Country: Macau Page 2 / 5
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- September 4 2023
Typhoon Saola triggers claims across Hong Kong, Macau, China and the Philippines as Haikiu hits Taiwan
The storm to bring loss accumulation of tens of millions of dollars from flooding, crop damage, car and yacht write-offs, flight disruptions, fallen solar panels and trees.
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- September 1 2023
AM Best affirms Macau Insurance’s rating despite a 5% increase in COR
The rating agency has affirmed a rating of A- (excellent) with a stable outlook to the third-largest Macanese insurer on account of its very strong balance sheet.
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- August 31 2023
Hong Kong, Guangdong and Macau prepare as Super Typhoon Saola nears; Typhoon Haikui tracks China landfall
Saola, potentially the SAR's strongest storm in five years, to bring strong winds and heavy rainfall as another typhoon heads towards Taiwan and eastern China.
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- August 25 2023
China Taiping’s P&C H1 domestic profit falls 68%; Taiping Re’s COR increases to 105.8%
The group's overseas P&C insurance business, which has units in Hong Kong, Macau, Indonesia and Singapore, saw net profit climb 10%.
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- August 22 2023
Aon confirms Qin Lu to lead mainland China, Hong Kong, Macau and Taiwan
Lu is overseeing risk and human capital and reinsurance, and will work with the broker's Greater China team which Aon describes as a 'sub-region' in APAC.
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- August 9 2023
Hong Kong northbound GBA motor scheme to help spur P&C innovation
With 16 insurers already writing cross-border policies, the Greater Bay Area should create specialty and reinsurance opportunities despite a complex framework.
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- August 2 2023
QBE betting on specialty, GBA to drive north Asia growth
The carrier is looking to leverage its global expertise, build regional partnerships and 'supercharge' distribution channels, says region chief Lei Yu.
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- July 24 2023
Chubb’s Greenberg urges ‘effort to limit bureaucracy’ to help GBA: report
The global CEO said the government has to "take down the financial regulatory borders between Hong Kong and Guangdong".
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- July 14 2023
MSIG paid out US$45m of claims in Hong Kong and Macau in 2022
The figure is a dip from US$48.6m in 2021, but the firm's claims settlement ratio increased to 92.9%.
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- April 19 2023
Lloyd’s eyes regional opportunities through Hong Kong
The platform's regional director Iain Ferguson identified reinsurance capacity, captives and more local placement as areas for the market to focus on.
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- March 24 2023
China Taiping’s Macau P&C arm could see 71% COR ‘normalise’ this year: AM Best
The economy in the gambling mecca is showing signs of recovery from the pandemic with tourists returning.
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- February 28 2023
Hong Kong ends mask mandate from March 1
The SAR is set to host several major events in March, including music festival Clockenflap, Art Basel and the Hong Kong Sevens.
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- December 16 2022
Fidelidade Macau’s COR below 80% as of September 2022
Fitch assigned A- rating with a stable outlook to the Fosun owned carrier.
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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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- October 10 2022
Luen Fung Hang Insurance gets over pandemic impact with 58% COR: AM Best
The Macanese P&C player leveraged its distribution to stay second in the market with a 22.8% share.
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- September 16 2022
Why Fosun’s divestment plan may exclude Peak Re
Non-core divestitures are unlikely to change the controlling interest of core insurance units like the Hong Kong reinsurer and Fosun Insurance Portugal.
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- September 5 2022
Macau Insurance’s top-line to be hit by slowdown and dim gaming prospects
The carrier's GWP was down 10% in 2021 but overall combined ratio remained at a healthy 89%.
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- August 30 2022
China Taiping’s domestic P&C arm sees H1 COR improve to 98.8%
Taiping Re's P&C division fell to an underwriting loss of US$21m.
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- August 5 2022
Crawford hires former McLarens exec as head of loss adjusting, GBA
Jackson Zeng is based in the firm's Guangzhou office.
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- July 26 2022
Digital channels and regulation key to unlocking Greater Bay Area potential: survey
Eight cities in the GBA have less than 10% insurance penetration.
