’ pandemic claims
The Taiwanese general insurer has been rated at B++ as Covid-19 claims wiped off US$853m capital injection by parent Hotai Motor.
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- December 5 2022
Nan Shan General to see through Covid claims damage: AM Best
The Taiwanese P&C carrier had reported a net loss of US$426m primarily due to pandemic claims
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- December 2 2022
West of England names new head underwriters in Singapore and HK
Senior underwriters David Griffiths will take charge in the Lion City and Xuanlun Cai in the SAR.
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- December 2 2022
Insurers keen to experiment with metaverse despite scepticism
Industry leaders at the Pacific Insurance Conference agree that while the opportunity looks big, it requires further investments for wider adoption.
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- December 2 2022
Japan’s insurers to improve profitability from domestic underwriting in 2023: Fitch
All three major non-life groups’ net insured losses from local nat cats more than tripled in H1 2022/3.
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- December 1 2022
Generali’s Rob Leonardi eyes leading market position in Malaysia
As the insurer triples its regional P&C revenue, it is also in advanced talks to find new Indian JV partners.
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- November 30 2022
SMBC Aviation starts litigation against 11 insurers over jets in Russia
The Japanese lessor, which had recognised a US$1.6bn impairment this year, has filed a suit in the Irish High Court seeking claims for its 34 planes.
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- November 30 2022
Tokio Marine-backed ICEYE in Asia nat cat data push
The Finnish satellite tech provider, which offers disaster claims management services, is looking to expand beyond Australia and Japan.
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- November 29 2022
Korea’s Construction Guarantee Insurer’s outlook stable over strong capital: Fitch
The carrier's A rating with stable outlook was affirmed due to its ‘very strong’ capitalisation backed by state support.
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- November 25 2022
Motor profitability to drive China P&C, outlook revised to stable: Moody’s
Premium growth will remain solid over the next 12-18 months.
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- November 25 2022
Opinion: Can carriers take advantage of the Hong Kong crypto opportunity?
As insurers rush to amend policy wording and reinforce crypto exclusions, the city’s regulatory initiatives offer hope.
