Reih Angeles is Deputy News Editor at (Re)in Asia, steering the desk's breaking coverage of Asia Pacific insurance and reinsurance. Areas of specialty include insurer and life results, reinsurance and catastrophe losses, cyber, and regulatory change across India, Korea, China and Hong Kong.
Both insurers responded to a Financial Times report on their cover for the trader, which is accused of raising bank credit against invoices for trades that did not exist.
International reinsurers are expected to absorb over 93% of the proposed programme's THB75bn (US$2.27bn) exposure, with domestic carriers retaining only a small portion of the risk.
The regulator found gaps in how insurers account for future losses and consumer protection, with further industry discussions scheduled in the fourth quarter.
The partnership is expected to underpin AXA Hong Kong and Macau's next phase of AI adoption, spanning underwriting, claims processing, distribution and marketing.
