Industry Segments: Motor Page 6 / 11
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- 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.
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- 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.
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- 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.
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- 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.
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- 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.
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- 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.
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- 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.
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- 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.
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- January 11 2023
Analytics: 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.
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- 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.
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- 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.
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- 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.
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- 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.
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- 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.
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- 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%.
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- September 19 2022
Chinese P&C carriers ‘step up coverage’ as extreme weather looms
With urban flood damage estimated to rise to US$77bn in 2030, insurers are diversifying from motor to property and agriculture lines, Morgan Stanley report.
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- September 9 2022
Korean digital insurer Carrot plans to go public by 2025
The Hanwha-owned carrier was valued at US$850m after a US$217m third-round fundraising.
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- August 3 2022
APAC (re)insurers prioritise pricing amid inflation pressure
APAC non-life GWP and rates will continue to climb, but the pace of growth is a mixed picture across the region.
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- August 1 2022
Malayan Insurance COR hampered by fire and cat losses: AM Best
The company reported a five-year average combined ratio of 101.4%.
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- July 26 2022
Infrastructure projects to spur Thailand’s GI market: GlobalData
Around US$37bn has been allocated by the government towards a smart city.
