Country: Global Page 8 / 40
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- August 7 2023
MGA Circles rings changes in Asia as Tommy Elliot takes on global CUO role
Khadinn Khan becomes responsible officer role for Hong Kong, while Kenneth Tan will oversee the specialty MGA's Singapore office.
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- August 4 2023
Swiss Re P&C Re posts 94.7% COR for H1
Swiss Re P&C Re's global net profit surged to US$904m in the first six months of 2023, helped by fewer cat losses in Q2. July 1 renewals saw prices increase 21%.
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- August 2 2023
Scandal-hit Vesttoo to close Asian offices: report
The insurtech will close its Tokyo, Hong Kong and Seoul offices, and lay off around 75% of its global staff.
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- July 28 2023
Japan P&I Club on hook after large fire on ship with US$100m of cargo
The Japanese-owned vessel is near a World Heritage site and was carrying over 2,800 vehicles, including 498 electric cars.
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- July 20 2023
China Construction Bank at centre of Vesttoo US$4bn reinsurance collateral fraud: report
Forged letters of credit issued by the Chinese lender is revealed to have been used by investors for ILS transactions on the insurtech platform.
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- July 20 2023
Update: Insurers take ‘wait-and-see’ approach to Russia’s Black Sea threat
As the situation escalates with Russia targeting port facilities and destroying grains and the US warning that Moscow may have mined the sea corridor, there is uncertainty if terms can be held for non-Russia, Ukraine, Belarus ports.
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- July 12 2023
Axa mulling sale of reinsurance arm: report
The French insurer is considering a sale or an IPO for Axa XL Reinsurance as the group looks to reduce earnings volatility, according to Reuters.
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- July 7 2023
Generali acquires US asset manager Conning from Cathay Life
The Taiwanese insurer will hold a 16.75% stake in the Italian carrier's asset management business after the deal.
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- July 5 2023
Property rate increases moderated at mid-year renewals: Guy Carpenter
Global cat reinsurance risk-adjusted rate increases ranged from 10% to 50%, with loss-impacted clients often seeing higher pricing.
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- July 5 2023
Net-zero alliance to make membership rules less prescriptive: report
The UN-led insurers' climate coalition is proposing to remove a six-month deadline for members to publish greenhouse gas emissions targets.
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- June 21 2023
Fusion Specialty promotes Katherine Simmonds to CEO for international markets
In her new role, Simmonds will be responsible for further developing Fusion’s presence in the UK, APAC and EMEA regions, including M&A, financial lines and other specialist insurance products.
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- June 20 2023
IAG exits Net-Zero Insurance Alliance
The Australian giant, which joins a host of global (re)insurers in leaving the UN climate group, has told IAN that it is committed to reaching net-zero by 2050.
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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
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 8 2023
Looming El Niño raises risk of secondary perils across APAC
Carriers look to innovate as countries across the region fear dry conditions, drought, forest fires and flash floods with (re)insurers on high alert.
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- June 5 2023
Everest Insurance hires Glen Browne as head of international corporate strategy
Singapore-based Browne previously had a senior regional role for Chubb's personal lines business.
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- June 1 2023
Opinion: Florida’s return to orderly renewals a welcome sign for APAC
Prospects of 30-40% rate hikes tempt reinsurers back to a normalised attitude towards the assumption of nat cat risk as 1.6 draws to a close.
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- May 30 2023
MS&AD leaves Net-Zero Insurance Alliance
The insurance group is the last of Japan's big three to exit the climate group, following Tokio Marine and Sompo's exits in the last few days.
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- May 30 2023
Asian carriers join net-zero exodus
With Japan’s big three calling it time, IAG, Samsung F&M and KB are the only APAC carriers left in the alliance.
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- May 29 2023
Tokio Marine quits climate alliance
The Japanese insurer said it remains committed to the transition towards a decarbonised society.
