Country: East Asia Page 74 / 224
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- November 21 2022
China Re ratings upgraded on higher underwriting margins, overseas recovery
AM Best revised the Chinese state-owned carrier’s rating to a+ (excellent) from a with a stable outlook.
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- November 21 2022
Japan’s big three post massive H1 underwriting losses on nat cats, Covid-19
While Sompo Holdings and MS&AD Insurance Group posted net losses for their first six months of the fiscal year, Tokio Marine saw a 70% fall in profits.
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- November 20 2022
Chubb gets regulatory nod to raise Huatai stake to 83.2%
The China Banking and Insurance Regulatory Commission approved the purchase of an additional 35.9% stake in the Chinese insurance group.
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- November 19 2022
CDB Aviation files lawsuit against 18 insurers over jets stranded in Russia: report
The China Development Bank-owned aircraft leasing company suit in Dublin names Lloyd's, Chubb, Swiss Re, Munich Re, among others.
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- November 18 2022
Tokio Marine announces US$357m share buyback plan
The Japanese giant will repurchase 25m shares from November 21 through March 24, 2023 'to implement flexible financial policies'.
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- November 18 2022
Water-related losses highest in Asia, more stress likely, warns WMO
In Asia, the highest adaptation cost is estimated for China at US$189bn, followed by India at US$46bn.
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- November 17 2022
Ex-Aon Securities MD Shinji Yamamoto launches ILS boutique
He was head of capital markets and ILS divisions in Asia for the global broker, based in Japan.
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- November 16 2022
Korean property insurers raided over price rigging: report
The seven property insurers, including Samsung Fire & Marine and KB Insurance, were fined by the Fair Trade Commission in April.
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- November 16 2022
Paul Li rejoins QBE Asia as head of Macau
Li, who joins from Macau Insurance, was previously the insurer's Hong Kong head of bancassurance.
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- November 16 2022
Currency mismatch piles pressure on Asia underwriting
As the US dollar strengthens, carriers in the region are feeling the heat due to worsening asset-liability positions amid capacity constraints.
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- November 16 2022
Axa commits to South Korea: report
Korea CEO Guillaume Mirabaud said Korea is geographically important as a technical support provider for Axa South-East Asia.
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- November 15 2022
Japan’s P&C ‘Big Three’ chart growth via overseas acquisitions
MS&AD, Tokio Marine & Sompo keen for niche strategic deals while ensuring dividend payouts.
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- November 11 2022
PGA Sompo’s outlook revised to ‘good’: AM Best
The Makati City-headquartered insurer holds a 3% non-life market share in the Philippines.
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- November 11 2022
FTX collapse puts the focus on crypto insurance
Hong Kong could lead the way for much-needed regulation of the digital asset space.
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- November 11 2022
Evergreen captive sees ‘favourable’ net claims: AM Best
AM Best expects that marine underwriting results will continue to be the main driver of its bottom-line.
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- November 10 2022
ZhongAn’s investment income balances ‘marginal’ underwriting result: AM Best
Investments will continue to be the main driver of profits over the medium term.
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- November 10 2022
Tokio Marine opens digital labs in Singapore, Taipei and Tokyo
The Japanese giant is creating a new ecosystem, inspired by its Brazilian app.
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- November 10 2022
China policy push spurs demand for cyber cover
A data privacy law and a new draft cybersecurity insurance framework should help the domestic market.
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- November 9 2022
Adva Underwriting brings on board Joanne Chan for APAC marine cargo foray
Chan, who joins the specialist MGA in Hong Kong, will focus on bringing additional capacity in the region.
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- November 8 2022
PSC confirms trio of acquisitions as Hong Kong revenue climbs to US$4.5m
The group is spending US$14m on Hong Kong's Charter-Union Insurance Brokers, Ensurance UK and Australia's Trade Credit Risk.
