News

Insurance Authority suspends agent for seven months over unauthorised policy sign-up

March 12 2024

Insurance agent banned for seven months after taking out and paying for policy without client's approval, in a bid to climb sales rankings.

south-koreas-major-non-life-insurers-break-1-trillion-won-in-overseas-premiums-for-2023-report

South Korea's major non-life insurers break 1 trillion won in overseas premiums in 2023 - report

March 12 2024

Four leading non-life insurers collect 1.04 trillion won (US$793m) in overseas premiums, but mere 1.2% of total premiums, highlights potential for further expansion.

Australian Government to introduce financial sector regulatory initiatives grid

March 11 2024

New regulatory initiative aims to streamline financial sector, including insurance, enhance business operations and reduce compliance costs.

fwd-group-secures-majority-ownership-in-fwd-takaful-berhad-with-21-share-acquisition

FWD Group secures majority ownership in FWD Takaful with 21% share acquisition

March 11 2024

FWD Group's strategic investment boosts ownership of FWD Takaful Berhad to 70%, as insurer moves to strengthen its position in the Malaysian market.

hong-kong-underwriting-profits-and-gross-premiums-fell-sharply-in-2023

Hong Kong underwriting profits fell sharply in 2023

March 8 2024

Extreme weather and a struggling property market paved the way for big drops across multiple lines, according to provisional Insurance Authority data.

Australian MGA Criterion Underwriting expands to New Zealand

March 8 2024

Criterion expands from Australia, with a focus on waste and recycling segments and other hard to place risks.

AXA launches women-exclusive health centre in Hong Kong

March 8 2024

AXA and Chiron Medical launch health centre with all-female medical team and which offers services exclusively for women.

insurance-council-of-australia-labels-victorias-valentines-day-storms-a-significant-event

Insurance claims from Victoria's Valentine's Day storms top AU$100m

March 8 2024

Victoria's 14 Feb severe storms trigger nearly 20,000 claims worth AU$104m (US$69m), says ICA.

ICAC charges ex-Insurance Authority director over coercive hiring allegations

March 8 2024

Hong Kong's corruption watchdog charges Hui Mei-ying and daughter-in-law with misconduct in Prudential hiring case, with both granted bail.

India's Ministry of Ports, Shipping and Waterways advancing plans for domestic P&I club - report

March 8 2024

Initial focus on coastal and riverine vessels, but regulatory issues remain.

Australian Treasury looks to standardise natural hazard insurance definitions

March 7 2024

New consultation aims to standardise natural hazards to enhance transparency and consumer understanding.

descartes-underwriting-receives-japanese-licence

MGA Descartes Underwriting secures broker registration in Japan

March 7 2024

Registration will help MGA enhance awareness and presence of parametric solutions in Japan.

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