Subject: P&C Page 47 / 72
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- October 21 2022
Cathay Financial to inject US$300m into Cathay Century
The fundraise will help the Taiwanese P&C player absorb rising losses on pandemic policies and mark-to-market losses on their investments.
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- October 21 2022
Warburg Pincus commits US$350m for ‘buy-and-build’ South-East Asia P&C digital player
IAN recently revealed that the new company, to be called Oona Insurance, had completed an acquisition in the Philippines.
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- October 21 2022
Australian general insurers well capitalised despite monster flood: APRA
The industry maintained a coverage ratio of 1.7x the minimum requirement, the regulator’s annual report showed.
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- October 19 2022
CTBC launches bid to become Taiwan’s first virtual insurer: report
The P&C carrier has filed an application with the Financial Supervisory Commission.
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- October 16 2022
Pakistan floods place credit pressure on P&C players
EFU General Insurance, Jubilee General Insurance and Adamjee Insurance have relatively small exposures to the flooding.
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- October 14 2022
Mapfre sells Philippines business to Aseana
The Spanish group has been closing its direct insurance business in Asia even as it expands its reinsurance arm.
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- October 12 2022
China Merchants’ carve-out to create more agile P&C carrier
A combination of CMB Wing Lung Insurance and China Merchants Insurance will create a top-20 player with US$140m-plus GWP.
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- October 10 2022
Tower completes legacy build-out with Kiwibank deal
The New Zealand carrier will pay US$3.3m for the portfolio, which will be migrated to its flagship Direct channel.
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- October 10 2022
Luen Fung Hang Insurance gets over pandemic impact with 58% COR: AM Best
The Macanese P&C player leveraged its distribution to stay second in the market with a 22.8% share.
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- October 10 2022
Hollard’s Australian arm constrained by Commonwealth Insurance buy
AM Best said the combined entity is expected to see growth in underwriting risks.
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- October 7 2022
Japan non-life insurers have ‘stable’ outlook: AM Best
Higher loss ratios for motor insurance, personal accident and marine could impact insurers’ underwriting profitability.
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- October 6 2022
Despite HK’s re-emergence, data shows Singapore pulling away in P&C race
While Singapore's GWP grew 14.25% in 2021, Hong Kong's annual growth was only 2.9%.
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- October 4 2022
SBI General Insurance names veteran banker Kishore Poludasu as CEO
The formed deputy managing director of the State Bank of India will take charge of the insurer from October 4.
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- September 29 2022
China Merchants Bank consolidates Hong Kong GI businesses
CMB Wing Lung Insurance to merge with China Merchants Insurance in an all-stock deal.
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- September 26 2022
Zurich joins hands with Piramal for Reliance General Insurance bid: report
The Swiss carrier's JV will compete with PE firm Advent for the general insurance arm of debt-ridden Reliance Capital.
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- September 26 2022
Generali picks new Hong Kong CEO: sources
IAN understands the replacement for Davide Glavina, who left the company after a few months into the role, is awaiting regulatory approval.
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- September 26 2022
Malaysia’s Pacific & Orient suffers from lack of diversification: Fitch
The firm's COR was 96% in FY 2021 compared with 107% in FY 2020, with a three-year average of 100%.
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- September 23 2022
‘Hardening continuing into the coming renewal’: Swiss Re’s Paul Murray
The reinsurer is withdrawing capacity from frequency-driven nat cat events and doubling down on ‘sweet spot’ high layers in Asia.
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- September 22 2022
Well Link’s Thomas Lee doubles up as GI CEO
Well Link Life's chief executive aims to bring synergies across the HK firm's general and life units.
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- September 22 2022
Australia’s H1 GI intermediated GWP grew 18% to US$11bn: APRA
US$1.2bn was placed with Lloyd's underwriters, up 10% over the same period last year.
