Industry Segments: P&C Page 28 / 72
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- November 24 2023
Reinsurance rates to moderate during January renewals: Fitch
Insured natural catastrophe claims are likely to exceed US$100bn again in 2023 but global reinsurers have been far less affected than in 2022.
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- November 23 2023
Meritz Fire & Marine Insurance appoints new CEO amid leadership reshuffle
Kim Joong Hyun has been appointed chief executive of the Korean carrier while the incumbent CEO Kim Yong Beom steps down to oversee the group’s overall financing.
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- November 22 2023
AIG veteran Tomi Latva-Kiskola to head Everest Insurance Asia
Swee Keong Mah, current interim head for Asia, has been appointed as chief executive officer, Everest Insurance Singapore.
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- November 22 2023
Cyber threats biggest worry for APAC enterprises: Aon risk survey
Only two of the top five current risks in the Asia Pacific are insurable and half of the overall top 10 are uninsurable at present.
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- November 22 2023
IAG Australia hires Liberty’s Ashley Leszczuk as lead liability underwriter
Sydney-based Leszczuk will start his new role on November 27.
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- November 22 2023
Chubb Australia names Andrew Whitlock as senior casualty underwriter for major accounts
Whitlock, who was most recently senior casualty underwriter for corporate and construction at Chubb's London office, will relocate to Sydney to assume his new role.
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- November 21 2023
Malaysian Re reports US$23.8m net profit in H1 FY 2024
The Asean reinsurer returned to profit in the first six months of the financial year on the back of higher insurance service results and investment gains.
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- November 20 2023
Kiwi carrier Tower exits commercial farm insurance
Commercial rural clients will be referred to AonAgri from February 1 as the carrier focuses on its direct personal and small business lines.
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- November 20 2023
Vietnam connects to Asean compulsory motor insurance system
Bao Viet Insurance is the only Vietnamese carrier approved to issue blue cards that prove that a vehicle has third-party liability cover to be used across Asean borders.
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- November 20 2023
Japan’s big three script domestic underwriting rebound
Rate increases, absence of Covid-19, large nat cat losses and increased investment income help Tokio Marine, MS&AD and Sompo improve their earnings in the first half of FY 2023.
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- November 17 2023
Oneglobal Broking appoints Joey Lim as Singapore P&C head
Lim, who starts on November 17, joins from Marsh and will lead the broker's corporate team in the Lion City.
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- November 17 2023
Malaysia’s MAA Group to sell 85% stake in Filipino subsidiary
The group will sell its share in MAA General Assurance Philippines to Triple P Philippines for US$49.3m with an option to sell the remaining 15% stake for US$8.7m within 14 months.
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- November 17 2023
Cover-More global CEO Cara Morton to run Zurich Global Ventures
Sydney-based Morton will relocate to Zurich and start in her new role on February 1, 2024 and will report directly to Zurich Insurance Group CEO Mario Greco.
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- November 16 2023
New South Wales’ emergency services levy reform to lower insurance costs
The abolition of the levy on insurance is expected to lower the cost of home cover by up to 15% on average, and for business cover by around 23%, according to the ICA.
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- November 14 2023
ICA panel to review general insurance code
The three-person panel led by former APRA deputy chair will complete the review in two phases deliver its findings by June 30, 2025.
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- November 14 2023
Kiwi carriers resilient despite record cat claims: AM Best
Solid premium growth on rate hikes and capital buffers afford a stable outlook for the industry, according to the rating agency.
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- November 13 2023
Peak Re to improve underwriting profitability in the next 12-18 months: Moody’s
The rating agency has affirmed its Baa1 rating taking into account the company’s a3 standalone credit profile, solid capitalisation, expanding product and geographic diversification and liquid investment portfolio.
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- November 10 2023
ZhongAn Online P&C to benefit from ability to integrate tech innovation into insurance operations: AM Best
The rating agency has affirmed the Chinese online-only insurer an A- (excellent) rating with a stable outlook taking into account its very strong balance sheet.
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- November 10 2023
Marine war premiums climb after fatal strike on Philippines-owned bulk carrier: report
Premiums have risen to 3% of the value of the vessel from around 1% before the attack on the vessel, which was insured for US$15m and damages seen at US$4m without liabilities for the crew, the report said.
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- November 10 2023
QBE Asia hands Cynthia Huang additional charge as Taiwan desk lead
Hong Kong-based Huang, who is also the head of financial lines for the carrier, will be responsible for distribution and business development.
