Country: East Asia Page 71 / 215
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- August 31 2022
Insurers still see Hong Kong as China gateway
The city remains an attractive base for insurers from the mainland and those looking to access it.
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- August 30 2022
Moody’s downgrades Peak Re; changes outlook to negative
The rating action is a result of contagion risks to the carrier from parent Fosun's weakened credit profile.
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- August 30 2022
AIA’s Bonnie Tse takes charge as Blue Cross CEO
The appointment follows the completion of the carrier's acquisition of Blue Cross and Blue Care.
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- August 30 2022
China Taiping’s domestic P&C arm sees H1 COR improve to 98.8%
Taiping Re's P&C division fell to an underwriting loss of US$21m.
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- August 29 2022
CPIC P&C combined ratio improves to 97.2% in H1 2022
P&C GWP saw a 12.3% increase driven by agriculture and health businesses.
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- August 27 2022
Five major Chinese (re)insurers likely to be hit by drought: source
IAN understands that PICC, China Insurance (CIC), China Life P&C, CPIC and China Agricultural Re all face claims.
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- August 25 2022
Former regulator to lead Crawford’s Japan cyber team
Norikatsu Suzuki, who was a deputy director at Financial Services Agency, will help expand services in Asia.
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- August 25 2022
AM Best revises Covid-hit Taiwan non-life sector outlook to negative
Gross pandemic policy claims of US$2bn over the last six months have left carriers struggling to pay out.
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- August 25 2022
Tencent takes 32% stake in Samsung P&C China
The tech company becomes the second largest shareholder after CBIRC approved the insurer's plan to more than double its registered capital.
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- August 24 2022
PSC agrees US$5.4m Hong Kong broker deal; posts 30% EBITDA growth
Underlying revenue in FY 2022 grew 22.8% to US$175.4m including 13% of organic growth.
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- August 24 2022
Japan infrastructure spending set to spur property GWP growth
The country's general insurance market set to reach US$133bn in 2026, GlobalData forecasts.
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- August 23 2022
Ping An’s H1 P&C combined ratio deteriorates to 97.3%
The operating profit for the segment fell 22.3% to US$1.2bn.
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- August 23 2022
Korea’s new standards regime and IFRS 17 to squeeze insurers’ capital buffers: Fitch
K-ICS will not materially change the underlying risk structure and will have limited rating impact.
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- August 22 2022
AM Best downgrades Korea P&I Club due to large claims
The Club is exposed to high severity losses or increased claims frequency over the medium term.
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- August 22 2022
‘We don’t eat more than we can stomach’: Peak Re’s Franz Josef Hahn
The reinsurer is retaining reserves into this year and has ‘solid retrocession protection’ to tide over rising nat cat losses.
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- August 19 2022
ADB signs US$1bn capacity deal with Tokio Marine, Chubb, Liberty, Allianz and Axa XL
The three-year agreement transfers credit risk from the bank's portfolio to the insurers’ balance sheets.
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- August 19 2022
China non-life market on road to recovery but margin pressures remain: Fitch
Nat cat events are likely to test underwriting returns in the second half of the year.
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- August 17 2022
Mapfre Re gets CBIRC approval to open Beijing branch
Ignacio Arteche is the general manager of the new branch of the Spanish reinsurer.
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- August 17 2022
Beazley bullish on Asia specialty lines
APAC head Lucien Mounier says the (re)insurer is targeting growth in life sciences, product recall, M&A, financial lines and cyber.
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- August 16 2022
QBE Hong Kong appoints Andex Fung as head of retail, SME underwriting
Former AGCS underwriter will liaise with brokers, agents and strategic partners.
