Industry Segments: P&C Page 24 / 47
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- March 8 2023
PIAM issues climate change warning amid serious Johor flooding
As severe flooding moves beyond the monsoon season, there is demand for a government-supported flood scheme through a public-private partnership.
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- March 8 2023
New Zealand P&C insurers staring at weaker earnings season: S&P Global
Kiwi's carriers have adequate capital buffers despite two Q1 mega weather events which will contribute to rising reinsurance costs.
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- March 6 2023
UOI appoints Andrew Lim chief executive, founders retire
Wee Cho Yaw and Hwang Soo Jin, who were the founders of the Singaporean carrier, will retire as directors on April 14, 2023.
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- March 1 2023
Nathaniel Simpson to step up as Youi’s new CEO
The chief product officer is taking on the role in July to replace Hugo Schreuder who is retiring.
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- February 28 2023
Opinion: Asia premium momentum paves way for strong 1.4, 1.7 renewals
2022 results and 1.1 renewals show there is still plenty of upside in Asia despite a myriad of challenges.
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- February 24 2023
Axa continues pivot from nat cat reinsurance
Axa XL's property cat premiums fell 36% in FY 2022, while the French giant saw Asia P&C profits rise 34% to US$109m.
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- February 23 2023
Tune Protect’s COR deteriorates to 107.6%, GWP increases 36%
In FY 2022, the Malaysian insurer recorded its highest gross written premium since 2013 at US$128m.
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- February 21 2023
Sunshine’s outlook brighter as Fitch upgrades over fresh capital, investments rejig
The Chinese carrier's P&C arm reported a better underwriting performance with a COR of 96% in H1 2022, down from 100% in H1 2021.
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- February 17 2023
Allianz’s Asia P&C net earned premium grows 30%, COR up at 98.1%
Group COR increased to 94.2% primarily due to higher attritional losses related to normalisation of claims frequency and claims inflation.
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- February 13 2023
IAG’s H1 2023 combined ratio increases to 93.7%
Group GWP grew 7.5% on rate increases but underwriting profit was down 10% year-on-year.
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- February 10 2023
Australia’s Open in exclusive talks to acquire Saga underwriting unit
Gibraltar-based Acromas is a personal lines underwriter for Saga and AA Insurance.
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- February 10 2023
Zurich APAC COR improves to 91.7% as P&C GWP jumps 18%
APAC premiums grew to US$3.47bn in FY 2022 as the region saw a strong travel insurance recovery.
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- February 8 2023
Light at end of tunnel for Taiwan’s Covid blues
P&C carriers paid out US$7bn in 2022, however, the expiration of policies in June could be a turning point for the market.
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- February 8 2023
Japan’s hardening markets force cedents to review reinsurance plans: S&P
The consolidated net income of Tokio Marine, MS&AD, and Sompo will decrease year on year in FY 2022.
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- February 7 2023
WTW appoints Nicky Eveleigh as New Zealand P&C leader
Based in Auckland, Eveleigh reports to the broker's country leader Michael Brown.
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- February 6 2023
AM Best downgrades Fubon Insurance’s credit rating as Covid losses mount
The Taiwan P&C carrier's rating has been changed to “A” (excellent) from “A+” and is under review with negative implications.
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- February 3 2023
India budget snub a wake up call for United India, Oriental and National
Market experts suggest the decision not to allocate any more capital is part of a plan to merge the P&C players with LIC.
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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.
