News Page 303 / 1075
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- August 21 2023
DPL Insurance to sustain underwriting profitability: AM Best
Underwriting results improved over the past five years, with COR reducing to 77.4% in FY 2023 from 96% in FY 2019.
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- August 21 2023
Australian carriers paid out US$23bn in claims last year: ICA
In 2022, more than 300,000 disaster-related claims were lodged from four declared insurance events across the country, costing more than US$4.4bn in insured losses.
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- August 18 2023
US insurers have US$1.3bn exposure to China Construction Bank letters of credit: AM Best
The Chinese lender has seen a 1,560% year-on-year increase in reinsurance collateral LOCs issued.
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- August 18 2023
Court upholds MG Non-Life insolvent status, sale process to continue
With the majority shareholder JC Partners losing the case, state-owned KDIC is likely to resume the sale by the end of this month.
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- August 18 2023
AM Best downgrades Pakistan’s EFU following sovering rating downgrade
AM Best has given the general insurer a B- (fair) rating down from B (fair) while its outlook has been revised to negative from stable.
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- August 18 2023
AM Best expects Korea P&I Club’s ‘underwriting fundamentals’ to improve; affirms ratings
After a difficult few years, the Korean carrier has been taking action such as premium increases, the non-renewal of unprofitable policies and enhancing terms.
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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 18 2023
Axa XL’s Ewen McKay to head international financial lines for Australia
Sydney-based McCay was most recently product leader - management liability for the French carrier.
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- August 18 2023
Tamara Gabriel joins Berkley Insurance Australia as senior underwriter
She has joined the specialty player's facilities team from Tokio Marine & Nichido Fire Insurance.
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- August 18 2023
Sedgwick Australia consolidates engineering and construction under Andre Mataia
Mataia became the loss adjuster's head of construction for Australia in March.
