Country: Taiwan Page 3 / 13
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- September 11 2023
Hannover Re expects APAC rates to harden further in 2024 after 1.4, 1.6 and 1.7 uplift
The reinsurer expects insurers to raise retentions for nat cats to counter increased costs, as it secured better prices and conditions, especially for non-proportional treaties.
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- September 11 2023
Hong Kong to see most claims since 2018 typhoon after record rainfall; Shenzhen also hit
Rates to harden as insurers count costs of BI claims, damage to vehicles, flats, roads, hotels, shopping malls and metro stations caused by flooding, according to market experts.
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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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- 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 28 2023
Typhoon Saola causes flooding in the Philippines, threatens Taiwan, China and Hong Kong
The storm, also known as Goring, will exit the Philippine Area of Responsibility on Thursday and cross the Taiwan Strait before nearing southern China with a landfall area currently uncertain.
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- August 23 2023
Political violence market on guard over Taiwan tensions
While some carriers are excluding Taiwan completely, most have been sub-limiting exposure to US$10–25m in the aggregate.
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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 18 2023
Chung Kuo earnings to be hit by impairment losses from reinsurance recoverables: Moody’s
The rating agency affirmed the Taiwanese insurer's rating at A3 with a negative outlook.
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- August 11 2023
Central Re will restore its non-life underwriting profitability after Covid hit: AM Best
AM Best has affirmed the Taiwanese reinsurer with a rating of “a” with a stable outlook.
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- August 4 2023
Taiwan insurers face high capital pressure despite eased rules: Fitch
Certain new amendments under the new solvency framework will also ease the burden on local insurers.
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- August 3 2023
Mixed picture for Asia’s P&C markets in Q2 as overall composite pricing flattens: Marsh
Hong Kong led the way in overall composite rate reductions at minus 6.6% and Taiwan climbed the highest at plus 24%.
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- August 1 2023
Axa XL bolsters north Asia marine team with two senior promotions
Shirley Kwok has been promoted to head of marine cargo, North Asia, with Gary Tin elevated to senior underwriter.
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- August 1 2023
China, Philippines and Taiwan count US$150m-plus Typhoon Doksuri damage, prepare for Khanun
Beijing is facing a historic rain event after storm damaged crops, roads, bridges, and houses and triggered landslides, with yet another typhoon threatening the region.
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- July 27 2023
CTBC Insurance announces US$95m capital reduction plan
The proposal is to offset losses following claims from Covid policies sold last year and the capital reduction will have no impact on its capital adequacy and net worth ratios.
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- July 26 2023
Large loss expected from stricken ship and containers off Taiwan coast as typhoon looms
A Palau-flagged container ship has sunk possibly triggering environmental and long-term liability claims, as the Philippines, Taiwan, China and Hong Kong prepare for huge storm.
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- July 24 2023
Philippines, Hong Kong, China and Taiwan brace for typhoon
The slow-moving storm is picking up strength as it approaches north-eastern Philippines with the government issuing strong wind and rain warnings in Luzon.
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- June 22 2023
Tokio Marine Newa Insurance raises fresh capital after FSC warning
Taiwan's regulator had ordered the insurer to bring in more capital by the end of June or it would be taken over.
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- June 13 2023
Fubon hamstrung by US$620m reinsurance recoveries for Covid claims
Hannover Re is among the reinsurers with the most exposure and a resolution could be months away, IAN understands.
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- June 2 2023
Union Insurance to sustain growth, solvency ratio despite Covid losses: AM Best
The rating agency has affirmed an insurer rating of A- (excellent) with a stable outlook for the Taiwanese carrier.
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- May 22 2023
Fubon Insurance reports US$140m loss for Q1 2023
The Taiwanese P&C player says it has raised US$523m and that its current capital position exceeds legal regulatory requirements.
