Country: Japan Page 11 / 41
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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 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 5 2023
Financial lines remain key to BMS Asia growth plans
The broker is focusing on 'building out and strengthening existing offices' in Asia, while seeking to be a 'viable alternative to the large broking houses' in Australia.
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- June 1 2023
Typhoon Mawar threatens Japan after slamming Guam
The storm, which is skirting the Philippines and Taiwan and heading to the Okinawa Islands, is one of the most powerful on record for May.
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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 29 2023
Tokio Marine quits climate alliance
The Japanese insurer said it remains committed to the transition towards a decarbonised society.
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- May 26 2023
Japan, Korean insurers brace for claims from ‘US$1bn’ Typhoon Mawar in Guam
There are 11 international hotels on the island which have BI cover. Crawford is sending 40 adjusters from Asia.
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- May 22 2023
Japan’s big 3 count on overseas recovery as domestic results take nat cat hit
Tokio Marine, MS&AD and Sompo expect a revival in international units to drive FY 2023 performance.
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- May 19 2023
Sompo Japan COR deteriorates to 100.9% in FY 2022
Sompo International improves underwriting profit by 25% over last year despite US$553m of nat cat losses.
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- May 19 2023
MS&AD’s Japan non-life units fall to US$110m underwriting loss
The Tokyo-headquartered giant saw local cat losses increase 104% year-on-year at its two domestic P&C players, while MS Amlin returned an underwriting profit of US$78m.
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- May 19 2023
Tokio Marine books US$760m FY 2022 Covid losses from Taiwan
The group also saw losses of US$570m from two typhoons and a huge hailstorm in Japan, as overall FY 2022 profit climbed 1.7% to US$2.72bn.
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- May 19 2023
Sony to spin off financial services arm housing its insurance businesses: report
Sony Financial Holdings, to be listed on the Tokyo Stock Exchange, owns the P&C business Sony Assurance and life carrier Sony Life.
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- May 17 2023
Tokio Marine withdraws from select Pacific markets: report
The insurer exits Guam and the Northern Mariana Islands as margins deteriorated in 2022 as medical claims rebounded.
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- May 12 2023
Fortitude Re opens representative office in Tokyo
The global reinsurer has appointed Hajime Kawafuji, who joins from the company's private equity owner Carlyle, as Japan chief representative.
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- May 2 2023
Pressure mounts on Japan to provide long-term solution for marine risks
While the dispensation for insuring imports from Russia's Sakhalin project remains in place, the future remains uncertain.
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- April 28 2023
Mitsui Sumitomo facing lunar loss after ispace mission failure
The Japanese carrier provided the world’s first 'lunar insurance' cover for the risks arising from the mission.
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- April 26 2023
Sompo to focus on integrating domestic and oveseas businesses: report
The Japanese group does not see the need for further acquisitions, says COO Mikio Okumura.
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- April 26 2023
Gallagher targets South Korea and Taiwan after Japan foray
Following the announcement of a corporate broking and fac operation with 15 people in Tokyo and senior regional hires, IAN understands the broker is close to launching in Korea.
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- April 21 2023
MS&AD plans to enter Japan’s small amount, short term insurance market
The insurance giant wants to establish a company in FY 2024 to enter the new market, also known as mini-insurance.
