Industry Segments: P&C Page 29 / 56
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- May 31 2023
Hong Kong P&C underwriting profit tumbles 52% in Q1 2023: HKIA
General insurance gross premiums grew 7% year-on-year driven by a 12.7% growth in reinsurance business.
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- May 31 2023
AIG exits Pakistan, sells business to TPL Insurance
The scheme of arrangement has a December 31 deadline for transaction completion.
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- May 30 2023
China’s SDIC to sell its 20% stake in Jintai Insurance: report
The state-owned investor, which is the second-largest shareholder of the Chengdu-based general insurer, has set a US$7.5m base price for the stake.
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- May 30 2023
Catholic Church Insurance in Australia enters run-off
CCI has been operating since 1911 and says it "has sufficient assets to meet its commitments as they currently stand" as reports suggest historical abuse claims are the reason for closure.
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- May 29 2023
Swiss Re CorSo sees growth in APAC through ‘bespoke offerings’
While the carrier is looking to grow its Japan, South-East Asia footprint, it has a 'big focus' on its parametric and global programmes offerings.
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- May 29 2023
Fitch Ratings downgrades Guoren P&C over risky assets, leverage
Guoren P&C’s insurer rating has been downgraded to BBB+ from A- with a stable outlook.
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- May 25 2023
Singapore insurers report 58% dip in 2022 profits despite premium growth: MTI
The 2022 economic survey noted that general insurers in the Lion City reported a 9.7% growth in GWP while the overall finance and insurance sector in the country shrank by 0.9%.
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- May 25 2023
Axa XL hires Nicholas Strong as senior casualty underwriter
Sydney-based Strong joins from CGU Insurance, where he held a similar role.
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- May 24 2023
Reliance General Insurance promotes Namita Rohra to liability, credit and specialty head
Mumbai-based Namita Rohra was earlier segment head liability for cyber and specialty lines in Reliance General.
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- May 24 2023
Manila Central Post Office insured for US$11m with state-owned GSIS
The Government Service Insurance System (GSIS) will provide a loan to reconstruct the important building damaged in a fire on May 21.
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- May 23 2023
Uplift in consumer sentiment helps APAC carriers combat reinsurance costs, inflation: Fitch
Primary insurers have been able to pass on higher premium rates to customers, even double-digit hikes in places like Australia, without affecting business retention.
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- May 23 2023
Axa XL looks to tap into Asia corporate mindset shift
The French (re)insurer sees huge potential in the region with eight Asian markets expected to grow 11% per year from 2021 to 2025.
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- May 23 2023
Zurich Hong Kong appoints David Chiu as chief claims officer
A Zurich veteran for the past 10 years, Chiu has held several leadership roles in the Hong Kong claims team.
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- May 22 2023
Fubon Insurance reports US$140m loss for Q1 2023
The Taiwanese P&C player says it has raised US$523m and that its current capital position exceeds legal regulatory requirements.
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- May 22 2023
Japan’s big 3 count on overseas recovery as domestic results take nat cat hit
Tokio Marine, MS&AD and Sompo expect a revival in international units to drive FY 2023 performance.
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- May 19 2023
Sompo Japan COR deteriorates to 100.9% in FY 2022
Sompo International improves underwriting profit by 25% over last year despite US$553m of nat cat losses.
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- May 19 2023
MS&AD’s Japan non-life units fall to US$110m underwriting loss
The Tokyo-headquartered giant saw local cat losses increase 104% year-on-year at its two domestic P&C players, while MS Amlin returned an underwriting profit of US$78m.
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- May 19 2023
Tokio Marine books US$760m FY 2022 Covid losses from Taiwan
The group also saw losses of US$570m from two typhoons and a huge hailstorm in Japan, as overall FY 2022 profit climbed 1.7% to US$2.72bn.
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- May 19 2023
Sony to spin off financial services arm housing its insurance businesses: report
Sony Financial Holdings, to be listed on the Tokyo Stock Exchange, owns the P&C business Sony Assurance and life carrier Sony Life.
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- May 19 2023
Stewart Mirah joins HDI Global as senior underwriter
Brisbane-based Stewart will establish the specialty carrier's motor fleet portfolio in Queensland.
