News Page 356 / 1060
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- February 6 2023
ICICI Lombard cuts down underwriting losses: AM Best
The global rating agency has affirmed a financial strength rating of B++ (good) with a stable outlook.
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- February 6 2023
AM Best downgrades Fubon Insurance’s credit rating as Covid losses mount
The Taiwan P&C carrier's rating has been changed to “A” (excellent) from “A+” and is under review with negative implications.
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- February 6 2023
Asia Q4 2022 property pricing up 2% as casualty fell 1%: Marsh
Cyber rates increased 22%, an improvement over previous quarters, as more capacity entered the market.
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- February 6 2023
AM Best hands Bangkok Insurance B++ rating, withdraws after request
The Thai insurer has requested to no longer participate in AM Best’s rating process.
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- February 3 2023
Hong Kong’s MHK buys Lombard International Singapore
The deal is specialty (re)insurance and HNW life broker MHK Insurance Services' first overseas M&A foray.
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- February 3 2023
Australia disaster funding under an independent review
Led by Andrew Colvin of Deloitte, the review evaluates government investment in disaster risk reduction and resilience.
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- February 3 2023
IAG hit by 15,000 claims from NZ floods, ups FY 2023 nat cat forecast by US$167m
Reinsurance likely to be triggered as the Australian carrier says gross costs for the Auckland event are set to exceed US$248m, above a maximum event retention of US$167m.
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- February 3 2023
Chinese insurtech Cheche Group initiates SPAC merger for US listing
The transaction values the combined company at an enterprise value of US$841m.
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- February 2 2023
Swiss Re’s Paul Murray handed global L&H role with Urs Baertschi to head P&C in restructure
Regional president roles, including Murray's APAC and Baertschi's EMEA positions, will not exist from April as reinsurance business splits into global P&C and L&H divisions.
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- February 2 2023
Honan snaps up Ardrossan Insurance Brokers
Melbourne-based Ardrossan was established by Nick Harvey in 2013 and works with sectors including manufacturing, retail, hospitality, finance, property, logistics, construction and sport.
