News

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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%.

Australian Competition Tribunal approves ANZ's acquisition of Suncorp's banking business

February 20 2024

Tribunal overturns ACCC's decision, paving way for AU$4.9bn (US$3.2bn) acquisition, with Group CEO commenting the move will significantly strengthen Suncorp's ability to meet evolving insurance needs.

Pacific Century Group says Richard Li to maintain control of FWD amid stake sale rumours - reports

February 19 2024

Parent company issued statement expressing Li's confidence in long-term development, but declined to comment on speculation regarding a stake sale.

howden-ceo-predicts-commercial-insurance-rates-will-flatten-this-year-report

Howden CEO says commercial rates should flatten this year - report

February 19 2024

In an interview with the FT, David Howden predicts increase in (re)insurance capacity and end to a 25-quarter hard market.

APRA introduces standardised terminology for large exposure reporting

February 19 2024

Standardised counterparty and exposure description lists aim to improve data quality and comparability.

India's Policybazaar eyes reinsurance market following licence upgrade

February 19 2024

In-principle approval for Composite Insurance Broker license signals a strategic move into reinsurance.

QBE Insurance’s profit more than doubles on strong premium growth

February 16 2024

Despite challenges from inflation and catastrophe claims, QBE reports a significant profit increase and optimistic underwriting outlook for 2024.

Japan P&I Club withdraws Red Sea war cover

February 16 2024

Association said it issued a notice of cancellation after its reinsurers decided to terminate support for war risks.

Insurance Council of Australia labels Victoria's Valentine's Day storms a 'Significant Event'

February 16 2024

Storms left half a million without power and have led to nearly 10,000 claims so far.

PERILS: Cyclone Gabrielle's final insurance loss estimate at NZ$2.17bn

February 16 2024

Industry loss estimate increases to NZD 2.174bn (US$1.33bn); contributing to record NZ$4.4bn in losses when combined with Auckland Anniversary Weekend Floods.

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