News Page 190 / 1047
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- March 26 2024
Sunshine P&C’s FY 2023 COR improves to 98.7%, underwriting profit goes up 142.4%
While the group's P&C insurance revenue for the year increased 10.2% to CNY45.5bn (US$6.3bn), primarily due to non-motor business growth, net profit for the 12 month-period went down 36.1% to CNY978m, affected by a 49.5% decrease in investment income due to adoption of new accounting standard and volatile capital market.
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- March 26 2024
Korea unveils US$190m trade insurance fund to promote exports
The fund will “drastically improve the terms regarding recipient eligibility" and benefit a wide range of sectors ranging from shipbuilding, petrochem to K-pop.
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- March 26 2024
Allianz Trade elevates James Lie as regional head of e-commerce
The appointment of Singapore-based Lie, who was previously the country manager for Indonesia, underlines the insurer's effort in tapping into the region’s fast-growing e-commerce credit insurance market.
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- March 26 2024
Opinion: AI will tip the balance – the question is, when?
While algorithms are great at working with tried and tested data and assumptions, conceptualising scenarios outside the given parameters is not within their capabilities and an underwriter’s assessment is still needed.
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- March 26 2024
China Taiping posts strong 2023 overseas P&C profit growth as domestic business sags
The (re)insurer saw its China P&C insurance's operating profit plunge 71%, contrasting the 87% growth for its overseas business including Hong Kong.
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- March 25 2024
Guy Carpenter appoints new Pacific CEO in regional leadership shake-up
The reinsurance broker has hired Ben Savill as Pacific chief executive and promoted Jeff Saper and Luc Morement as APAC head of fac and regional sales leader, respectively.
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- March 25 2024
Huatai P&C Insurance’s underwriting performance set to improve on Chubb’s support: Fitch
Fitch Ratings has upgraded Huatai P&C’s rating to 'A+' (strong) from 'A' following Chubb's move to raise its stake in its holding company, Huatai Insurance, to 85.5% in February.
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- March 25 2024
IRDAI regulatory revamp ushers in new insurance e-commerce platform
Indian insurance regulator consolidates 34 regulations into six as it introduces two new rules to enhance “clarity and coherence”. One notable addition is a digital public infrastructure to connect all industry stakeholders.
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- March 25 2024
Insurance Council of New Zealand widens complaints reporting to boost transparency
Customers should expect their insurers to maintain high standards and have in place robust processes, backed by external oversight, for handling complaints, ICNZ chief executive said.
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- March 25 2024
Sedgwick names Crawford’s Erwin Yu to lead Malaysia TPA operations
In his new role, Yu will lead the local operations performance and oversee third-party administration, focusing on claims management and operational initiatives.
