Line of business: Casualty Page 3 / 6
-
- April 25 2024
Asia commercial insurance rates decline 2% in Q1: Marsh
Property, casuaty, finpro and cyber rates fell in the first quarter the year in Asia, while in the Pacific, property stabilised while casualty premiums continued to grow for the fourth consecutive quarter, albeit at a slower clip.
-
- April 25 2024
South Korea mandates liability cover under new data, crypto regulations: Korean Re
The market, which was hit by US$555m in summer rainfall losses last year, is set to benefit from compulsory insurance norms and the local players will also see easing of overseas expansion regulations, a report by the reinsurer says.
-
- April 16 2024
Markel appoints Priyanka Gautama as chief underwriting officer for India
Mumbai-based Gautama will focus on developing a new casualty portfolio for the Lloyd's carrier in India.
-
- April 15 2024
Arch Insurance Australia appoints Carmen Tung as Southern region underwriting manager, casualty
Melbourne-based Tung's appointment follows the promotion of Chris Wild to Northern region underwriting manager, property.
-
- April 9 2024
April 1 renewals point to signs of reinsurance market peaking
The orderly 1.4 renewals saw a revival in property cat appetite, and modest reductions in rates and easing of conditions, though retentions remain high and per risk and US casualty continue to be hard to place.
-
- April 2 2024
Swiss Re CorSo elevates Stephanie Wong as South-East Asia head of casualty and finpro
Singapore-based Wong was earlier a senior casualty underwriter and vice-president at the insurer.
-
- March 22 2024
Exclusive: Hyundai Insurance and Korea P&I Club on hook after Keoyoung Sun tanker sinks off Japan coast
A total hull loss is expected for the vessel insured at U$S2.25 million and there is no estimate for the cargo loss yet, industry sources say.
-
- March 12 2024
Asia Pacific market increasingly bifurcated in Q4 2023: Aon
While nat cat exposed areas were hardening, financial Lines and mid-market property programs retained in domestic insurance markets were soft.
-
- February 26 2024
Allianz Asia Pacific’s property & casualty FY2023 operating profit up 26%
P&C contributed about one-fifth of the global insurer’s operating profit from the region, where operating profit rose 33%.
-
- February 23 2024
Tatler’s Messi fiasco flags up need for celebrity cover
Sources tell IAN that the organiser, now hit with a hefty refund bill, is unlikely to have purchased non-appearance cover because of the high cost and stricter conditions imposed by capacity suppliers.
-
- February 19 2024
Axa XL appoints AIG’s Chris Cheng as Hong Kong head of casualty
Cheng will be responsible for developing casualty portfolio across Hong Kong, China and Macau.
-
- February 13 2024
FSA orders Japan big four carriers to step up cross-holdings divestment: report
The four major non-life players at the centre of the price-fixing scandal must speed up unwinding their cross-shareholdings as the regulator tightens it scrutiny, Nikkei Asia reported.
-
- February 9 2024
New Zealand bans ‘forever chemicals’ in cosmetic products from 2027
The decision puts the spotlight on exclusions to claims from exposure to PFAS, which as IAN reported recently has yet to find many takers in Asia Pacific.
-
- February 8 2024
Chubb elevates Christina Wong to Asia CUO for casualty
Hong Kong-based Wong was most recently casualty manager, Greater China.
-
- February 6 2024
Berkley Re names treaty manager for Australia & New Zealand
Sydney-based Heath Sinclaire will enhance the firm's relationships with cedents and brokers, focusing on the casualty reinsurance sector.
-
- February 6 2024
Asia’s casualty, financial & professional rates see quarterly drop in 4Q 2023: Marsh
Commercial and cyber insurance rates were flat in Asia as insurers' competition heated up, while property rates edged up 2%.
-
- January 31 2024
Asian casualty rates softening but underwriters wary of spike in claims
Though capacity remains abundant for liability lines in the region, carriers remain cautious over rising claims costs and knock-on effects from US and Australian markets.
-
- January 23 2024
PFAS exclusions find few takers in Asia’s competitive landscape
(Re)insurers in the region have been cautious about including clauses related to these 'forever chemicals' as clients push back in a market that is ready to absorb the exposure.
-
- January 19 2024
Minority shareholder in Chubb-backed Huatai Insurance puts US$34m stake up for sale
The seller Lucky Film, an affiliate of state-owned space contractor China Aerospace Science and Tech Corp, will auction its shares on the Beijing exchange.
-
- January 9 2024
Australian casualty market primed for capacity injection
The country is "crying out for liability specialists" and growth is here for the taking for those built to deal with market cycles and do not exit casualty risks.
