Industry Segments: P&C Page 4 / 28
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- April 16 2023
Zhongyuan Agricultural Insurance scripts COR turnaround
The Chinese carrier, which was rated A- (strong) with a stable outlook by Fitch, posted a 90% combined ratio last year compared with 104% in 2021.
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- April 14 2023
Tugu Insurance (Hong Kong) continues diversification push: AM Best
After years of 'unstable' underwriting results, the Indonesian-owned insurer has moved away from construction employees’ compensation to focus on lines such as a goods in transit.
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- April 7 2023
China’s Allianz Jingdong downgraded on poor COR, weakened capitalisation
The Guangzhou-headquartered general insurer's combined ratio rose to 104% in Q3 2022, from 99% in Q3 2021, said Fitch.
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- April 6 2023
China reopening to boost Asia’s P&C markets
With inbound and outbound connectivity resumed, a spurt in tourism across the region offers hope for insurers.
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- March 31 2023
Marsh veteran Ramon Zandueta joins Oona Philippines as CEO
Marsh Philippines chairman since 2021, Zandueta will spearhead take charge at the Filipino general insurer on May 1.
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- March 31 2023
Bolttech ties up with Tune Protect for digital devices cover in Malaysia
The insurer will underwrite protection for cracked screens, accidental and liquid damage for mobiles and the insurtech will provide device support services.
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- March 31 2023
Chaucer results bolster China Re amid difficult year
The Lloyd's specialty player's COR at 92.99% in FY 2022 while the group's P&C reinsurance arm saw profits fall 55.5%.
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- March 30 2023
Peak Re fell to a US$79.8m loss in FY 2022
The Hong Kong-headquartered reinsurer reported GWP of US$2.295bn up from US$2.145bn in FY 2021.
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- March 30 2023
China Taiping’s domestic P&C COR improves to 99.5%; Taiping Re’s at 102.6%
The insurance group's overseas P&C business saw a net profit gain of 589%, while its reinsurance arm's net profit grew 538%.
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- March 29 2023
Australian brokers placed US$12.4bn premium in second half of 2022: APRA
The figure was a 7.6% increase over the same period in 2021 and included US$1.6bn with Lloyd's.
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- March 28 2023
Chubb signs 15-year GI bancassurance deal with Hang Seng Bank
The new partnership, which replaces an agreement with QBE, will launch in July.
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- March 28 2023
PICC P&C underwriting profit jumps 579%, COR improves to 97.6%
The Beijing-headquartered insurer's GWP grew to US$71bn with non-motor lines growing 11.4% year-on-year.
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- March 28 2023
NSW’s new government urged to bin premium levy
Dropping the emergency service levy, which adds an 18% surcharge to home insurance and 40% to business premiums in the state, will lower insurance costs.
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- March 27 2023
India renewals to see prices climb 10-35%
The market is likely to see property, fire and marine premiums correcting as negotiations hit their final week.
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- March 24 2023
China Taiping’s Macau P&C arm could see 71% COR ‘normalise’ this year: AM Best
The economy in the gambling mecca is showing signs of recovery from the pandemic with tourists returning.
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- March 23 2023
Japanese shipper seeks sovereign guarantee for war-risk vessels: report
NYK Line has asked the government to consider offering support similar to a 2012 bill that benefited tanker owners transporting Iranian oil amid European Union sanctions.
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- March 23 2023
Youi names Laura Wood as head of reinsurance
Laura to join Youi from Swiss Re and will replace Piers Maunder on April 17.
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- March 20 2023
Indian property cover rates to go up as carriers start claim-based pricing: report
The revision follows an IRDAI directive that rates published by the insurance information bureau need not be treated as a minimum rate.
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- March 16 2023
Ping An P&C combined ratio rises to 100.3% in 2022
The Chinese carrier saw premium income grow 10.4% year on year to US$43bn.
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- March 16 2023
PetSure gets general insurance licence in Australia
The pet health company already had an underwriting agency which provides pet cover.
