Industry Segments: Property & Casualty Page 2 / 15
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- February 20 2025
Chubb Malaysia appoints ex-Olympian Danil Bugakov as P&C head
Bugakov, who represented Uzbekistan at the Athens and Beijing Olympic Games, joins having spent over 11 and a half years with Hannover Re.
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- February 14 2025
Tokio Marine’s international P&C profit up 14.2% to US$2.2bn in Q3 FY24
Strong underwriting performance in key international entities and increases in investment income in North America contributed to the growth.
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- February 14 2025
Sompo’s domestic P&C falls 39% in adjusted profit to US$299m in Q3 FY24
Drop attributed to a rise in accident rates and unit repair costs in motor and the impact of increased company expenses due to upfront investment, offset by base profit improvement in fire.
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- February 14 2025
Samsung Life seeks regulatory nod to incorporate group P&C arm as subsidiary: reports
Insurer approaches Financial Services Commission over a potential incorporation of Samsung Fire & Marine Insurance, according to the Korea JoongAng Daily.
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- February 14 2025
Commercial rates harden in Taiwan, Japan while rest of Asia declines: Marsh
Composite insurance rates in Asia continued a downward trend, declining by 3% in the fourth quarter of 2024, marginally higher than the global average.
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- February 7 2025
LA wildfires unlikely to impact APAC (re)insurers due to ‘limited’ exposure: Fitch
Rating agency expects insured losses from the wildfires to significantly exceed previous records, with industry estimates ranging from US$35-50bn.
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- February 5 2025
Asia insurance rates decline 3% in Q4 2024, driven by cyber and finpro lines: Marsh
Cyber rates drop by 11%, while finpro falls 9%, both extending the previous quarterly declines in 2024, according to the latest Global Insurance Market Index by the broker.
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- February 5 2025
Pacific rates suffer largest drop in Q4 2024, driven by finpro, cyber and property lines: Marsh
Finpro premiums fell by 12%, while cyber and property declined by 8%, according to the Global Insurance Market Index.
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- February 3 2025
Great American elevates Vanessa Teo to deputy CEO of Singapore branch
Teo, most recently chief financial and operating officer, will continue to oversee finance and operations of the carrier's only Asian office, while also taking on broader strategic responsibilities.
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- January 23 2025
Tower names Paul Johnston as interim CEO
Johnston, who was most recently CFO for the New Zealand carrier, will succeed incumbent CEO Blair Turnbull effective from February 13.
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- January 3 2025
APAC 1.1 renewal dynamics tilt towards buyers: Gallagher Re’s Mark O’Brien
Reinsurers looking to write more and cedents holding limits or buying less drove down prices, said the broker's regional head.
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- December 30 2024
China’s PICC P&C announces continuation of deals with PICC Reinsurance, PICC HK
Reinsurance agreements include treaty and facultative reinsurance, covering all lines of property and casualty insurance risks.
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- December 20 2024
China Taiping promotes Yin Zhaojun to chairman
Yin, who was previously vice chairman, executive director and general manager, succeeds incumbent Wang Sidong who will retire.
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- December 12 2024
Rising personal lines prices help stabilise global P&C sector: Moody’s
Pricing in China is unlikely to meaningfully improve, especially in motor, due to directives designed to reduce financial pressure on policyholders as well as mispricing risk for EVs.
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- December 6 2024
Vietnam’s Petrolimex Insurance could see volatility ahead over Yagi losses: AM Best
AM Best has affirmed an insurer rating of B++ (good) with a stable outlook to PJICO.
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- December 4 2024
Despite challenges, Asia Pacific non-life insurers to benefit from rate hikes, costs control: Fitch
The rating agency has assigned a neutral outlook for the Asia Pacific insurance sector.
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- December 2 2024
Thermal runaway, manufacturing defects the most overlooked risks for lithium-ion batteries: QBE
Businesses should work with relevant stakeholders to mitigate disruption risks through robust supply chain management and compliance strategies, the carrier said in the latest report.
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- November 27 2024
Miller hires ex-UIB Konatsu Watanabe to strengthen Singapore P&C team
Watanabe brings valuable experience in areas such as facultative placements with a particular focus on Japanese business across Asia, according to the broker.
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- November 1 2024
Market’s willingness to deploy capacity is certainly back: Gallagher Re
Gallagher Re’s Mark O’Brien says negotiations around retentions, and terms and conditions to be a little easier in the coming renewals.
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- October 25 2024
Pacific rates drop 6% in Q3 driven by declines in finpro, cyber and property lines: Marsh
Finpro premiums was down 14%, while cyber cover saw a 11% disclose and property declined 6% as increased competition and capacity weighed on ratings.
