Non-life

IRDAI mandates electronic insurance policies from 1 April 2024

March 30 2024

E-policies become mandatory for policies with sums insured over 100 (US$1.20) rupees or premiums of at least 10 rupees.

japan-pi-club-1-4-renewals-saw-further-rate-rises-amid-a-challenging-business-environment

Japan P&I Club sees tonnage drop amid further rate rises in 1.4 renewals

March 30 2024

7.5% rate increase for ocean-going vessels and a 10% increase for Naiko Class mark consecutive hikes for fifth and third year respectively.

improved-combined-ratio-sees-helias-ratings-affirmed-but-macro-challenges-ahead

Improved combined ratio helps see Helia's ratings affirmed, but macro challenges lie ahead

March 30 2024

Helia proactively reviews underwriting criteria to tackle expected business volume pressures, from factors such as rising mortgage rates.

High Court rules US$10bn aircraft lessor-reinsurer dispute to proceed in London, not Moscow

March 30 2024

Aircraft lessors' claim against reinsurers to be heard in London to ensure trial fairness, rules Judge.

nan-shan-generals-ratings-affirmed-with-strong-growth-in-motor-travel-and-commercial-lines

Nan Shan General's ratings affirmed, with strong 2023 growth in motor, travel, and commercial lines

March 29 2024

Capital injection and return to high-single-digit ROE offsets concerns including heighted cat risk due to increased premium retention.

GIC completes majority stake acquisition of Miller

March 29 2024

Singapore's sovereign wealth fund becomes principal investor, as specialist (re)insurance broker looks to continue growth trajectory.

joshua-nguyen-moves-from-canopius-to-hdi-global-as-senior-underwriter-for-ah

Joshua Nguyen moves from Canopius to HDI Global Australia as A&H Senior Underwriter

March 29 2024

Nguyen joins HDI Global as Senior Underwriter for Accident & Health following 3 and a half years with Canopius.

Marsh launches cyber-only group captive entity

March 29 2024

Bermuda-based, cyber-only captive is designed for organisations looking for more control and stability in their cyber insurance programs, Marsh said.

China expands government-supported nat cat coverage

March 29 2024

China widens its nat cat coverage, expanding scope, to include disasters like typhoons and floods, while doubling coverage.

Qoala raises US$47m in Series C, led by PayPal Ventures and MassMutual Ventures

March 29 2024

Round will enable insurtech to broaden B2B2C offerings, integrate AI, and explore new products and strategic acquisitions, Qoala said.

Zurich Insurance elevates Tom Thornberry to Group Chief Claims Officer

March 28 2024

Thornberry has been with the business since 2012 and is promoted from his role as Global Head of Financial Lines, Cyber and Credit Lines Claims.

PVI Insurance receives 'aaa.VN' national scale rating from AM Best

March 28 2024

Profitable commercial and industrial lines lead to 92.7% COR in 2023, thought insurer has a heavy reliance on reinsurance to manage large commercial property, engineering, and energy risks.

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