News Page 204 / 1059
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- March 22 2024
Tokio Marine secures US$100m Japan EQ capacity with Kizuna Re III cat bond
The Singapore-domiciled bond is the first time a Japanese sponsor has used a World Bank Group Sustainable Development Bond as collateral.
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- March 22 2024
Exclusive: Hyundai Insurance and Korea P&I Club on hook after Keoyoung Sun tanker sinks off Japan coast
A total hull loss is expected for the vessel insured at U$S2.25 million and there is no estimate for the cargo loss yet, industry sources say.
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- March 22 2024
China Taiping Macau’s 2023 COR and outlook remain stable: AM Best
The rating agency affirmed the insurer's financial strength rating of ‘A’ (Excellent) with a stable outlook, citing its strong balance sheet and operating performance.
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- March 22 2024
Ping An P&C reports underwriting loss for 2023 as guarantee business, higher expenses bite
The P&C division of China's largest insurer reported a 6.5% increase in insurance revenue but its COR for the financial year edged up to 100.7%.
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- March 22 2024
Noto earthquake payouts top US$400m: GIAJ
The total number of accepted claims from the January 1 event has increased to 115,211 as of March 8.
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- March 21 2024
Malaysia’s general insurance, takaful funds 2023H2 operating profits up 46%
Higher premium growth in the motor segment and continued improvements in risk-based pricing have bolstered the sector's H2 operating profit. But for full year of 2023, operating profits rose by just 3.2% year-on-year.
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- March 21 2024
China United Property Insurance put on negative rating watch: Fitch
The rating action is due to potential reduction in support from parent China Orient Asset Management and the insurer's weakening capital strength.
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- March 21 2024
Tokio Marine eyes overseas acquisitions with US$10bn war chest: report
The insurer has aspirations to grow its business in the commercial insurance sector in North America, Asia, Europe, Australia as well as the Lloyd's market, co-head of international business Chris Williams told Reuters.
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- March 21 2024
UK P&I Club positioned to benefit from the shipping shift to Asia: CUO
45% of the P&I club’s gross tonnage comes from the region as its local growth outperforms rest of the world.
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- March 21 2024
Bond & Credit Co exec breached underwriting limits in Greensill deals: report
Court documents obtained by the Australian Financial Review showed that Tokio Marine had self-reported the issue to regulators nine months before the financier’s collapse.
