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- August 9 2024
Malayan Insurance’s underwriting to benefit from portfolio measures, retail growth: AM Best
The rating agency has affirmed its “B++” financial strength rating and “stable” outlook on the Philippines' non-life insurer.
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- August 9 2024
QBE doubles H1 net profit, COR improves 5 percentage points to 93.8%
The insurer's GWP grew 2% to US$13bn for the period, while its underwriting performance benefitted from lower cat claims, stable prior-year reserve development and rate increases.
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- August 9 2024
Tower upgrades FY 2024 NPAT guidance to US$27m
The updated guidance assumes full utilisation of the FY 2024 large events allowance, which is set at US$27m.
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- August 8 2024
Asia’s buyer-friendly market to stay as pricing remains flat in Q2: Aon
US-related and nat cat-exposed property risks remained challenging across most markets in the region, although Hong Kong and China stood out with modest price reductions, the broker said in its Q2 market insights report.
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- August 6 2024
MAS defends Allianz’s US$1.6bn cash offer for Income Insurance: report
The regulator's incoming deputy chairman Chee Hong Tat said during a parliamentary session that the central bank was satisfied with the process around the deal and that the potential deal won't adversely impact competition.
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- August 6 2024
Zurich Hong Kong elevates Lena Liu to head of middle market, commercial insurance
Liu, who has been with the carrier for more than 14 years, was most recently head of operations, international programs and captives.
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- August 2 2024
United Overseas Insurance’s balance sheet strength to remain at strongest level: AM Best
AM Best has affirmed its financial strength rating of "A+" (superior) with a "stable" outlook.
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- August 2 2024
China United Property Insurance removed from negative rating watch, downgraded: Fitch
The rating action is due to potential reduction in support from parent China Orient Asset Management and the insurer's weakening capital strength, the rating agency said.
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- August 1 2024
Fitch reviews Suncorp’s negative rating watch on impact from bank sale
The completed bank sale will allow Suncorp Group to focus on its core non-life insurance operation and support the insurer’s business profile over time.
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- August 1 2024
Axa Philippines elevates Ayman Kandil to CEO and president
Kandil, who was chief distribution officer for the carrier in Manila, will take on the new role in October replacing Bernardo Serrano, who will be transitioning to a new role within the group by end-September.
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- July 29 2024
Tune Protect CFO How Kim Lian to succeed Rohit Nambiar as group CEO
The Malaysian general insurer has also hired Pacific Insurance's Teoh Kek Pin as its new chief financial officer.
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- July 29 2024
Axa XL reshuffles Asia leadership new specialty and P&C heads
The specialty (re)insurer has appointed Todd Wilhelm as head of specialty, Asia, and Guillaume Parard as head of P&C for the region.
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- July 29 2024
CrowdStrike IT outage could be earnings event, impact multiple carriers: AM Best
Since insurers have been tightening underwriting standards through increased retentions, manageable limits, shifting their focus to small and medium-size enterprises, the use of reinsurance, the event has potential to be a contracted claims and legal process, according to the rating agency.
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- July 26 2024
Sompo China to sustain profitable underwriting: S&P Global
The rating agency has affirmed the carrier's 'A' long-term local currency financial strength rating and issuer credit rating with a stable outlook.
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- July 26 2024
MSIG China’s subdued liability book weighs on underwriting performance: S&P Global
The rating agency affirmed its 'A' rating with a stable outlook, reflecting the outlook on the core operating entities of MS&AD.
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- July 25 2024
Chubb delivers on Asia promise with impressive Q2 top-line growth
Greenberg highlights accident & health and travel insurance as strong perfomers in the region, which was the fastest growing globally with 33% net premium increase in the second quarter.
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- July 24 2024
Swiss Re CorSo Australia & New Zealand appoints Kevin Bates as country head
Sydney-based Bates, who was head of risk and insurance at Australian construction company Lendlease, will take over from Christine Bell, who is retiring.
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- July 24 2024
Great American Insurance taps Chubb’s Julie Leng as marine underwriter
Leng, who was an assistant manager based in Kuala Lumpur, joins the Great American's Singapore branch.
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- July 23 2024
Zurich Australia on course for 7% revenue growth in the next two years: S&P Global
The rating agency has affirmed the insurer's 'AA-' rating with a stable outlook after implementing its revised criteria on capitalisation.
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- July 23 2024
Tokio Marine, Sompo receive FSA’s report orders on customer data leak
In their responses to the regulator's requests, the carriers have promised to continue to investigate the information leak, determine the root cause, and take thorough measures to prevent recurrence.
