News Page 504 / 1279
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- August 25 2023
IRDAI approves reinsurance regulation amendments
The minimum capital requirement for foreign reinsurance branches has been halved to US$6m, with the provision to repatriate any excess assigned capital.
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- August 25 2023
Opinion: ‘Smart urbanisation’ is a ticking time bomb for APAC (re)insurers
Carriers are scrambling to manage high property value and cyber risks related to the growth of the digital economy and infrastructure across major APAC conglomerations.
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- August 25 2023
War risk premiums for Russian oil shipments on the rise: report
Rates have gone up from around 1% of the cargo's cost to some 1.20-1.25% hurting Asian importers who are the biggest importers of Russian crude.
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- August 25 2023
New Zealand announces US$524m for Auckland post-flood rebuild
The government will contribute up to US$229m or around 50% of the agreed buyout value less insurance payments for houses deemed unlivable.
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- August 24 2023
Seoul Guarantee Insurance passes Korea Stock Exchange IPO screening
The initial public offering, the first by a Korean state-owned company in 13 years, is expected to be completed by the end of October this year.
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- August 24 2023
Claims’ payouts from Japan’s July floods hit US$164m: GIAJ
Record rain hit several prefectures including on Kyushu, Japan's third largest island, resulting in over 25,000 claims for damage to vehicles and property.
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- August 24 2023
McLarens prepares for larger Asia losses
The global adjuster is focusing on adjacency services, technical expertise, regional expansion, technology and developing local talent as it reaches a 50-year milestone in the region.
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- August 24 2023
PSC Insurance founder Paul Dwyer to become chairman as Brian Austin takes on Asia role
Austin will remain on the board as deputy chairman and become chair of the broker’s Asian businesses as profits start to flow in Hong Kong.
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- August 23 2023
Miller promotes Nigel Cross to Asia fac head, hands Matthew Hooker expanded role
Hooker will head client strategy in the region, while Cross, who steps down as head of Singapore, will assume an additional role leading the broker's regional underwriting market engagement.
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- August 23 2023
Sompo International snaps up Allianz’s Alasdair Walker to head APAC distribution
Walker will continue to be based in Singapore and report to Paul O’Neill, president of commercial lines, insurance, Asia Pacific.
