News Page 135 / 911
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- August 28 2023
Indian government reneges on capital support to state-owned general insurers: report
The government last year provided US$600m in capital to National Insurance, Oriental Insurance and United India Insurance to meet regulatory solvency norms.
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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 28 2023
China Pacific’s P&C H1 COR climbs to 97.9% as underwriting profit falls 12% to US$252m
The general insurer's liability line of business grew 35% and agricultural premiums saw a 34% year-on-year increase.
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- August 28 2023
Sunshine P&C’s H1 COR improves to 98.2%; boosts liability and cargo GWP
The HK-listed and Beijing-headquartered insurer reduced guarantee insurance premiums by 45%, while liability premiums increased 41% and cargo by 215%.
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- August 25 2023
Tokio Marine China’s premium growth could be under pressure from tightening reinsurance rules: Moody’s
The rating agency has affirmed A2 rating with a stable outlook for the subsidiary of the Japanese insurer.
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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 25 2023
Alex Todd joins Zurich as APAC head of short-tail lines
Singapore-based Todd was most recently Asia head of property at Chubb.
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- August 25 2023
ASIC doubles down on pricing scrutiny with a new civil penal proceeding against IAG
The regulator alleges in a court filing that the insurer, which was fined US$26.5m in June for pricing misconduct, pumped up prices before applying loyalty discounts for customers renewing their home insurance policies.
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- August 25 2023
IRDAI approves reinsurance regulation amendments
The minimum capital requirement for foreign reinsurance branches has been halved to US$6m, with the provision to repatriate any excess assigned capital.
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- August 25 2023
Opinion: ‘Smart urbanisation’ is a ticking time bomb for APAC (re)insurers
Carriers are scrambling to manage high property value and cyber risks related to the growth of the digital economy and infrastructure across major APAC conglomerations.
