Subject: P&C Page 40 / 73
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- May 25 2023
Axa XL hires Nicholas Strong as senior casualty underwriter
Sydney-based Strong joins from CGU Insurance, where he held a similar role.
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- May 24 2023
Reliance General Insurance promotes Namita Rohra to liability, credit and specialty head
Mumbai-based Namita Rohra was earlier segment head liability for cyber and specialty lines in Reliance General.
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- May 24 2023
Manila Central Post Office insured for US$11m with state-owned GSIS
The Government Service Insurance System (GSIS) will provide a loan to reconstruct the important building damaged in a fire on May 21.
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- May 23 2023
Uplift in consumer sentiment helps APAC carriers combat reinsurance costs, inflation: Fitch
Primary insurers have been able to pass on higher premium rates to customers, even double-digit hikes in places like Australia, without affecting business retention.
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- May 23 2023
Axa XL looks to tap into Asia corporate mindset shift
The French (re)insurer sees huge potential in the region with eight Asian markets expected to grow 11% per year from 2021 to 2025.
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- May 23 2023
Zurich Hong Kong appoints David Chiu as chief claims officer
A Zurich veteran for the past 10 years, Chiu has held several leadership roles in the Hong Kong claims team.
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- May 22 2023
Fubon Insurance reports US$140m loss for Q1 2023
The Taiwanese P&C player says it has raised US$523m and that its current capital position exceeds legal regulatory requirements.
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- May 22 2023
Japan’s big 3 count on overseas recovery as domestic results take nat cat hit
Tokio Marine, MS&AD and Sompo expect a revival in international units to drive FY 2023 performance.
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- May 19 2023
Sompo Japan COR deteriorates to 100.9% in FY 2022
Sompo International improves underwriting profit by 25% over last year despite US$553m of nat cat losses.
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- May 19 2023
MS&AD’s Japan non-life units fall to US$110m underwriting loss
The Tokyo-headquartered giant saw local cat losses increase 104% year-on-year at its two domestic P&C players, while MS Amlin returned an underwriting profit of US$78m.
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- May 19 2023
Tokio Marine books US$760m FY 2022 Covid losses from Taiwan
The group also saw losses of US$570m from two typhoons and a huge hailstorm in Japan, as overall FY 2022 profit climbed 1.7% to US$2.72bn.
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- May 19 2023
Sony to spin off financial services arm housing its insurance businesses: report
Sony Financial Holdings, to be listed on the Tokyo Stock Exchange, owns the P&C business Sony Assurance and life carrier Sony Life.
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- May 19 2023
Stewart Mirah joins HDI Global as senior underwriter
Brisbane-based Stewart will establish the specialty carrier's motor fleet portfolio in Queensland.
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- May 18 2023
Travel cover in the fast lane with higher premiums and attachment points
The average rate increase in the past 18 months reached 15% in the Pacific, high single digits in South-East Asia and India, with similar trends expected in China and Japan.
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- May 17 2023
Travel insurer battleface opens base in Australia
The US-based carrier has partnered with MGA Mustard Underwriting, insurtech Wise & Silent and start-up Awai Travel for its regional foray.
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- May 17 2023
Tokio Marine withdraws from select Pacific markets: report
The insurer exits Guam and the Northern Mariana Islands as margins deteriorated in 2022 as medical claims rebounded.
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- May 16 2023
Chubb Australia promotes Ryan Spettigue to global client executive
Spettigue was earlier the national leader for major accounts division, casualty, Australia, responsible for the insurer’s key clients.
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- May 12 2023
Chinese insurers premium growth to accelerate in 2023: Fitch
The first quarter of FY 2023 has already seen rapid growth as non-motor grew by 14.1% and motor rose by 6.2% year-on-year.
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- May 11 2023
Indian finance ministry sets riders for fresh capital in three state-owned P&C carriers: report
National, Oriental and United India will need focus on the bottom line and improve costs, digitalisation and products.
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- May 11 2023
Generali launches unified brand for Malaysian general insurance arms
Axa Affin and MPI Generali Insurans will now operate under an integrated Generali Malaysia brand.
