News Page 390 / 1196
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- November 10 2023
ZhongAn Online P&C to benefit from ability to integrate tech innovation into insurance operations: AM Best
The rating agency has affirmed the Chinese online-only insurer an A- (excellent) rating with a stable outlook taking into account its very strong balance sheet.
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- November 10 2023
Marine war premiums climb after fatal strike on Philippines-owned bulk carrier: report
Premiums have risen to 3% of the value of the vessel from around 1% before the attack on the vessel, which was insured for US$15m and damages seen at US$4m without liabilities for the crew, the report said.
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- November 10 2023
GIC Re reports 9% dip in H1 earnings, COR deteriorates to 117%
The state-owned reinsurer reported a premium income of US$23.5bn and a profit after tax of US$2.85bn.
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- November 10 2023
QBE Asia hands Cynthia Huang additional charge as Taiwan desk lead
Hong Kong-based Huang, who is also the head of financial lines for the carrier, will be responsible for distribution and business development.
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- November 9 2023
Two foreign brokers get licences to set up China operations
In a first in 5 years, BMW and Ergo-FRESCO have been given regulatory approval to offer insurance and reinsurance broking.
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- November 9 2023
Berkley Insurance Australia names Kirsty Owens as national e-business manager
Greater Adelaide-based Owens will report to BIA chief executive officer Tony Wheatley.
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- November 9 2023
PICC is second largest fossil fuel insurer with US$1.45bn premium income in FY 2022
According to a report by Insure Our Future, global insurers earned around US$21.25 billion in 2022 from fossil fuels with the Lloyd’s market collectively contributing US$1.6 - US$2.2 billion.
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- November 9 2023
Arch Australia launches new cyber practice with Chubb hire
Sydney-based Rachel Green will lead the development of Arch’s cyber insurance portfolio across Australia and the Pacific region, reporting to regional manager Dominic Brannigan.
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- November 9 2023
Axa XL appoints Adias Gerbaud as CUO for APAC, Europe
She assumes the role from Etienne Champion, who is taking on a new position at Axa Group as P&C Commercial Lines group chief underwriting officer.
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- November 8 2023
Energy pricing to remain elevated as risks stay put: WTW
Deteriorating loss ratios and increased reinsurance costs have put the brakes on any softening.
