News Page 173 / 1058
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- May 29 2024
GIC Re’s FY 2024 underwriting losses near US$500m
The India state-owned reinsurer’s COR deteriorated to 111.82% for FY 2024, while GWP for the period grew marginally to US$4.5bn.
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- May 29 2024
Geographic diversification will support Japan P&C insurers’ profitability: Moody’s
- Japan
- Aioi Nissay Dowa Insurance
- Mitsui Sumitomo Insurance
- MS&AD
- Sompo
- Tokio Marine
- Tokio Marine & Nichido Fire
While the sector's outlook is stable, the insurers' overseas premium growth would slow in the next 12-18 months, the rating agency said.
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- May 29 2024
APRA proposes US$22m in levies funding for Australia’s general insurance sector
The total operational costs of the regulators to be recovered from the general insurance sector in FY 2024 is 10.8% higher than the previous financial year, the Treasury said in a discussion paper.
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- May 29 2024
Axa XL ropes in Zurich’s Julie Morgan as Australia head of claims
Sydney-based Morgan will have oversight of all claims activity across all lines of business for Australia.
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- May 29 2024
IAG slapped with class action suit over ‘loyalty tax’ on home insurance renewals
IAG says it intends to defend the proceedings commenced by class action specialist law firm Slater and Gordon against its subsidiaries IAL and IMA.
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- May 29 2024
Great Eastern’s minority shareholders demand better offer from OCBC: report
The take-private offer is priced at a 30% discount to the Singaporean insurer's embedded value, a metric often used to value insurance firms elsewhere, shareholders say.
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- May 29 2024
AM Best upgrades Philippine non-life market outlook to stable
The market experienced double-digit increases in the casualty, health and accident lines of business in 2023 with GWP growing 13% year-on-year.
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- May 29 2024
Tower swings back to profit in H1 2024 on absence of large nat cat
The Kiwi insurer's reported net profit after-tax totalled US$22.2m, reversing the US$3.1m net loss a year ago.
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- May 28 2024
Australia’s Rivers Insurance Brokers expands to Victoria with IOOF acquisition
The combined business will operate under the Rivers Insurance Brokers' brand.
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- May 28 2024
Equal chance of neutral ENSO conditions and La Niña: BOM
The Australian weather agency has maintained La Niña watch as there are some early signs that an event might occur in the Pacific Ocean later this year.
