Industry Segments: Motor Page 1 / 6
- March 17 2023
Asuransi Astra to maintain strong capital, reports robust numbers: AM Best
The rating agency has assigned an A- (excellent) rating to the company with a stable outlook
- March 6 2023
Queensland starts CTP review as it warns carriers may exit low-profit scheme
The regulatory review is focused on improving the sustainability of the scheme and will not change premium-setting processes and compensation benefits.
- March 1 2023
Four insurers preparing GBA one-policy motor cover: report
Ping An, China Taiping, Zurich and Asia Insurance are looking to take advantage of a HK/Guangdong travel scheme.
- February 23 2023
Hyundai Insurance’s premiums grow 5.8% to US$12.6bn
The Korean carrier's commercial arm's COR for FY 2022 was at 89.2%.
- February 22 2023
Enstar Group in LPT deal with RACQ for 80% of motor liabilities up to accident year 2021
Under the reinsurance deal RACQ will cede net reserves of approximately US$264m.
- February 21 2023
KB Insurance Indonesia rides on motor line growth, parent support: Fitch
The carrier's premiums grew at 25% in 2022, 52% in motor premium line.
- February 3 2023
Chinese insurtech Cheche Group initiates SPAC merger for US listing
The transaction values the combined company at an enterprise value of US$841m.
- February 2 2023
Omar Ghaznawi to lead Chubb international personal lines, APAC
Joining from the insurer's New York team, he will be in charge of the region's motor, residential, specialty personal and HNW lines.
- February 2 2023
EV giant BYD in talks to acquire Yian P&C Insurance
The Shenzhen-headquartered insurer was seized by Chinese authorities in 2020.
- January 30 2023
Suncorp, Tower and IAG assessing over 9,000 claims from historic Auckland flooding
As assessors fly in from Australia, many more claims are expected after record rainfall on January 27 caused widespread damage.
- January 27 2023
Australia’s October 2022 flood losses rise 6.4% to US$598m: Perils
The estimate includes property and motor hull losses for the majority of the market for floods in NSW, Victoria and Tasmania.
- January 18 2023
CBIRC’s new motor pricing regime may strain small insurers’ profitability: Moody’s
The regulator hiked the floating range of the independent pricing coefficient of commercial motor insurance to 0.5 - 1.5.
- January 18 2023
Indian non-life insurers generated US$37bn of premiums in 2022
Motor was one of the classes which helped Indian non-life premiums grow 14.65% in 2022.
- January 11 2023
India’s gaping nat cat protection gap offers scope for carriers
Though it is set to be sixth largest P&C market by 2032, 95% of the country's catastrophe losses were uninsured.
- December 16 2022
Opinion: RACQ exit rumour calls into question CTP scheme
Demands for an overhaul of the state’s motor insurance framework have resurfaced with the reports of a possible sale of the club’s motor arm.
- December 13 2022
China’s easing Covid norms to help non-life underwriting performance: AM Best
Non-life insurers in China posted a healthy 20% earnings growth this year till September.
- November 25 2022
Motor profitability to drive China P&C, outlook revised to stable: Moody’s
Premium growth will remain solid over the next 12-18 months.
- October 20 2022
HKIA welcomes policy proposals to facilitate cross-border GBA cover
Hong Kong chief executive John Lee is targeting after-sales insurance service centres in Nansha and Qianhai.
- September 28 2022
Higher loss ratios driving up China NEV insurance rates: report
Electrical vehicle cover 20% more expensive than conventional cars because they are more prone to fire and parts are more expensive.
- September 26 2022
Malaysia’s Pacific & Orient suffers from lack of diversification: Fitch
The firm's COR was 96% in FY 2021 compared with 107% in FY 2020, with a three-year average of 100%.