GIAJ: Noto Peninsula Earthquake claims rise to ¥90.9bn (US$578.02m)
Approx. 145k of 150k residential claims have been investigated, with 69% of claims paid.
Rapid growth in MGA premiums warrant enhanced oversight: AM Best
AM Best calls for heightened oversight amid rapid growth of MGAs and increased private equity involvement.
Hong Kong’s direct GI underwriting profits up 61.8% in Q1
HK’s direct general insurance segment sees underwriting profits rise to HK$625m (US$80m), but property line sees doubling of gross claims paid.
India faces growing backlog of 1m motor insurance claims valued at nearly US$10bn
RTI query uncovers over 1 million pending motor accident claims worth 805bn rupees (US$9.68bn).
GIAJ reports US$214m in insurance payouts for Hyogo April hail event
Association reports swift response from industry with an estimated 99.7% of 92,424 claims already settled.
Insurance losses for Noto Peninsula Earthquake jump over US$500m mark
Total number of claims rises to over 140k, with 95% of investigations completed and 67% of payments made as of 26 April.
Asia the “hotspot” for shipping losses amid global low: Allianz Commercial
100GT+ maritime losses drop 70% in last decade, but the speed and extent to which risk profile is changing is “unprecedented in modern times,” says Head of Marine Risk Consulting.
Generali to provide €250 million in capacity for Hong Kong’s art collectors
ARTE Generali will bring “significant” capacity to Hong Kong, placing Italian insurer in the top quartile for the market, CEO Jean Gazançon tells (Re)in Asia.
Philippines’ non-life segment sees 7.76% GWP increase in Q1
GWP rises to PHP 28.2bn (US$485m), with motor and fire lines providing key contributions.
High performing intermediaries excel through efficiency and investments in tech
Australia’s high performing insurance intermediaries record higher GWP’s, while maintaining lower headcount and considerably fewer clients, according to data from Macquarie Bank.
