Industry Segments: Insurers Page 20 / 23
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- May 20 2025
Tower reports H1 FY25 COR of 69.7%, profit up to US$36.5m
Kiwi insurer’s first half GWP was NZ$176m, up 4% from a year ago, while it reported large-event costs of US$1.8m.
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- May 20 2025
New Zealand’s US$38bn natural hazards bill shines spotlight on ‘urgent need to reduce impact’: IAG
Since 2010, the government has spent 97% on response to catastrophes, and only 3% on risk reduction and resilience.
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- May 19 2025
Ping An P&C’s underwriting profitability better than domestic peer average: AM Best
AM Best affirms an insurer rating of A (excellent) with a stable outlook.
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- May 19 2025
Canopius expands APAC leadership with double appointment
Singapore-based Chen Zhang and Channing Chiu will report to APAC and MENA CEO Soon Keen Lee.
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- May 16 2025
Tokio Marine Indonesia to sustain strong capital buffers, overall earnings: AM Best
AM Best affirmed its insurer rating of A- (excellent) with a stable outlook.
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- May 16 2025
HDI builds out North Asia liability team with TaeHan Kim as underwriting manager
Joining from Scor Australia, Kim will be based in the specialty (re)insurer's Hong Kong office.
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- May 15 2025
Philippines’ P&C growth supported by rising demand, stabilised reinsurance capacity: AM Best
However, underwriting performance is subject to greater volatility due to the country's increased nat cat exposure.
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- May 15 2025
IAG’s 10-month nat cat bill at US$580m, tracking 22% below allowance
Its FY25 profit guidance in on course to increase by 12% to US$1.2bn.
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- May 15 2025
Vietnam’s PVI partners South Korea’s EGI for engineering guarantee insurance foray
Cooperation aims to create favourable conditions for South Korean construction enterprises to participate in infrastructure projects in Vietnam.
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- May 15 2025
IAG to acquire RAC Insurance in US$870m deal
Deal includes a US$612m, 20-year exclusive distribution agreement with The Royal Automobile Club of Western Australia for RAC branded home, motor and niche insurance products.
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- May 14 2025
HDI Global appoints Casey Sandler as interim MD for Japan branch
Sandler will replace Uwe Jürgen Sievers, who will step down after 30 years of service due to personal reasons.
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- May 14 2025
Japan’s major non-life insurers’ profitability to improve in short term: AM Best
Tokio Marine, MS&AD and Sompo Holdings are committed to reducing their equity holdings to zero over the next 5-6 years to improve capital efficiency and financial transparency.
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- May 13 2025
Korea’s FSC to establish bridge insurer for MG Non-Life reorganisation: report
Temporary insurer will be funded by Korea Deposit Insurance Corporation to manage the troubled carrier's insurance contracts and transfer to other non-life carriers.
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- May 13 2025
Lotte Insurance plans capital raise as it postpones US$64m bond redemption: reports
Carrier's plans to exercise a call option ran into opposition from regulator FSS due to low capital ratio.
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- May 13 2025
APRA authorises IAG-backed CGU Australia as new general insurer
IAG had announced it will restructure CGU and WFI Insurance brands by centralising specialist expertise.
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- May 12 2025
Axa XL Australia hires trio to expand property, construction, energy claims team
Tylie Petrovski, Rebecca Williams and Ilija Bogoevski have joined the insurer in Brisbane and Sydney.
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- May 12 2025
Korea P&I club gets rating outlook downgrade as 2024 COR climbs to 204%: AM Best
Rating agency has revised the outlook to negative from stable and affirmed the financial strength rating of B++ (Good) and the long-term ICR of bbb+ (Good) of the club.
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- May 12 2025
Lotte Insurance faces regulatory block on US$64.2m bond redemption amid capital concerns
Under the current supervisory regulations, early redemption is only allowed if the solvency ratio K-ICS remains above 150% after redemption but South Korea's financial regulator estimates the ratio would drop to 127.4% following the redemption.
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- May 9 2025
Cut taxes to bring relief to Australian policyholders, QBE chairman says
Australia’s state government insurance taxes raised US$2.2bn more than the entire industry’s profits in 2024.
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- May 9 2025
India to revive plan to merge 4 general insurers: report
Merger would create a non-life carrier with the highest market share in India and help the government’s mission of 'insurance for all' by 2047.
