Industry Segments: P&C Page 7 / 56
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- June 24 2024
Income Insurance on S&P CreditWatch negative on potential government support dilution
The CreditWatch followed news that the Singapore government-backed insurer is in talks with Allianz for a stake sale.
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- June 24 2024
Steadfast promotes Nick Cook and hires Swiss Re veteran Mark Senkevics
The senior management rejig at the Australian broker gives Cook a broader role across Australasian networks, broker and insurer services, as it brings in Senkevics to oversee MGAs, reinsurance and life. It also names new heads of operations and IT.
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- June 20 2024
Girija Subramanian takes over as New India Assurance chairperson and managing director
She was formerly the CMD of Agriculture Insurance Company of India.
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- June 20 2024
Japanese carriers walk a thin line on ESG underwriting: Fitch
While the major non-life insurers have incorporated sustainability considerartions, they may face pressure from foreign investors who consider them inconsistent with global environmental standards.
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- June 19 2024
QBE to wind down North American middle-market business
The shuttering of the underperforming unit will not affect core specialty, crop and commercial business, the Australian carrier said.
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- June 19 2024
QBE elevates Jeremy Lau to Asia chief underwriting officer
Hong Kong-based Lau will report to Asia chief executive Robert Kosova and the carrier’s international chief underwriting office Nick Hankin.
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- June 17 2024
Australian P&C insurers to see slower premium growth: S&P Global
Despite lower premium growth on the back of moderating premium rate increases, profitability should remain strong this year through to 2025.
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- June 17 2024
ICA calls for overhaul in financial hardship support, redefine ‘vulnerability’
In its submission to the General Insurance Code of Practice review, the Insurance Council of Australia is calling for changes on how hardship support, such as premium relief, should be extended.
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- June 17 2024
Allianz Korea elevates Jin Kim to head of natural resources and construction
Seoul-based Kim has been at the German insurance group for five years as a senior property underwriter.
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- June 17 2024
Japan’s big four submits business improvement plans to FSA for price-fixing
- Legal/Regulatory
- Japan
- Aioi Nissay Dowa Insurance
- Mitsui Sumitomo Insurance
- MS&AD
- Sompo
- Tokio Marine & Nichido Fire
Assessment of risks, employee surveys, effectiveness verification, second-line monitoring and internal audits are among the solutions announced by MS&AD subsidiaries.
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- June 13 2024
KFINCO vulnerable to cyclical construction sector, economy: Fitch
The ratings agency affirmed Korea Finance for Construction Insurance's financial strength rating at 'A' (strong), with a stable outlook.
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- June 11 2024
Starr Insurance names Coface’s Jun Minorikawa as Japan CEO
Tokyo-based Minorikawa takes over from Ryohei Nakazawa, who left Starr earlier this year to join broker WTW as head of Japan.
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- June 10 2024
Global reinsurance outlook upgraded to “positive” on strong profit margins: AM Best
Global reinsurers' strong underwriting margins and return-on-equity enable them to absorb large losses seen in the first quarter 2024, as the sector outlook improved from "stable" to "positive".
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- June 10 2024
Miller eyes Japan non-marine buildout with senior hire
The specialist broker has appointed Tokinori Kono as head of non-marine broking at its Japanese unit, Lead Insurance.
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- June 10 2024
Bolttech Hong Kong sees service results improve on lower expenses, reserve release: Fitch
The rating agency affirmed the Hong Kong general insurer's BBB+ (good) rating with a stable outlook.
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- June 5 2024
Fairfax names Gobinath Athappan as Asia chairman and chief executive
Athappan, who has been the insurance investment company's vice-chairman since 2015, is also set to take over as chairman of Fairfax-owned Singapore Re.
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- June 4 2024
Hans Vranken takes over as Axa Korea CEO
Vranken has over 18 years of experience in financial services and insurance industry across Madrid, Tokyo, Belgium under Axa Group.
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- June 4 2024
AI key to exposure management, risk assessment beyond covered perils: CCR Re
Technologies such as natural language processing, machine learning are transforming how the global reinsurer assesses risks, predicts claims and prepares for climate change, says CRO & actuary Jérôme Isenbart.
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- June 3 2024
New South Wales customers bear financial burden of emergency levy: ICA
ESL design disproportionately burdens those who are least able to afford it and does not fairly reflect the potential need for emergency services, the industry group says.
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- May 31 2024
Hong Kong 2024 Q1 P&C underwriting profit doubles to US$132m
The improvement came despite the sector’s total gross claims rising 12.1% as insurers in the city benefited from the release of prior-year reserves, the Hong Kong Insurance Authority said.
