Industry Segments: P&C Page 14 / 56
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- February 15 2024
Tower revises full year earnings guidance upwards on strong trading results
The Kiwi insurer expects underlying net profit to be at the upper end or exceed previous target of NZ$22-NZ$27 million.
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- February 15 2024
Fubon Insurance shakes off Covid provision, logs record monthly premium in January
The non-life carrier recorded strong growth in commercial fire and engineering insurance in January, which bolstered direct written premium to US$221.9m.
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- February 15 2024
QBE appoints Robert Kosova as Asia CEO
Kosova will relocate to Singapore to assume his new role from April 1, taking over from incumbent Jason Hammond, who will return to Australia.
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- February 15 2024
Overseas growth drives Japan’s big three as domestic premiums flatten
The third quarter results reported by MS&AD, Tokio Marine and Sompo Group show strong top-line growth and substantial improvements in profits from international arms due to lower nat cat losses, reduced Covid-19 losses and forex gains.
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- February 14 2024
MS Amlin COR for 9M FY 2023 improves to 90%, reports solid top-line growth
The MS&AD-owned specialty (re)insurer reported insurance service profit of US$309m, reversing the loss reported a year ago.
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- February 14 2024
Tasmania puts fire tax reforms on hold: reports
Insurance Council of Australia called the move “profoundly disappointing” and unfair, as the fire service levy adds up to 28% to the cost of a diverse range of commercial policies.
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- February 14 2024
Fairfax-backed Go Digit gets IRDAI approval for US$150m IPO
The Indian digital insurer's listing plan was delayed after the insurance regulator issued a show cause notice in October 2023, the latest clearance from the insurance regulator now clears one hurdle in its path towards an IPO.
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- February 9 2024
Chubb’s Greenberg flags up tail risks from Asian geopolitical escalations
In an earnings call following the global carrier's 'the best in the history' fourth-quarter results led by Asia, the chief executive warned of wider global implications of regional conflicts, but reassured that 'all sides are seeking stability'.
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- February 7 2024
Indian government panel proposes composite licencing in insurance: report
The committee has also proposed a reduction in goods and service tax rates from the current level of 18% for health and term products.
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- February 7 2024
Indian competition regulator approves Zurich’s acquisition of Kotak Mahindra General Insurance
The watchdog has approved the 51% stake buy announced in Nomber last year as well as the global carrier's proposal to acquire an additional 19% within three years of deal completion.
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- February 5 2024
Taiwan non-life sector returns to profitability in 2023
Pre-tax profit for the non-life sector totalled US$557m as the drag from Covid-19 related losses eased.
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- February 2 2024
Cover-More appoints Justin Sebire as interim group CEO
Sebire will replace Cara Morton, who has relocated to Switzerland to pursue her new role as CEO of Zurich Global Ventures.
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- February 1 2024
Sunshine P&C Insurance to sustain underwriting profits, stable outlook: Fitch
The P&C arm of listed Sunshine Insurance Group should be able to sustain profits in the near-term due to tighter risk selection and reduced guarantee business.
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- January 31 2024
Japan’s non-life insurers to stay profitable despite large cat losses: AM Best
The rating agency is maintaining its stable outlook on the sector's underwriting performance despite sizable earthquake, typhoon and hailstorm claims.
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- January 31 2024
Asian casualty rates softening but underwriters wary of spike in claims
Though capacity remains abundant for liability lines in the region, carriers remain cautious over rising claims costs and knock-on effects from US and Australian markets.
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- January 31 2024
Youi Insurance appoints executive general manager in Brisbane
Brisbane-based Chris Jarrett, who started in his new role on January 15, will be advancing Youi’s claims management capabilities and claims experience for the customers.
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- January 30 2024
Adrian Sweeney returns to Zurich as New Zealand general manager
After departing from MGA Delta Insurance two years ago, Auckland-based Sweeney rejoins the global insurer where he had worked for over 20 years.
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- January 29 2024
Sompo commits to fixes and reviews as FSA issues six-point business improvement order
The Japanese insurer is taking measures including clarification of management responsibilities related to Bigmotor, and make insurance premium adjustment.
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- January 26 2024
Consistent underwriting profits back Bao Minh Insurance’s stable outlook: AM Best
AM Best has affirmed the Vietnamese carrier's issuer rating at B++ (good) with a stable outlook, due to its consistent profits and strong balance sheet.
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- January 26 2024
Vietnam’s PTI sees rising loss ratio on health and motor lines: AM Best
AM Best has affirmed an insurer rating of B++ (good) for the company with a negative outlook due to its recent capital erosion.
