Subject: P&C Page 16 / 75
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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.
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- July 19 2024
Income to benefit from Allianz’s global expertise and potential synergies: Fitch
The proposed acquisition is fully in-line with Allianz’s strategic objectives to grow inorganically in property and casualty, the rating agency said.
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- July 19 2024
China Huanong P&C downgraded for poor capital raising ability
The global rating agency has downgraded the carrier's rating to 'BBB-' from 'BBB' with a negative outlook due to investment losses.
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- July 19 2024
Hyundai Marine & Fire Insurance’s long-term line results to improve: AM Best
The rating agency has affirmed the carrier's financial strength rating of A (Excellent) and the long-term issuer credit rating of “a” (Excellent) with a stable outlook.
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- July 18 2024
Market dynamics positive despite geopolitical, climate risks headwinds
Severe weather events, projected to rise by 5-7% every year, geopolitical unrest, and supply chain disruption are the main systemic perils that put pressure on the insurers, according to SwissRe Corso CUO Kera McDonald.
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- July 16 2024
Munich Re’s Serene Chan takes charge as head of P&C reinsurance for Greater China
Chan, who was previously regional head of cyber for Asia Pacific with the reinsurer, was appointed in the new role following a wider regional leadership reshuffle earlier this year.
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- July 11 2024
Allianz Commercial names Young Jeong Lee as head of financial lines, Korea
Lee joined from Samsung Fire & Marine, where he worked 12 years as a senior professional in its finance and energy department and global strategy department.
