News Page 66 / 910
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- February 26 2024
NSW to focus on mitigation as annual nat cat bill expected to soar to US$6bn by 2060
The State Disaster Management Plan includes measures to reduce communities’ exposure and vulnerability to disasters through awareness and preparedness campaigns, and it has set an end-2024 deadline to review levy arrangements.
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- February 23 2024
DB Insurance underwriting profit drops 22.7% to US$1.1bn
Commercial lines, which the carrier plans to revitalise through a profit-based sales system, reinsurance program optimisation and overseas expansion, reported a loss with the COR at 109.5%.
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- February 23 2024
Zurich Asia property & casualty FY2023 GWP up 11% on travel business recovery
Asia Pacific's operating profit rose 18% primarily due to growth in life business, while higher commission rate linked to its travel business sales weighed on P&C combined ratio.
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- February 22 2024
India property cat rates rose 50% past nine months: report
Storms, tempests, floods, and inundations rates are expected to be further revised upwards during April 2024 renewals.
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- February 22 2024
Samsung Fire & Marine FY 2023 insurance profit up 18.6% at US$1.5bn
South Korea’s largest carrier charts overseas expansion plans for its P&C lines, which saw its insurance profit grow 112% year-on-year.
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- February 22 2024
Dual names new head of liability for New Zealand
Stewart Eaton, who was most recently senior underwriter for the specialty MGA, will start in the role on April 15.
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- February 22 2024
IRDAI to introduce collateral for cross-border reinsurance programs
The collateral shall be either an irrevocable LOC, or premiums or funds withheld by the cedent, the Indian regulator said in an exposure draft.
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- February 22 2024
Insurers lobby for removal of green infrastructure investing roadblock
The twin challenges of inflation and net-zero transition facing (re)insurers are highlighting the role that infrastructure assets can play in their portfolios, with infrastructure loan yielding as much as 600 bps in risk premium and equities returning 12%.
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- February 22 2024
Tokio Marine leadership reshuffle to see Keiko Fujita take over as managing director from June
Current MD Yoshinori Ishii will step down from his role but continue as managing executive officer, while Fujita will retain her role as general manager of Tokio Marine & Nichido Fire in China.
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- February 22 2024
New capital norms to drive consolidation in Indonesia’s takaful and retakaful sector: Fitch
Almost half the companies will have to raise capital to meet the requirement by end-2026 based on their latest equity levels, and almost two-thirds of them by end-2028, as capital generated through growth is unlikely to be sufficient, the rating agency said.
