Subject: P&C Page 17 / 72
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- May 22 2024
Income Insurance exploring strategic options for APAC expansion: Bloomberg
The Singaporean insurer had provided liquidity to almost 16,000 shareholders for holdings worth US$619m through a private exchange listing last month.
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- May 22 2024
Rise of autonomous vehicles switches gears on motor liability cover
As the use of self-driving technology widens to taxi and minibus fleets in China, (re)insurers are referencing new regulations on their use on roads to explore new cover for autonomous vehicles.
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- May 21 2024
Japanese big 3 results bolstered by overseas business, weak yen
The Japanese insurers' international subsidiaries reported strong performance in 2023 due to steady rate increases, while domestic premium growth remained muted despite fire and motor premium hikes.
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- May 20 2024
Chinese regulator fines Ping An P&C for internal control failures, fund misuse
The fines were imposed on the company as well as 12 "responsible" employees over a range of violations including internal failures and inappropriate or illegal fund allocations, according to the regulator.
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- May 17 2024
Axa XL elevates Robert Riha to chief client and distribution officer for APAC and Europe
Riha will relocate from Singapore to Dublin and lead the company’s broker engagement and marketing activities.
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- May 17 2024
Starr Insurance launches in Korea with Paul Choi in charge
Choi was formerly Aon Korea's chief broking officer and has been named CEO of the insurer's new branch in Seoul.
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- May 17 2024
Beat Strebel to take charge as Swiss Re China CEO
Currently head of P&C reinsurance for Middle East & Africa, Strebel has takes over from Ivan Gonzalez, who has been elevated to CEO of Swiss Re CorSo.
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- May 16 2024
Swiss Re to exit unprofitable digital white-label platform iptiQ
The reinsurer's Asia premiums grew 5% to US$3.5bn year-to-date from renewals; books US$100m losses from Baltimore Bridge collapse.
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- May 16 2024
Swiss Re China head Ivan Gonzalez appointed CorSo global CEO
Gonzalez will succeed Andreas Berger, the incoming group CEO, effective July 1 and relocate to Zurich. He will be succeeded by Beat Strebel, currently the market unit head for Middle East & Africa.
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- May 16 2024
Guoren P&C’s underwriting profitability under test: Fitch
The Rating agency has downgraded the insurer's rating outlook to "negative" from "stable", while affirming its rating at "BBB".
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- May 15 2024
Japan’s big 4 face price fixing allegations in group insurance policies: report
The insurers, who have in the past been accused of cartelisation in commercial insurance policies, are facing regulatory probe over personal insurance pricing.
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- May 14 2024
Hannover Re books US$40m losses from Japan’s Noto earthquake, plane crash
The twin events in Japan accounted for 10% of the reinsurer's large loss budget for the first quarter.
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- May 14 2024
Everest Australia launches with Sydney and Melbourne offices
The team, led by Christian Colombera, will write property, casualty, financial lines, professional lines, and energy and construction risks.
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- May 14 2024
Battery risks extend EV insurance’s frontier into product liability
The heightened risks of fire and explosions associated with the use of lithium-ion batteries are forcing (re)insurers to rethink the way they approach their motor insurance business.
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- May 13 2024
Reliance General Insurance owner’s acquisition approved by regulator: report
IRDAI has approved the Hinduja Group‘s acquisition of Reliance Capital's 3 insurance units before the May 27 deadline but under conditions on share transfers and encumbering.
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- May 10 2024
RACQ appoints Bank of America for potential sale: report
Plan to divest insurance arm that includes car, home, pet and caravan insurance products is gaining traction, according to a local media report.
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- May 10 2024
Analytics: Singapore (re)insurance market extends lead as Hong Kong hit by lacklustre UW results
While overall GWP growth in both cities were similar, the Lion City's primary insurers saw significant growth in 2023 compared with peers in the SAR, data from the cities’ regulators show.
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- May 9 2024
Malaysian Re FY 2024 GWP tops US$500m; parent achieves record net profit
The Asean reinsurer reported a combined ratio of 95.5% and its post-tax profit grew 146% in the latest financial year.
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- May 8 2024
Shanghai Insurance Exchange appoints Wang Zhe as new head as ex-chair faces probe
Wang, an insurance veteran specialising on data analysis and infrastructure, has replaced Ren Chunsheng, who is under probe by the Communist Party's top anti-graft watchdog.
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- May 8 2024
Asian insurers bracing for a soft market cycle as competition revs up
Increasing capacity and a relatively benign cat loss environment are driving down primary market rates across business lines and markets in the region.
