Subject: P&C Page 39 / 73
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- June 9 2023
Tokio Marine Indonesia’s 2022 COR at 84%: AM Best
The credit rating agency has affirmed an A- (excellent) rating with a stable outlook for the Indonesian carrier.
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- June 9 2023
Hyundai Marine to benefit from transition to IFRS 17: AM Best
The carrier was facing 'considerable pressure' on its capital position in FY 2022 due to valuation losses, which can now be reduced.
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- June 8 2023
GIC Re set to appoint Ramaswamy Narayanan as chairman
The government will also appoint United India Insurance general manager Rajeswari Singh as chairman and managing director of National Insurance.
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- June 8 2023
Sri Lankan insurers’ profits to be hit by inflation, currency devaluation: Fitch
Underwriting profit for P&C insurers to be squeezed by rising motor spare-part costs, while sparse foreign-currency liquidity is hampering firms.
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- June 8 2023
Neil Dempsey joins 360 Underwriting Australia as head of property, mid market
Sydney-based Dempsey joins from a rival MGA and will work with Jonathan Moss, executive director, mid-market property.
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- June 7 2023
Guy Carpenter hires ex-Scor CEO to head EMEA, India and global capital solutions
London-based Laurent Rousseau will report to the reinsurance broker's president and CEO Dean Klisura.
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- June 6 2023
Axa rejigs leadership team, Gordon Watson becomes Asia non-exec chairman
With the reshuffle, Japan and Greater China will report to George Stansfield, group deputy CEO, while South-East Asia and India will be overseen by Hassan El-Shabrawish, CEO of international markets.
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- June 6 2023
Arch Insurance appoints Lucy Wood as northern region manager for A&H
Sydney-based Wood will manage the portfolio and the underwriting team for the region, including New South Wales, the Australian Capital Territory and Queensland.
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- June 6 2023
Despite the buzz, Korean insurance M&A slow to take off
A consolidated market, low valuations and lack of sizeable targets make dealmaking hard in the north Asian country.
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- June 5 2023
Alastair Stuart to lead Chubb’s new Singapore aviation hub
The unit is part of Chubb Global Markets' global expansion in general aviation and aerospace business.
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- June 5 2023
Axa XL ropes in Evelyn Pang as global program and captive manager for Asia
Hong Kong-based Pang, who joins from Berkley Insurance Asia, will report to the (re)insurer's HK CEO Jamie Chambers.
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- June 1 2023
Sedgwick elevates Amanda Hillier to forensic accounting partner in Australia
Hillier has been responsible for operational quality in this division since 2011.
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- May 31 2023
Hong Kong P&C underwriting profit tumbles 52% in Q1 2023: HKIA
General insurance gross premiums grew 7% year-on-year driven by a 12.7% growth in reinsurance business.
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- May 31 2023
AIG exits Pakistan, sells business to TPL Insurance
The scheme of arrangement has a December 31 deadline for transaction completion.
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- May 30 2023
China’s SDIC to sell its 20% stake in Jintai Insurance: report
The state-owned investor, which is the second-largest shareholder of the Chengdu-based general insurer, has set a US$7.5m base price for the stake.
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- May 30 2023
Catholic Church Insurance in Australia enters run-off
CCI has been operating since 1911 and says it "has sufficient assets to meet its commitments as they currently stand" as reports suggest historical abuse claims are the reason for closure.
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- May 29 2023
Swiss Re CorSo sees growth in APAC through ‘bespoke offerings’
While the carrier is looking to grow its Japan, South-East Asia footprint, it has a 'big focus' on its parametric and global programmes offerings.
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- May 29 2023
Fitch Ratings downgrades Guoren P&C over risky assets, leverage
Guoren P&C’s insurer rating has been downgraded to BBB+ from A- with a stable outlook.
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- May 26 2023
Labuan struggles to reignite interest as global insurance hub
Covid-19 may be over but global capital still isn’t returning to Malaysia’s offshore centre.
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- May 25 2023
Singapore insurers report 58% dip in 2022 profits despite premium growth: MTI
The 2022 economic survey noted that general insurers in the Lion City reported a 9.7% growth in GWP while the overall finance and insurance sector in the country shrank by 0.9%.
