Country: East Asia Page 9 / 203
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- September 12 2024
Captives pivotal to development of Belt & Road green energy projects: HKIA panel
The SAR seeks to be the preferred captive domicile to manage risks from overseas renewable energy projects, participants at a Belt & Road summit moderated by the city's Insurance Authority heard.
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- September 10 2024
South Korean motor insurance net profit falls 40.2% as accidents rise
The number of accidents rose 3.4% to 1.84 million, as the segment's COR worsened by 2.4 percentage points to 96.6%, preliminary data from the Financial Supervisory Service shows.
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- September 9 2024
Axa XL Hong Kong names Chloe Wang as underwriter for international financial lines
Wang has worked for Berkley Insurance Asia and Hawkes Bay Underwriting in Hong Kong before joining the specialty (re)insurer.
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- September 9 2024
HKIA to prioritise RBC review and re-domiciliation regime, says chairman
The Hong Kong Insurance Authority is aiming to attract insurers and brokers to place larger business volumes in Hong Kong, as it seeks to attract more overseas insurance groups to relocate their headquarters to the city, says chair Stephen Yiu.
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- September 9 2024
DB Insurance to benefit from strong internal capital generation: AM Best
The rating agency has affirmed the Korean non-life insurer's “A+” (superior) financial strength rating and "stable" outlook.
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- September 6 2024
Typhoon Yagi wreaks havoc in Vietnam, China losses top US$100m
The storm has been downgraded to a tropical depression but the Vietnamese meteorological bureau has cautioned about ongoing risks of landslides and flooding as it continued to move westwards.
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- September 6 2024
Cathay Century’s capitalisation to benefit from retained earnings growth: AM Best
AM Best affirms the financial strength rating of "A" (Excellent) and the long-term issuer credit rating of “a” (Excellent) on Taiwan's second-largest non-life insurer with a stable outlook.
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- September 6 2024
APAC reinsurance composite’s 2023 COR improves to 91.6%: AM Best
Regional reinsurers saw revenue rise 8.8%, with much of the growth fuelled by China Re and its subsidiary Chaucer.
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- September 6 2024
Japanese P&C carriers 2023 underwriting profit rises 55% to US$1.2bn
Net premium income rose to US$63.3bn as net claims paid dropped by US$370m during the financial year, according to Toa Re's 2024 annual report citing results of 29 members of the General Insurance Association of Japan.
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- September 6 2024
Super typhoon Yagi set to bear down on southern China, Vietnam
The most intense tropical cyclone in decades in the South China Sea is expected to have severe impact in Hainan, southern China and northern Vietnam.
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- September 2 2024
Aon appoints Oliver Miloschewsky as head of shipping for Asia
Hong Kong-based Miloschewsky, who joins from MGA Nexus Underwriting, will report to Stephen Rudman, head of marine, Asia
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- September 2 2024
Korean carriers report H1 2024 12.2% net income increase to US$4.3bn
Non-life premium income for the first half of 2024 increased 4.3% from a year ago to US$45.7bn, according to the Financial Supervisory Service data.
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- September 2 2024
Fubon Insurance returns to net profit, COR improves to 86.2% in H1 2024
The Taiwanese market leader's combined ratio dropped 37.2 percentage points from 123.4% a year ago as claims paid for the period more than halved.
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- September 2 2024
Aon hires Munich Re veteran as senior shipping specialist, Japan
In his new role, Hide Akagi will take on the role of business development for the shipping team in Tokyo and report to Stephen Rudman, head of marine for Asia.
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- September 2 2024
Typhoon Shanshan set to trigger significant BI, property losses, weigh on reinsurance market
While the impact on reinsurance is unclear now, repeated or severe cat events in the area in the future may prompt reinsurers to reduce their underwriting commitments or increase premiums.
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- September 2 2024
Toa Re America’s underwriting performance pressured by social inflation: AM Best
AM Best affirmed its "A" (excellent) financial strength rating and a stable outlook for Toa Re and its subsidiaries, including Toa Re's US subsidiary.
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- September 2 2024
Hong Kong H1 2024 P&C underwriting profit climbs 34% to US$250m
The improvement came despite net claims incurred during the period rose 9.3% year-on-year, as growth in overall premiums and smaller losses recorded in third-party motor insurance helped the sector's results, provisional data from the HKIA shows.
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- August 31 2024
China Re H1 2024 insurance revenue of domestic P&C reinsurance up 17.5% to US$3.3bn
Overseas P&C reinsurance and Chaucer and P&C insurance divisions grew 10.2% and 2.6% year-on-year, respectively.
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- August 30 2024
Aon’s White Rock sues China Construction Bank over Vesttoo fraud, claims US$140m
The lawsuit is another step to maximise recoveries for clients impacted by the Vesttoo fraud and make the bank accountable for the harm it has caused, Aon spokesperson told IAN.
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- August 30 2024
China Pacific’s P&C underwriting profit jumps 47.6% to US$380m, COR improves to 97.1%
The company delivered primary insurance premiums at US$15.7bn in the first six months, a 7.8% growth year-on-year.
