Industry Segments: P&C Page 26 / 56
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- July 11 2023
Meritz Korindo’s rating affirmed by Fitch despite low retention ratio
The rating agency has affirmed the Indonesian carrier's A+ rating and says there is sufficient capitalisation to offset the company's volatile underwriting performance.
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- July 10 2023
Allianz Commercial hires AIG veteran Christian Sandric, Mark Mitchell set to leave
Sandric is joining on September 1 as managing director for Asia, with Mitchell, AGCS Asia managing director, leaving the group.
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- July 10 2023
India to keep 4% obligatory cession for GIC Re: report
Under the right to first refusal, GIC Re has the first right to choose the reinsurance business from the general insurers and then it can be placed with other reinsurers.
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- July 10 2023
Hanwha’s ratings affirmed as capital pressures ease due to IFRS 17 and KI-ICS: AM Best
The negative impact of Carrot on the carrier's consolidated results will decrease gradually as the digital insurer continues to build economies of scale.
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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 7 2023
China’s carriers betting on state-led infrastructure boom
The government continues to invest in railways, airports, ports and energy generation amid a slowdown in the property market.
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- July 6 2023
NZIA does away with emission targets for insurers
The UN said the protocol would now be "a voluntary best practice guide" for helping build and compare decarbonisation targets.
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- July 6 2023
Hong Kong passes insurance amendment bill to implement RBC regime
Insurance Authority will begin drafting detailed guidelines and requirements for the new regime, which is targeted for implementation in 2024.
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- July 5 2023
Allianz Commercial Australia elevates Alison Brough as general manager-agencies
Sydney-based Brough was most recently head of underwriting services for the country, transitioning the commercial underwriting services team as part of the group restructuring.
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- July 4 2023
Suncorp drops aggregate cover, increases retentions and pays more at 1.7 renewals
The combined cost of the FY 2024 catastrophe reinsurance premiums and the natural hazard allowance is expected to increase by approximately A$250m or 12% from FY 2023.
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- July 4 2023
Tower continues Pacific restructuring with sale of Solomon Islands unit
Trans Pacific Assurance, which acquired the business, will retain the Kiwi carrier's staff and aims to complete the deal in 2023.
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- July 4 2023
Talanx-backed Roojai buys bolttech’s Thai non-life carrier
With the acquisition of FWD General Insurance, the Thailand-based insurtech becomes a full-stack player.
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- July 3 2023
Generali promotes Blake Sowerby to head of special projects, finance – international
Hong Kong-based Sowerby will lead finance projects across Asia, Central and Eastern Europe, Mediterranean and Latin America for the Italian insurer.
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- July 3 2023
IAG-backed CGU and ANZ enter bancassurance deal
The partnership will see the personal lines insurer underwrite home, landlord and motor insurance products for the bank's retail customers.
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- June 30 2023
Aviso Broking promotes Paul McLean to chief distribution officer
McLean (pictured) was elevated in a recent management restructuring programme that formed a new executive team, following the Ardonagh buyout.
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- June 30 2023
Inver Re plots course for expansion of index products in APAC
The region’s cyber, marine and specialty will form a core market for the placement and structuring of ILW offerings, says Tom Johansmeyer.
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- June 30 2023
Korea’s Woori, Kyobo may join bid for MG Non-Life acquisition: report
The troubled carrier's private equity backer is likely to start the sale process after July 6, when a ruling on an ongoing trial against the industry regulator is expected.
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- June 29 2023
OneDegree raises US$27m in additional Series B fundraise
The virtual insurer, which claims it is on track to achieving profitability by end-2024, will use the proceeds to grow its digital assets business and insurtech offerings globally.
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- June 28 2023
Everest Insurance hires Marsh veteran to head APAC
Sydney-based Scott Leney will oversee business strategy and portfolios both in Asia and the Pacific and report to Everest Insurance International co-heads Adam Clifford and Jason Keen.
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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.
