Industry Segments: Solvency Page 1 / 4
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- November 12 2024
New Zealand central bank warns Quest Insurance over non-compliance
Quest has acknowledged and remedied the breaches of its obligations and is in the process of implementing further risk management measure, RBNZ said.
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- October 16 2024
Central Bank of India’s acquisition of stake in Generali JVs gets antitrust approval
The Competition Commission of India has cleared the state-owned lender's acquisition of 24.91% equity stake in Future Generali India and a 25.18% equity stake in Future Generali India Life.
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- October 16 2024
APAC business insolvencies projected to increase by 3% in 2024: Allianz Trade
A gradual easing of monetary policies could offer some relief, but it won’t be a silver bullet for struggling businesses.
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- August 22 2024
Central Bank of India wins bid for minority stake in Generali’s Indian JVs
The state-owned lender will acquire the stakes held by the insolvent Future Enterprises in the life and P&C businesses majority owned by the Italian insurance giant for a reported US$60.5m.
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- August 19 2024
Central Bank of India set to acquire stakes in Future Generali P&C and life units: report
This acquisition is part of the bank's strategy to expand its presence in the insurance sector. The stakes, to be bought from debt-laden Future Enterprises, is expected to be announced soon, according to the Economic Times.
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- July 15 2024
Trade credit insurers expect ‘harder’ market as insolvencies return to pre-Covid highs
A 'buyer’s market' prevails as claims have yet to exceed pre-pandemic levels. But rising geopolitical and trade tensions have boosted intra-Asia trade and insurance demand, with some carriers expanding investments in the region.
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- November 29 2023
Chinese non-life insurers’ investment risks manageble, focus on underwriting results: AM Best
Economic recovery and the recent relaxation of solvency-related investment rules support the sector’s “stable” outlook.
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- October 19 2023
Most Asian economies to see an increase in insolvencies: Allianz Trade
Countries set for the largest rises include South Korea, Japan, Australia and New Zealand, but Hong Kong is set to see a decrease in 2024.
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- August 28 2023
Indian government reneges on capital support to state-owned general insurers: report
The government last year provided US$600m in capital to National Insurance, Oriental Insurance and United India Insurance to meet regulatory solvency norms.
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- August 4 2023
Taiwan insurers face high capital pressure despite eased rules: Fitch
Certain new amendments under the new solvency framework will also ease the burden on local insurers.
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- May 20 2023
IRDAI relaxes surety bond rules
The regulator has reduced the solvency requirement and removed the 30% exposure ceiling.
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- April 11 2023
Taiwan regulator orders four insurers to raise capital or risk being taken over: report
Fubon, Tokio Marine Newa, Hotai and CTBC must restore their solvency levels by the end of June, or they would be taken over by the Financial Supervisory Commission within 90 days.
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- January 16 2023
S&P upgrades Lloyd’s rating on sound solvency, better performance
S&P expects 95% COR for 2022, taking into account the half-year COR of 91.4% and reserving of US$4bn for the war in Ukraine and Hurricane Ian.
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- December 9 2022
CBIRC to start on-site inspections and tighten oversight of fund use by insurers
Average solvency ratio of property insurance companies and reinsurance were adequate at 238.9% and 309.1%, respectively, according to the regulator.
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- December 2 2022
IRDAI’s liberalisation agenda raises risk of insurer failures
Wide-ranging reforms will ease the path to markets, but excess capacity could also lead to greater competition.
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- October 21 2022
Australian general insurers well capitalised despite monster flood: APRA
The industry maintained a coverage ratio of 1.7x the minimum requirement, the regulator’s annual report showed.
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- June 7 2022
Taiwan’s P&C capital levels under pressure from Covid claims
The situation shows the danger of underwriting policies for which there is inadequate data.
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- May 31 2022
Allianz GI China JV insufficiently capitalised for growth: Fitch
The firm's solvency ratio has fallen from 320% to 200%.
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- August 10 2021
Digit Insurance fundraise driven by solvency requirements, chair says
Founder Kamesh Goyal tells IAN the insurtech saw a 63% increase in GWP in Q1 2021.
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- August 9 2021
China set to squeeze insurers’ solvency
Phase II of C-Ross is expected to cut solvency ratios by at least 10 points.
