Industry Segments: P&C Page 10 / 57
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- May 15 2024
Japan’s big 4 face price fixing allegations in group insurance policies: report
The insurers, who have in the past been accused of cartelisation in commercial insurance policies, are facing regulatory probe over personal insurance pricing.
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- May 14 2024
Hannover Re books US$40m losses from Japan’s Noto earthquake, plane crash
The twin events in Japan accounted for 10% of the reinsurer's large loss budget for the first quarter.
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- May 14 2024
Everest Australia launches with Sydney and Melbourne offices
The team, led by Christian Colombera, will write property, casualty, financial lines, professional lines, and energy and construction risks.
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- May 14 2024
Battery risks extend EV insurance’s frontier into product liability
The heightened risks of fire and explosions associated with the use of lithium-ion batteries are forcing (re)insurers to rethink the way they approach their motor insurance business.
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- May 9 2024
Malaysian Re FY 2024 GWP tops US$500m; parent achieves record net profit
The Asean reinsurer reported a combined ratio of 95.5% and its post-tax profit grew 146% in the latest financial year.
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- May 8 2024
Shanghai Insurance Exchange appoints Wang Zhe as new head as ex-chair faces probe
Wang, an insurance veteran specialising on data analysis and infrastructure, has replaced Ren Chunsheng, who is under probe by the Communist Party's top anti-graft watchdog.
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- May 8 2024
Asian insurers bracing for a soft market cycle as competition revs up
Increasing capacity and a relatively benign cat loss environment are driving down primary market rates across business lines and markets in the region.
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- May 7 2024
APAC markets moderating, loss-exposed lines remain challenging: Aon
Cat-exposed property across Asia saw limited capacity and renewal price increases but capacity for casualty remained abundant, leading to moderate market conditions, despite concerns of increasing exposures.
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- May 7 2024
MS&AD’s new CEO vows to fast-track unwinding of strategic holdings: report
Shinichiro Funabiki, the incoming group chief executive, has pledged to sell down cross-holdings in two years as part of a wider clean-up of the group's governance.
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- May 7 2024
BYD arm gets regulatory greenlight to offer motor cover in China
Shenzhen BYD P&C Insurance, owned by China's biggest EV maker, has been allowed to offer compulsory traffic accident liability insurance in seven provinces and in Shenzhen.
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- May 2 2024
Peak Re reports best-ever net profit of US$200m in FY 2023, COR down to 87.3%
The Hong Kong carrier's reinsurance revenue saw a 14.6% year-on-year decline in FY 2023 at US$1.56 billion.
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- April 30 2024
Singapore’s Income Insurance debut on digital securities exchange
Trading on platform AltaX provides liquidity to the insurer's almost 16,000 shareholders, who hold stocks valued at about US$619m.
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- April 30 2024
QBE elevates Nicola Schroder to group head of sustainability
Melbourne-based Schroder will be responsible for sustainability governance, strategy implementation, human rights, and modern slavery initiatives, and driving social impact through the QBE Foundation.
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- April 26 2024
Shinkong Insurance’s rating outlook revised to ‘positive’: AM Best
The Taiwanese insurer's long-term issuer credit rating benefitted from prudent underwriting strategy, favourable claims experience and disciplined expense management.
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- April 26 2024
Opinion: European regulator’s climate conundrum poses questions for South-East Asia’s risk mitigation
Excluding high-risk areas from coverage does not provide a viable solution, as all actors need to work together to address climate risk, including the P&C sector, governments and society.
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- April 25 2024
New UN-led climate forum launches with IAG, Singapore insurers as founding participants
The Net-Zero Insurance Alliance has been discontinued and the new forum will comprise 19 (re)insurers from Africa, Asia, Europe, Latin America and the Caribbean, North America, and Oceania.
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- April 25 2024
MSIG Singapore could post modest premium growth in 2024: S&P Global
S&P Global Ratings affirmed MSIG Singapore's "A+" local-currency financial strength rating with a stable outlook.
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- April 25 2024
Asia commercial insurance rates decline 2% in Q1: Marsh
Property, casuaty, finpro and cyber rates fell in the first quarter the year in Asia, while in the Pacific, property stabilised while casualty premiums continued to grow for the fourth consecutive quarter, albeit at a slower clip.
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- April 24 2024
Arch promotes Kirsten Valder to deputy CEO of international
London-based Valder will have oversight over the carrier's platforms in Australia, London and the UK markets, Bermuda and the EU, reporting to Hugh Sturgess, CEO of Arch Insurance International.
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- April 24 2024
Insurers face headwinds from pace of regulatory changes: Zurich’s APAC CRO
Regulatory changes aside, the insurer's regional head of risk Siddhartha Medappa names macroeconomic risks, climate change, cyber and infectious disease as top risks facing businesses in the region.
