Industry Segments: Non-life Page 8 / 14
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- July 24 2023
Toa Re posts 6% growth in net premiums
Toa Re wrote US$2.26bn of premium for the year ended March 31, 2023.
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- July 7 2023
Indian non-life premiums grew 16.5% for H1 2023
General insurers wrote premiums worth US$7bn till June this year as against US$5.91bn in the same period last year.
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- July 3 2023
Korean regulator mulling separate licence for reinsurers
The revised licensing regime will only apply to new players and is intended to bring more capacity and competition to the market, according to a Korean Re report.
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- June 29 2023
Japanese carriers’ domestic underwriting to recover to pre-pandemic levels in FY 2024: Fitch
The average combined ratio of the major Japanese non-life insurers, Tokio Marine, MS&AD, and Sompo, increased by six percentage points year-on-year to 100% in FYE23.
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- June 29 2023
Lack of cross-border clarity slows (re)insurers entry into India’s Gift City
Despite the regulatory push, only four carriers have so far set up in the financial hub, with most non-life players awaiting clearer regulations.
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- June 28 2023
Long-term products, auto to drive growth for Korean insurers: AM Best
Stable outlook ahead for Korean non-life insurance business as IFRS 17 is expected to bring in more stability.
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- June 21 2023
Japan’s FSA orders non-life insurers to explain allegations of cartelisation
Tokio Marine & Nichido, Sompo Japan, Mitsui Sumitomo and Aioi Nissay Dowa are alleged to have 'pre-adjusted' fire insurance premiums.
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- June 20 2023
Seoul Guarantee Insurance files for Korea Exchange listing: report
Samsung Securities and Mirae Asset Securities have been appointed as the lead underwriters for the proposed IPO.
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- June 19 2023
FWD General Insurance to exit group medical in 2024, tail off employee compensation: Fitch
The rating agency has affirmed the Hong Kong carrier's rating at 'BBB+' (good) while its outlook has been revised to stable from positive.
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- June 16 2023
Taikang-backed Tk.cn scripts underwriting turnaround with COR improving 29 points to 92%
Fitch has affirmed the Chinese digital non-life insurer's rating at A- with a stable outlook.
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- June 8 2023
GIC Re set to appoint Ramaswamy Narayanan as chairman
The government will also appoint United India Insurance general manager Rajeswari Singh as chairman and managing director of National Insurance.
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- May 31 2023
AIG exits Pakistan, sells business to TPL Insurance
The scheme of arrangement has a December 31 deadline for transaction completion.
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- May 25 2023
Singapore insurers report 58% dip in 2022 profits despite premium growth: MTI
The 2022 economic survey noted that general insurers in the Lion City reported a 9.7% growth in GWP while the overall finance and insurance sector in the country shrank by 0.9%.
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- May 12 2023
Chinese insurers premium growth to accelerate in 2023: Fitch
The first quarter of FY 2023 has already seen rapid growth as non-motor grew by 14.1% and motor rose by 6.2% year-on-year.
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- May 11 2023
Indian finance ministry sets riders for fresh capital in three state-owned P&C carriers: report
National, Oriental and United India will need focus on the bottom line and improve costs, digitalisation and products.
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- May 11 2023
Raheja QBE appoints Rajeev Dogra as MD and CEO
Mumbai-based Dogra, who joined the firm in 2011, was most recently chief distribution officer.
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- May 10 2023
Starr Insurance expands Malaysia operations with Labuan branch
Starr Labuan, to be overseen by Rawi Letchumanan, will take over all new and renewal business previously produced by Starr Underwriting Agents (Labuan).
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- April 28 2023
Hinduja Group offers to inject US$43m into India’s Reliance General Insurance
The offer is part of the group's takeover bid for troubled financial services group Reliance Capital, which owns 100% of the general insurer.
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- April 18 2023
Malaysian general insurers’ underwriting profit contracts 23% in 2022
Gross direct premiums grew 10% year-on-year to US$2bn in the last calendar year, according to data from General Insurance Association of Malaysia.
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- April 17 2023
Chinese non-life carriers have solid capital, reinsurance to face cat risks: Fitch
A steady investment yield contributes favourably to most insurers’ overall operating stability and underwriting performance.
