Industry Segments: Credit Page 1 / 2
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- April 22 2024
OJK grants reinsurance licence to Orion Reasuransi Indonesia
The new carrier, to be led by Fitris Dinarwan, will offer multipurpose credit and home ownership credit reinsurance, according to its website.
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- April 19 2024
Axa XL hires Jack Hullah as Asia underwriting manager for political risk, credit & bond
Hullah will focus on expanding the company's political risk, credit platform in Asia, after joining the insurer from Mitsubishi UFJ Financial Group.
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- April 11 2024
Guy Carpenter hires Partner Re’s Richard Chu as managing director for credit, bond & political risk
Singapore-based Chu will be responsible for new business development across Asia Pacific and will report to the head of the division, David Edwards.
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- March 18 2024
Ping An P&C improves underwriting with reduced credit and guarantee exposure, new motor policies: AM Best
The rating agency has affirmed the insurer rating of A (excellent) with a stable outlook.
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- March 4 2024
Asei Indonesia to further reduce credit insurance exposure: Fitch
The rating agency has affirmed the carrier's 'A (idn)' rating with a stable outlook to the Indonesian insurer.
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- February 9 2024
Fitch slashes Indonesian insurer Eka Lloyd’s outlook on lower capitalisation
The Indonesian insurer's “BBB+” rating is affirmed. Still, credit insurance, which accounts for the bulk of its premium, could add volatility to its reserve.
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- January 31 2024
Canopius strengthens APAC credit & political risk team with underwriter hire
Sydney-based Dimitri Plastiras, who will be transferred to Singapore later this year, is among four senior hires by the specialty (re)insurer globally for the credit & political risk division.
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- January 30 2024
Seoul Guarantee Insurance’s parent revisits IPO plan after failing to impress investors last year: report
KDIC, the state-run parent of the Korean guarantee insurer, has made a first step towards relaunching an IPO, which was shelved in late 2023.
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- January 22 2024
MPM Insurance to reduce multipurpose credit exposure, focus on motor: Fitch
Fitch Ratings has assigned an insurer rating of 'A+(idn) with a stable outlook to the Indonesian insurer.
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- December 1 2023
Zking P&C to remain profitable in 2023 despite higher claims: Fitch
Fitch Ratings has affirmed an insurer rating at 'A-' (strong) for the company with a stable outlook.
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- December 1 2023
Seoul Guarantee in good stead despite potentially higher claims in 2023: Fitch
Fitch Ratings has affirmed the insurer's rating at 'AA-' (very strong) with a stable outlook considering its capitalisation levels and explicit support from its parent.
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- November 13 2023
Mapfre Re will ask for corrections from clients as ‘there is no room for flexibility in Asia’
Regional head Javier Sánchez Cea says, the Spanish reinsurer is targeting China as part of its wider APAC strategy to grow life, casualty, bond and credit lines.
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- October 10 2023
Reinsurance-driven Indonesian non-life carriers continue to face underwriting challenges: AM Best
AM Best has assigned a negative sector outlook for the Indonesian non-life insurance sector due to heightened reinsurance credit risk.
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- October 2 2023
ECGC improves claims experience despite volatility: AM Best
AM Best has assigned a rating of B++ (good) with a stable outlook considering its strong capital position.
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- September 21 2023
Former CEO, CFO at New Zealand’s collapsed insurer CBL cleared of fraud charges
There were 11 cases brought by the country's Serious Fraud Office relating to transactions made by CEO Paul Harris and CFO Carden Mulholland in the run-up to the failure of the credit insurer.
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- September 13 2023
Indonesia’s Mega Insurance to pare credit insurance portfolio: Fitch
Fitch Ratings has affirmed an insurer rating of 'A+ for the company with a stable outlook while its COR improved to 87% in FY 2022 as against 93% in FY 2021.
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- September 7 2023
Seoul Guarantee Insurance plans Hong Kong, Singapore IPO roadshows
The state-owned insurer plans to hold domestic and international investor meeting till the middle of next month for listing as early as November.
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- September 7 2023
Analytics: Chinese P&C carriers focus on agri, liability offerings in acceleration away from motor
- Analytics
- Agriculture
- China
- China Continent P&C
- China Pacific Insurance P&C
- PICC Property and Casualty
- Ping An
- Sunshine Insuranece
Improved underwriting results, new products and a push from the government are driving growth, but an uncertain economic outlook has seen carriers rush to pare credit surety exposures.
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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 18 2023
Indonesia’s Covid-hit credit (re)insurance market not yet out of the woods
Despite significant reserve strengthening and re-underwriting of policies, uncertainty around the ultimate claims position remains given the long duration of products.
