Country: East Asia Page 72 / 234
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- June 20 2023
Hong Kong’s export credit insurer launches mainland pilot with five banks
HKECIC has teamed up with Bank of China, BEA, HSBC, Hang Seng and DBS, and the credit limit for each buyer's non-payment risks is capped at US$12.8m.
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- June 19 2023
DB Insurance acquires Vietnamese carrier Saigon-Hanoi
The acquisition is the Korean insurer's second deal in Vietnam in 2023, following the Vietnam National Aviation Insurance buy in February.
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- June 19 2023
FWD General Insurance to exit group medical in 2024, tail off employee compensation: Fitch
The rating agency has affirmed the Hong Kong carrier's rating at 'BBB+' (good) while its outlook has been revised to stable from positive.
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- June 16 2023
Taikang-backed Tk.cn scripts underwriting turnaround with COR improving 29 points to 92%
Fitch has affirmed the Chinese digital non-life insurer's rating at A- with a stable outlook.
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- June 16 2023
Axa XL Re’s Japan CEO to step down
Takashi Oka will leave the global specialty (re)insurer on July 1 after seven years in the role.
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- June 15 2023
Lloyd’s to reverse losses this year, affirms AA- rating, including for China: Fitch
Fitch expects Lloyd’s to maintain its improved global underwriting results in 2023-4 as pricing conditions remain 'favourable', although volatility will remain.
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- June 13 2023
Fubon hamstrung by US$620m reinsurance recoveries for Covid claims
Hannover Re is among the reinsurers with the most exposure and a resolution could be months away, IAN understands.
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- June 13 2023
Seoul Guarantee Insurance to file for IPO this month: report
The state-owned carrier, which is expanding overseas with reinsurance tie-ups with Allianz Trade and Coface, is eyeing a listing later this year as its biggest shareholder plans to exit.
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- June 12 2023
China hailstorm losses reach US$28m: report
Extreme weather events continue in the country with cumulative rainfall in the southern city of Beihai city reaching a record-breaking level.
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- June 12 2023
Aioi Nissay Dowa Insurance’s COR to stay in mid-90s: AM Best
AM Best has affirmed the insurer rating of A+ (superior) to ADI along with an A- (excellent) to its Chinese affiliate.
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- June 12 2023
Mitsui Sumitomo’s ratings affirmed by AM Best as overseas operations see recovery
The agency confirms A+ (superior) rating for MSI and its affiliates as it is expected to maintain strong underwriting performance over the intermediate term
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- June 12 2023
Mitsubishi D&O cover in the spotlight as lawsuit looms against securities arm
The fallout of Credit Suisse's demise will have wider repercussions as the cover placed locally would have been facultatively reinsured in the international markets.
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- June 9 2023
Guy Carpenter eyes growing APAC MGA sector with Steve Warwick
The broker's APAC CEO Tony Gallagher says the regional program market has seen tremendous growth in recent years.
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- June 9 2023
Hyundai Marine to benefit from transition to IFRS 17: AM Best
The carrier was facing 'considerable pressure' on its capital position in FY 2022 due to valuation losses, which can now be reduced.
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- June 9 2023
China targets global cedents with Shanghai reinsurance hub
The international board, launched on June 8, rolls out incentives for international (re)insurers to tap the country's capital.
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- June 7 2023
Asian carriers on the hook from ‘hundreds of millions’ of Guam typhoon claims
Tokio Marine, MS&AD, DB and Chung Kuo among hit as Typhoon Mawar caused extensive property damage, but high deductibles could help keep losses down.
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- June 6 2023
Jerald Leung joins The Hartford as financial lines senior underwriter
Hong Kong-based Leung joins specialty arm Navigators from Starr Insurance, and will report to Ethan Tay, APAC head of financial lines.
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- June 6 2023
Target Insurance to raise US$680m through its UAE arm Himalayas Insurance
The owner of the liquidated Hong Kong taxi insurer is eyeing a resumption of business with its new Middle Eastern venture.
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- June 6 2023
Despite the buzz, Korean insurance M&A slow to take off
A consolidated market, low valuations and lack of sizeable targets make dealmaking hard in the north Asian country.
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- June 5 2023
Axa XL ropes in Evelyn Pang as global program and captive manager for Asia
Hong Kong-based Pang, who joins from Berkley Insurance Asia, will report to the (re)insurer's HK CEO Jamie Chambers.
