News

allianz-asia-pacific-reports-33-growth-in-operating-profit

Allianz Asia Pacific reports 33% operating profit growth in 2023

February 26 2024

Allianz APAC's Life & Health business saw operating profits grow 35%, while P&C business grew 26%.

IRDAI maintains obligatory cession rate at 4% for 2024-25

February 25 2024

Insurers to continue ceding 4% of GI business to GIC Re, excluding terrorism and nuclear pool premiums.

Zurich opts for 70% upfront stake purchase of Kotak General

February 23 2024

Kotak Mahindra Bank announced Zurich's revised plan to acquire 70% stake in single transaction, altering the initial phased acquisition strategy.

zurich-asia-pacifics-operating-profit-surge-18-to-record-us565-million

Zurich Asia Pacific’s operating profits surge 18% to record US$565 million

February 23 2024

APAC P&C gross written premiums up 11%, while life insurance business surge 88%.

manulife-completes-landmark-us9-64bn-ltc-reinsurance-deal-with-global-atlantic

Manulife completes landmark LTC reinsurance deal with Global Atlantic

February 23 2024

Landmark deal was first announced in December and includes two Japanese whole life product blocks.

nsw-launches-first-state-disaster-mitigation-plan-to-combat-rising-nat-cat-costs

NSW launches Australia's first State Disaster Mitigation Plan to help combat rising nat cat costs

February 23 2024

Plan promises a proactive approach to disaster risk reduction including improved early warning systems and reviews of building codes and insurance levy arrangements.

irdai-proposes-new-collateral-requirements-for-cross-border-reinsurance-deals

Indian cedents likely to face new collateral requirements for cross-border reinsurance transactions

February 22 2024

IRDAI issues draft guidelines mandating new collateral requirements from FY 2025-26.

Western Australia braces for ex-tropical cyclone Lincoln's return

February 21 2024

The cyclone is set to reintensify, after previously causing extensive rainfall in the NT, and is part of a series of weather challenges facing Australia.

zurich-malaysia-taking-proactive-action-to-enhance-climate-strategy-report

Zurich Malaysia CEO outlines proactive approach to climate strategy - report

February 21 2024

Junior Cho spoke about some proactive steps insurer is taking amid increasing climate-related disclosures requirements.

chinas-non-listed-pc-and-life-insurers-see-contrasting-results-in-2023

China's non-listed insurers see large losses amid mixed results in 2023

February 21 2024

Life segment's US$1.97bn losses contrast with P&C's US$659m profits, though only 35% of P&C insurers achieve COR below 100%.

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