News

Australian regulators kick off discussions on new Financial Accountability Regime (FAR)

July 20 2023

The new regime replaces the 2018 Banking Executive Accountability Regime (BEAR) and will expands its reach to include insurance companies and supers.

Urgent actuary shortage prompts reintroduction of qualification process in China: report

July 20 2023

The Chinese government is restoring the qualification process for actuaries after a nine-year hiatus.

mixed-results-for-asia-as-top-20-global-insurers-see-modest-premium-growth-amidst-falling-revenue

Mixed results for Asia as top 20 global insurers see modest premium growth but falling revenue overall

July 20 2023

Seven of the top 20 insurers came from Asia, with Global Data warning the insurance industry will continue to face numerous challenges in 2023.

ping-an-release-2022-results-under-ifrs-17-confirm-new-accounting-standard-wont-impact-strategy

Ping An release 2022 results under IFRS 17, stating new accounting standard will not affect their strategy

July 19 2023

Revenue down, net profit up considerably, but effects on total assets and liabilities were estimated at 1%.

The Insurance Council of Australia backs inquiry into 2022 floods

July 19 2023

The 2022 floods caused a record AU$7.17bn ($4.8bn) of insured losses and the enquiry aims to improve the industry's response to extreme NatCat events.

zhonglu-insurance-positioned-for-steady-growth-fitch-ratings

China's Zhonglu P&C positioned for steady growth: Fitch Ratings

July 19 2023

Fitch acknowledge the Qingdao-based insurer's strong risk-based capitalisation, but highlighted its short profit record and need for better reinsurance arrangements.

report-china-taiping-insurance-groups-deputy-gm-under-investigation-for-alleged-law-violations

Update: Deputy GM of China Taiping Insurance resigns following reports of investigation for corruption

July 19 2023

China Taiping officially announced on the HKEX that Xiao Xing has resigned from his role, citing personal reasons.

Japan P&I Club reports 2022 financial recovery amidst ongoing pandemic challenges

July 19 2023

Following a loss in the previous fiscal year, Japan P&C Club have rebounded to profitability following premium increases and a decrease in claims.

insurtech-startup-renewbuy-secures-us40m-from-dai-ichi-life-as-part-of-series-d-funding-round

Insurtech RenewBuy secures US$40m from Dai-ichi Life as part of Series D funding round

July 19 2023

The company said it plans to use the funds to expand across Asian markets and improve its product offerings and technology capabilities.

South Korean insurers to benefit from regulatory changes on foreign investments: Report

July 19 2023

The FSC plans to ease restrictions on overseas subsidiary investments and capital support, to stimulate global expansion from domestic financial companies.

Gallagher strengthens presence on Australia's Sunshine Coast with Thompson Insurance acquisition

July 19 2023

Gallagher's second Sunny Coast acquisition in 8 months looks to capitalise on expected growth in the region.

Hailstone Labs invests in OneDegree to spearhead digital asset growth

July 18 2023

The investment aims to promote the advancement of blockchain technology and to streamline the proces of digital asset legalisation.

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