Industry Segments: Results Page 7 / 22
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- March 7 2023
Analytics: Underwriting gains spur Australian carriers stung by investment losses
Rate increases helped non-life underwriting profit grow 69.4% in 2022 despite higher claims.
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- March 2 2023
Scor’s combined ratio deteriorates to 113.2%, GWP climbs 4.9% to US$21bn
The French reinsurer's 2023 estimated gross premium income from Asian emerging markets is down to 10% from 12% last year.
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- February 28 2023
Tower’s reinstatement talks in progress for two more nat cat events
While the Auckland floods cost will be covered by reinsurance, Gabrielle claims are also likely to trigger the Kiwi carrier's cat reinsurance cover with an excess of US$7.3m.
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- February 28 2023
Opinion: Asia premium momentum paves way for strong 1.4, 1.7 renewals
2022 results and 1.1 renewals show there is still plenty of upside in Asia despite a myriad of challenges.
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- February 24 2023
Axa continues pivot from nat cat reinsurance
Axa XL's property cat premiums fell 36% in FY 2022, while the French giant saw Asia P&C profits rise 34% to US$109m.
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- February 23 2023
Hyundai Insurance’s premiums grow 5.8% to US$12.6bn
The Korean carrier's commercial arm's COR for FY 2022 was at 89.2%.
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- February 23 2023
Tune Protect’s COR deteriorates to 107.6%, GWP increases 36%
In FY 2022, the Malaysian insurer recorded its highest gross written premium since 2013 at US$128m.
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- February 22 2023
Steadfast sees 27.2% revenue growth in H1 as GWP climbs 14.7%
The Sydney broking group is on target to complete US$150m of trapped capital acquisitions this fiscal year.
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- February 22 2023
AUB’s H1 net profit falls on acquisition costs, but underlying earnings rise strongly
CEO Michael Emmett said Tysers was outperforming expectations with underlying net profit of US$12.3m in three months.
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- February 22 2023
PSC bolsters H1 top line by 15%, ups FY profit guidance
The Melbourne broker benefited from recent acquisitions, including in Hong Kong, and 9% organic growth, as it registered net profit of US$14.7m.
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- February 22 2023
Hong Kong’s Nova Insurance sees 20.7% revenue growth in first half
The broker's revenue climbed to US$7.8m, helped by an increase in professional indemnity and trade credit lines.
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- February 21 2023
Samsung Fire & Marine P&C underwriting profits dive 95% to US$3m
The group, including motor and long-term businesses, posted a COR of 102.2% in FY 2022 at an underwriting loss of US$315m.
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- February 20 2023
Swiss Re’s 1.1 Asia renewals grow 35%
The global reinsurer benefited from the expansion of property and motor lines in the region, in addition to rate increases.
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- February 17 2023
Allianz’s Asia P&C net earned premium grows 30%, COR up at 98.1%
Group COR increased to 94.2% primarily due to higher attritional losses related to normalisation of claims frequency and claims inflation.
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- February 17 2023
Swiss Re’s P&C Re COR slips to 102.4%, group sees 67% profit fall to US$472m
In FY 2022, the Swiss global carrier was hit by high inflation and large nat cats, including floods in Australia, but saw strong 1.1 2023 renewals.
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- February 17 2023
QBE 2022 COR improves to 93.7%; reinsurance expenses climb 34%
The global carrier's underwriting profit was up 34% to US$933m, while its GWP grew to US$20bn.
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- February 17 2023
Tower ups large event allowance by 33%, expects Gabrielle to trigger reinsurance
The storm is the second event in weeks set to breach the insurer's cat excess of US$7.4m leading to Tower to downgrade its profit guidance.
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- February 17 2023
AUB upgrades profit guidance as Tysers performs ‘ahead of expectations’
The broker expects US$32.3m of profit for H1 2023, which is 8.5% above the mid-point of the guidance.
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- February 15 2023
Covid, nat cat woes continue at Japan’s ‘big three’
Net profits at Tokio Marine fell 27.4%, with Sompo Holdings declining 79.5% and MS&AD dropping 57% for the first nine months of FY 2022.
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- February 13 2023
IAG’s H1 2023 combined ratio increases to 93.7%
Group GWP grew 7.5% on rate increases but underwriting profit was down 10% year-on-year.
