Industry Segments: Claims Page 14 / 45
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- May 17 2023
Tokio Marine withdraws from select Pacific markets: report
The insurer exits Guam and the Northern Mariana Islands as margins deteriorated in 2022 as medical claims rebounded.
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- May 16 2023
Hannover Re questions Taiwanese cedents’ hefty Covid bill
The reinsurer says it is collecting underwriting information to assess the validity of many pandemic claims over the last few years.
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- May 12 2023
QBE hits 90% of H1 cat allowance, adjusts COR target
The global carrier has also strengthened reserves by US$130m for weather events in FY 2022.
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- May 12 2023
Hannover Re sees up to 20% nat cat rate hike in Japan 1.4 renewals
APAC benefits from the discontinuation of proportional business; books US$100m of New Zealand cat losses.
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- May 11 2023
Ping An P&C settled US$27bn of claims in 2022
The group, across its four insurance companies, paid for more than 200 million cases at an average of about 600,000 cases per day in 2022.
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- May 8 2023
Tower sees Auckland flooding costs double to US$142m
The Kiwi insurer, whose cat event reinsurance kicks in at US$7.5m, is expecting to book US$3.5m of H1 losses.
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- May 8 2023
Losses mount from south-east China flooding
There have been more than US$72m of economic losses as the monthly precipitation is expected to approach or exceed May records.
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- May 4 2023
New Zealand mulls ban on rebuilding ‘high-risk’ properties as cat claims surge
IAG deals with a record 46,000 summer claims as government spends US$400m on Cyclone Gabrielle clean-up costs.
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- May 3 2023
New Zealand flood losses rise to US$1.08bn: Perils
The figure relating to the North Island event is a 6% increase from the initial loss estimate of US$1.03bn.
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- April 28 2023
Mitsui Sumitomo facing lunar loss after ispace mission failure
The Japanese carrier provided the world’s first 'lunar insurance' cover for the risks arising from the mission.
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- April 27 2023
Perils revises Australia October flood losses to A$907m
Personal lines property losses constituted 65% of the total industry loss, while commercial lines property losses represented 25% and motor losses at 10%.
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- April 27 2023
PVI confirms Vietnam helicopter crash payout
The total cost for the chopper and the compensation for the dead pilot is around US$2m, with compensation for the four dead passengers still being worked out.
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- April 26 2023
Philippines oil spill damages hit US$68m: NDRRMC
The sinking of MT Princess Empress in Oriental Mindoro has directly affected 24,000 fishermen and a total of 40,897 families, says the country's disaster management agency.
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- April 20 2023
Sedgwick appoints key leaders in forensic accounting team
Andrew Cardamis and Jillian Pancott have been promoted to partner and director respectively, and bring over a decade of client experience.
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- April 17 2023
Shipowners’ Club insures Singapore ship likely taken over by pirates
The ship, Success 9, has since been located off the Ivory Coast with all crew safe.
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- April 14 2023
Tugu Insurance (Hong Kong) continues diversification push: AM Best
After years of 'unstable' underwriting results, the Indonesian-owned insurer has moved away from construction employees’ compensation to focus on lines such as a goods in transit.
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- April 14 2023
Taiwan P&C carriers seek lifeline from owners after regulatory rebuke
Tokio Marine has taken majority control of its JV, while Fubon, Hotai, and CTBC parents are set to absorb losses.
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- April 13 2023
New Zealand nat cat claims set new record for 2022: ICNZ
At US$218m, it is the third consecutive year a new record has been set, with 2023 already surpassing the total from January and February events alone.
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- April 12 2023
PVI Insurance leads consortium of insurers for crashed Vietnamese chopper
Bao Viet Insurance and Military Insurance are other members of the consortium that provides cover to the Vietnam Helicopter Corporation fleet.
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- April 11 2023
Taiwan regulator orders four insurers to raise capital or risk being taken over: report
Fubon, Tokio Marine Newa, Hotai and CTBC must restore their solvency levels by the end of June, or they would be taken over by the Financial Supervisory Commission within 90 days.
