Subject: P&C Page 27 / 75
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- February 5 2024
Taiwan non-life sector returns to profitability in 2023
Pre-tax profit for the non-life sector totalled US$557m as the drag from Covid-19 related losses eased.
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- February 2 2024
Cover-More appoints Justin Sebire as interim group CEO
Sebire will replace Cara Morton, who has relocated to Switzerland to pursue her new role as CEO of Zurich Global Ventures.
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- February 1 2024
Sunshine P&C Insurance to sustain underwriting profits, stable outlook: Fitch
The P&C arm of listed Sunshine Insurance Group should be able to sustain profits in the near-term due to tighter risk selection and reduced guarantee business.
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- January 31 2024
Japan’s non-life insurers to stay profitable despite large cat losses: AM Best
The rating agency is maintaining its stable outlook on the sector's underwriting performance despite sizable earthquake, typhoon and hailstorm claims.
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- January 31 2024
Asian casualty rates softening but underwriters wary of spike in claims
Though capacity remains abundant for liability lines in the region, carriers remain cautious over rising claims costs and knock-on effects from US and Australian markets.
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- January 31 2024
Youi Insurance appoints executive general manager in Brisbane
Brisbane-based Chris Jarrett, who started in his new role on January 15, will be advancing Youi’s claims management capabilities and claims experience for the customers.
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- January 30 2024
Adrian Sweeney returns to Zurich as New Zealand general manager
After departing from MGA Delta Insurance two years ago, Auckland-based Sweeney rejoins the global insurer where he had worked for over 20 years.
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- January 29 2024
Sompo commits to fixes and reviews as FSA issues six-point business improvement order
The Japanese insurer is taking measures including clarification of management responsibilities related to Bigmotor, and make insurance premium adjustment.
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- January 26 2024
Consistent underwriting profits back Bao Minh Insurance’s stable outlook: AM Best
AM Best has affirmed the Vietnamese carrier's issuer rating at B++ (good) with a stable outlook, due to its consistent profits and strong balance sheet.
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- January 26 2024
Vietnam’s PTI sees rising loss ratio on health and motor lines: AM Best
AM Best has affirmed an insurer rating of B++ (good) for the company with a negative outlook due to its recent capital erosion.
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- January 25 2024
Cover-More names Australia and New Zealand COO
In his new role, Sydney-based Nick Slessor will lead the company's Australia and New Zealand strategic delivery, customer service and claims functions.
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- January 19 2024
Minority shareholder in Chubb-backed Huatai Insurance puts US$34m stake up for sale
The seller Lucky Film, an affiliate of state-owned space contractor China Aerospace Science and Tech Corp, will auction its shares on the Beijing exchange.
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- January 18 2024
Thailand’s insurance sector to grow to US$28.18bn by 2026: OIC
This would mean a 'significant jump' for the sector from the present US$25.3bn GWP as the industry is recovering from Covid-19 claims.
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- January 18 2024
Tokio Marine fully exits Saudi Arabian business
Tokio Marine & Nichido Fire Insurance has agreed to sell its remaining stake of Arabian Shield Cooperative Insurance to Alinma Bank.
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- January 17 2024
Munich Re’s Wenning says its China ‘footprint’ would outsize other markets over time: report
The reinsurer plans to scale up its China business as it expects the country to emerge as the largest insurance market in the world.
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- January 17 2024
Zheshang P&C’s underwriting profitability slated to improve: Fitch Ratings
The rating agency has assigned the Hangzhou-headquartered carrier rating of 'BBB' (good) with a stable outlook as its COR improved to 104% in 2023.
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- January 16 2024
India to top G20 with non-life premiums forecast to grow at 8.3%
Total insurance premium is forecast to grow at 7.1%, well above the global average of 2.4%, says Swiss Re.
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- January 16 2024
Tower exits Vanuatu business with sale to Capital Insurance Group
The deal is part of the Kiwi carrier's streamlining plans that saw the sale of its Papua New Guinea and Solomon Islands business in the last fiscal year.
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- January 16 2024
China’s ‘real estate development model 2.0′ keeps non-life insurers’ growth buoyant
Government spending on affordable housing and public facilities will cushion insurers from the sector's downturn, sustaining the country's P&C premium growth of at least 7% for 2023 and 2024.
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- January 15 2024
Etiqa’s ratings affirmed, but underwriting margins may feel pricing reform pinch: AM Best
The Malaysian insurer, rated A- (excellent) with a stable outlook, has reported a five-year average combined ratio of 87%.
