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- April 19 2024
Tower upgrades FY 2024 profit outlook to US$20m
The updated guidance assumes full utilisation of the FY 2024 large events allowance, which is set at US$26.5m.
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- April 19 2024
Generali streamlines insurance division in group restructure
The insurer will separate insurance and asset management businesses from June 1 and the insurance division will be led by Giulio Terzariol with country and regional leaders, including Rob Leonardi-led Asia, reporting to him.
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- April 19 2024
Allianz Commercial’s Sandric targets double-digit growth in Asia but cautions on market softening
The carrier aims to be a leader in the region's competitive commercial risks space and expand its alternative risk transfer solutions and multinational program offerings, the Asia chief executive told InsuranceAsia News.
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- April 18 2024
Exit-bound Lotte Insurance owner shopping for overseas private equity buyers: report
South Korea’s JKL Partners is reportedly in talks with JC Flowers to sell the Korean non-life carrier in a sale process run by JPMorgan.ts valuation.
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- April 18 2024
ICICI Lombard’s FY 2024 underwriting losses up 10% at US$1.2bn, COR dips to 102.2%
The Indian general insurer's GWP grew by 17.5% US$3bn and net profit was up 11% year-on-year.
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- April 18 2024
Australia’s strata insurance sector in ‘race to bottom’ as questionable practices abound: ACIL
A survey by the Australian Consumers Insurance Lobby has found a range of potentially unlawful practices in the industry that warrants regulatory intervention.
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- April 18 2024
Hong Kong’s national security law eases US$100m political violence concerns
The new law has lowered concerns of exposure to another event akin to the 2019 protest, still (re)insurers haven't relaxed underwriting considerations.
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- April 16 2024
Fitch downgrades outlook for Sinosure, China Taiping group entities after sovereign rating action
The negative outlook reflects a potential decline in the willingness and ability of the government to support insurers with weaker standalone credit quality.
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- April 16 2024
Taiwan earthquake preliminary non-residential losses exceed US$263m: Guy Carpenter
While not all of these losses are insured, the residential earthquake insurance fund has reported claims of about US$23m from 472 claims, data from the broker showed.
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- April 15 2024
IRDAI allows carriers to customise commercial policy wordings: reports
Non-life insurers were previously restricted to offering standard base policy wordings for motor, property, and engineering insurance cover based on which they could provide add-on covers/riders.
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- April 12 2024
Sure raises Northern Queensland residential strata cover to AU$20m to improve access
The move is expected to allow body corporates and lot owners who have been challenged by affordability or under-insuring their complexes to access "alternative strata premium offerings", the insurer said.
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- April 12 2024
LeapFrog Investments taps Indonesia’s reform opportunities with full-stack insurtech
The insurance-focused investor believes that the winners in South-East Asia’s largest digital economy will be those that can steer away from an asset-light broking model, as it backs insurtech PasarPolis in ramping up its underwriting capability.
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- April 12 2024
Sompo Singapore to sustain profitability, expand regional commercial line: S&P Global
S&P Global Ratings affirmed the carrier's "A" local currency long-term insurer financial strength rating with a stable outlook.
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- April 11 2024
Taiwan earthquake claims unlikely to exceed 2016 Meinong event’s US$500m: AM Best
Carriers will only have to deal with limited commercial and industrial claims such as business interruption as the April 3 quake was quite far from the economic and scientific centres and most of the losses are ceded to the international reinsurance market.
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- April 11 2024
MSIG Hong Kong promotes Shujiro Suzuki as deputy CEO
Suzuki succeeds Hideaki Amasaki, who has started a new role as general manager of Mitsui Sumitomo Insurance’s international business department in Tokyo.
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- April 10 2024
AIG hands Brett Chew expanded role as head of affinity distribution & partnerships
Singapore-based Chew was previously head of affinity at the insurer will also join its Singapore executive committee.
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- April 10 2024
India’s FY2024 non-life sector GWP up 13% as motor, health buoy growth
Gross direct premiums for all Indian non-life insurers in 2023-24 increased to US$34.8bn, according to the latest data released by the General Insurance Council of India.
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- April 10 2024
Australian insurtech Honey raises US$71.5m in a series A funding
The investment for the specialist home insurance startup backed by RACQ was led by the US private firm Gallatin Point Capital.
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- April 9 2024
Ansvar Insurance Australia hires Peter Bailey from AIG as chief underwriting officer
Bailey has joined Ansvar Insurance after a 10-year stint at AIG where he was most recently its head of portfolio solutions.
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- April 9 2024
Axa XL appoints Cedric Declercq to head of technical claims and exposure management for APAC and Europe
Singapore-based Declercq was the specialty (re)insurer's most recently APAC practice leader and claims manager, global Lines, since 2018.
