Subject: P&C Page 15 / 73
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- July 1 2024
Gen AI prophecy turns reality as insurers count cost benefits
Artificial intelligence, blockchain and embedded solutions are delivering tangible cost savings and enabling more competitive premium rates, senior insurance executives told an industry forum.
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- June 27 2024
India government may delay privatisation of three general insurers: report
The government will provide the state-owned carriers capital support of US$600m, and review business plans to strengthen their balance sheets.
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- June 27 2024
Japanese non-life industry underwriting income tops US$1bn in 2023: GIAJ
The industry’s combined ratio in 2023 decreased by 0.6 percentage points to 96.9% from a year ago, data from the industry body shows.
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- June 26 2024
Zurich to buy AIG travel insurance business for US$600m
The Swiss insurer will add AIG's Travel Guard brand to Cover-More, which will take the business to a combined annual GWP of about US$2bn.
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- June 26 2024
SBI General Insurance appoints former banker Naveen Jha as managing director and CEO
Jha was formerly deputy managing director of the insurer's parent, state-owned lender State Bank of India.
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- June 26 2024
Mitsui Sumitomo plans to merge continental European subsidiaries
The Japanese insurance group has announced that it will integrate MS Amlin Insurance and MSIG Insurance Europe by summer next year.
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- June 26 2024
Zurich aims to grow India headcount 40% following Kotak acquisition: report
In three years, the insurer will hire people in commercial underwriting, distribution and digital development, according to APAC chief executive Tulsi Naidu.
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- June 25 2024
HDFC Ergo appoints Anuj Tyagi as CEO
Tyagi succeeds Ritesh Kumar, who will move to the board of management of Ergo International as deputy chief operating officer from October 4.
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- June 24 2024
Insurance claims from southern China torrential rain and floods hit US$85m: NFRA
Insurers have received 18,400 claims so far and the meteorological bureau is expecting persistent rain after upgrading the rainstorm alert to red, the highest of the four-colour ranking system.
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- June 24 2024
Income Insurance on S&P CreditWatch negative on potential government support dilution
The CreditWatch followed news that the Singapore government-backed insurer is in talks with Allianz for a stake sale.
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- June 24 2024
Steadfast promotes Nick Cook and hires Swiss Re veteran Mark Senkevics
The senior management rejig at the Australian broker gives Cook a broader role across Australasian networks, broker and insurer services, as it brings in Senkevics to oversee MGAs, reinsurance and life. It also names new heads of operations and IT.
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- June 20 2024
Japan hailfall insurance payout reaches US$356m: GIAJ
The hail that affected Hyogo prefecture in April saw insurers settling 98% of the total 122,152 accepted as of May 31, according to GIAJ.
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- June 20 2024
Girija Subramanian takes over as New India Assurance chairperson and managing director
She was formerly the CMD of Agriculture Insurance Company of India.
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- June 20 2024
Japanese carriers walk a thin line on ESG underwriting: Fitch
While the major non-life insurers have incorporated sustainability considerartions, they may face pressure from foreign investors who consider them inconsistent with global environmental standards.
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- June 19 2024
QBE to wind down North American middle-market business
The shuttering of the underperforming unit will not affect core specialty, crop and commercial business, the Australian carrier said.
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- June 19 2024
QBE elevates Jeremy Lau to Asia chief underwriting officer
Hong Kong-based Lau will report to Asia chief executive Robert Kosova and the carrier’s international chief underwriting office Nick Hankin.
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- June 19 2024
Japanese non-life carriers’ FY 2024 ordinary profits more than doubled: FSA
The total net premiums written by the big-three Japanese insurance groups combined stood at US$81 billion for the fiscal year ended March 2024, data from the regulator shows.
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- June 17 2024
Australian P&C insurers to see slower premium growth: S&P Global
Despite lower premium growth on the back of moderating premium rate increases, profitability should remain strong this year through to 2025.
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- June 17 2024
ICA calls for overhaul in financial hardship support, redefine ‘vulnerability’
In its submission to the General Insurance Code of Practice review, the Insurance Council of Australia is calling for changes on how hardship support, such as premium relief, should be extended.
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- June 17 2024
Allianz Korea elevates Jin Kim to head of natural resources and construction
Seoul-based Kim has been at the German insurance group for five years as a senior property underwriter.
