Subject: P&C Page 3 / 72
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- March 3 2025
Thailand’s non-life 2023 underwriting profit at US$380m after US$1.5bn loss in 2022: AM Best
Rebound attributed to a rise in premium income and a decline in claims incurred, the rating agency said in its country report.
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- March 3 2025
Tune Protect’s insurance revenue up 4% to US$87.2m in FY24
Net insurance service result more than doubled, mainly attributable to improvement in the acquisition cost due to changes in the company's portfolio mix, as well as a lower reinsurance ratio.
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- March 1 2025
Suncorp to settle class action suit over add-on sales
Settlement must be approved by the Supreme Court of Victoria, but no date has been set for the hearing,
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- February 24 2025
Munich Re names Hanh Nguyen head of treaty P&C underwriting for Southeast Asia, India
Nguyen has been deputy head since July, and will succeed Joachim Zagrosek on March 1.
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- February 24 2025
Australia’s higher premiums may stifle new policy growth, lead to underinsurance: S&P Global
Insurance is already very costly in Australia's high-risk areas, and premiums are unlikely to fall anytime soon, S&P Global Ratings said in a report.
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- February 24 2025
Auto-fac market ‘not yet at scale for treaty purchase’, but ‘not dumping ground for bad risks’
Facility is emerging as a vital instrument to place risks that do not fit into existing treaties, Gallagher Re, Markel and Swiss Re say.
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- February 21 2025
Hyundai Insurance’s FY24 underwriting income slumps 22% to US$245m
Commercial business' underwriting income more than doubles, while long-term lines grow by 247.6%.
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- February 21 2025
DB Insurance underwriting profit up 4.5% to US$1.1bn
Underwriting profit went up only because of the commercial line performance that saw a US$71m profit compared with US$85m loss last year.
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- February 21 2025
QBE FY24 GWP up only 3% to US$22.4bn on portfolio exits, lower crop premium
Insurer reports an improved COR of 93.1%, supported by a favourable catastrophe experience, alongside a more stable central estimate reserve development.
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- February 21 2025
Samsung Fire & Marine’s expects ‘no impact’ on profits, capital after rejig: report
Samsung Life is seeking to make the South Korean non-life insurer its subsidiary and clarified that it has no plans to expand its holdings.
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- February 20 2025
Zurich’s APAC P&C business grows, GWP up amid ‘stellar performance’ in FY24
Non-life business' COR also improved, driven by rate and claims management in the motor and health portfolios.
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- February 17 2025
MS&AD accelerates, while Tokio Marine, Sompo see overseas topline growth moderate in Q3 FY24
MS&AD’s foreign subsidiaries grew NWP by a combined 25%, in contrast to the 1.2% growth posted by Tokio Marine’s international non-life businesses and 0.8% by Sompo’s overseas arms.
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- February 14 2025
MS Amlin’s COR for 9M FY24 at 88.8%, reports US$163.5m underwriting profit
MS&AD-owned specialty (re)insurer reports continued growth since turnaround a year ago, posting NWP of US$1.4bn.
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- February 14 2025
Commercial rates harden in Taiwan, Japan while rest of Asia declines: Marsh
Composite insurance rates in Asia continued a downward trend, declining by 3% in the fourth quarter of 2024, marginally higher than the global average.
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- February 13 2025
Hanwha denies reports of selling Carrot Insurance stake amid financial strains
Korean insurtech startup has been posting losses every year since its establishment in 2019.
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- February 13 2025
MG Non-Life sale: KDIC files injunction plea against union
Troubled insurer’s labour union has been disrupting the due diligence process by prospective buyer Meritz Fire & Marine.
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- February 13 2025
Liberty International Insurance reshuffles APAC team with 3 director promotions
Carrier promotes Michael Abdallah to APAC CUO, elevates John McCabe to president of Australia and hands Vanessa Maher the role of Asia Pacific COO.
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- February 13 2025
IAG’s H1 FY25 underwriting profit up 125% to US$458m, COR improves to 85.2%
Australian insurer’s GWP grew 6% to US$5.3bn driven by strong renewal rates for direct channels in Australia and New Zealand reflecting moderating premium increases and claims inflation.
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- February 12 2025
Samsung Fire & Marine FY24 insurance profit down 6% at US$1.3bn
South Korean carrier's motor insurance COR deteriorated to 98.3% in FY 24 from 96.6% last year, while the P&C business' loss ratio for the period worsened to 64.4% from 61% in FY23.
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- February 12 2025
Opinion: With fires, floods ripping through limits, will carriers get with the program?
Insurers handed wake-up call after LA fires and Queensland floods usher in 2025.
