Industry Segments: P&C Page 2 / 57
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- November 20 2024
P&C GWP growth in mature APAC markets to reach 3.2% in 2024: Swiss Re
Emerging Asia will remain the main driving force with non-life premiums to grow at a 7.4% CAGR in 2025‒26 as India outperforms all major developing markets.
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- November 19 2024
India’s WestBridge Capital joins forces with former Tata AIG CEO to launch general insurer: reports
The private equity firm will hold a majority stake with Neelesh Garg taking a 10% ownership in the new joint venture that will be launched mid-2025 and will offer health, motor, fire, and property covers.
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- November 19 2024
Generali GC&C hires Nicholas Selff from Chubb as head of underwriting for Asia
Selff, who has relocated to Hong Kong, started with the insurer's leadership team on November 18.
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- November 18 2024
Allianz Commercial appoints Ben Church as head of broker distribution for Australia
The appointment comes after Sydney-based Church had assumed this role in an acting capacity six months ago.
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- November 15 2024
South Korea’s non-life insurance outlook stable on new regulations, strong P&C, motor results: AM Best
In terms of challenges faced by the segment, AM Best highlighted slower expansion of auto insurance owing to recent rate cuts and sluggish growth in motor vehicle registrations as a key factor.
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- November 14 2024
Envest acquires majority stake in Bendigo Insurance Brokers
The merger will add the broker to the network of Aviso Group and will bring the combined GWP up to US$616.4bn with the addition of the broker's US$13.3mn of gross written premium.
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- November 12 2024
Amit Ganorkar returns to Tata AIG as managing director and CEO
Ganorkar, who was previously the chief operating officer of the Indian insurer, takes over from Neelesh Garg, who resigned last month.
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- November 12 2024
AIG Korea takes Aon’s Han Bit Kim as financial lines underwriter
Seoul-based Kim was most recently manager for the broker focused on the dynamics of large complex insurance policies.
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- November 11 2024
China’s ZhongAn’s operating performance is subject to investment volatility, business risk: AM Best
The rating agency affirms financial strength rating of A- (excellent) and long-term issuer credit rating of “a-” (excellent) to the carrier with a stable outlook.
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- November 11 2024
RJC Insurance Brokers launches in New South Wales
The broker will be led by managing directors Russell and Julie Chegwyn and will place and manage covers for businesses in industries ranging from rail construction & maintenance to civil construction.
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- November 8 2024
Fitch downgrades Suncorp Group following banking exit, higher reinsurance retentions
The group’s main non-life arm AAI’s financial strength rating has been changed to A+ from AA-.
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- November 7 2024
Indian reinsurers shifting towards enhanced domestic capacity and innovation: J.B. Boda
Domestic carriers are seeking partners who can offer capacity, support growth, advanced analytics and broad-based expertise, said Rohit Boda.
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- November 6 2024
Xiaomi joins BNP Paribas, Volkswagen to enter Chinese non-life market
The country’s regulator has approved Beijing BNP Paribas Tianxing Property & Casualty Insurance as three-way JV between the smartphone maker's financial services arm, the French banking group and the carmaker's local lending arm.
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- November 1 2024
KB Insurance sees growth in capital and surplus: AM Best
The rating agency has affirmed the financial strength rating of A (excellent)for the South Korean carrier with a stable outlook.
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- November 1 2024
Tower CEO Blair Turnbull to step down
Turnbull will leave the Kiwi carrier on February 12, 2025, following its annual shareholder meeting.
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- November 1 2024
APAC reinsurers prioritise profit amid slower premium growth: AM Best
Asian reinsurers have restructured their retro programs, leading to adjustments in cat capacity and a reduction in cat exposure accumulation, says AM Best’s Christie Lee.
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- November 1 2024
APAC’s economic surge to drive global insurance market growth: Gallagher Re
The cyber insurance market in the Asia Pacific region is growing at an annual rate of about 50%, according to the broker's latest regional market watch.
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- October 28 2024
Marsh appoints Shahrezal Wan as placement manager
Singapore-based Wan was previously vice president, senior client underwriter with Swiss Re.
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- October 25 2024
Pacific rates drop 6% in Q3 driven by declines in finpro, cyber and property lines: Marsh
Finpro premiums was down 14%, while cyber cover saw a 11% disclose and property declined 6% as increased competition and capacity weighed on ratings.
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- October 24 2024
IAG on track to deliver FY 2025 guidance: CEO
The Australian carrier has guided an insurance margin of 13.5-15.5%, and GWP growth of ‘mid-to-high single digit' in the current financial year.
