Non-life

Early May forecast predicts reduced 2024 typhoon activity for Northwest Pacific region

May 9 2024

TSR forecasts a potential 20% drop in 2024's Northwest Pacific typhoon activity compared with 30-year average.

australias-cyclone-reinsurance-pool-achieves-significant-coverage-but-still-faces-challenges-in-lowering-premiums

Cyclone Pool achieves broad coverage but some questions remain over premium reductions

May 9 2024

Pool reaches 95% coverage of eligible risks; however, data quoted by ARPC on premium reductions appears to conflict with findings from the ACCC and ACIL.

malaysian-re-leads-mnrb-to-record-performance-in-fy2024

Malaysian Re leads MNRB to best-ever financial performance in FY2024

May 9 2024

MNRB Holdings Berhad sees record-breaking year, with profits soaring to RM428.4m (US$90.34m), as Malaysian Re surpasses RM2.0bn in GWP/GWC for the first time.

Major Japanese insurers to raise fire premiums by 10% this year - report

May 9 2024

Four major Japanese insurers to raise premiums in October, marking first hike in two years.

ardonagh-set-to-acquire-australias-psc-insurance-in-deal-valued-at-au2-26bn

Ardonagh to acquire Australia's PSC Insurance for AU$2.26bn

May 8 2024

Anticipated acquisition confirmed in an ASX announcement, with AU$2.26bn (US$1.48bn) deal expected to be completed in late September.

irdai-fines-go-digit-for-non-disclosure-of-share-conversion-change

IRDAI fines Go Digit for failing to disclose share conversion ratio change

May 8 2024

IPO-bound Go Digit is fined 10m rupees (US$120k) for its reporting oversight.

arpc-warns-about-australias-cyber-terrorism-insurance-coverage-gap

ARPC warns about Australia's cyber terrorism insurance gap

May 8 2024

Exclusion of physical damage from cyber terrorism exposes businesses and has potential for (re)insurance industry backlash.

SCOR targets significant China growth - report

May 7 2024

Thierry Leger, CEO, predicts reinsurer's China premiums will double or triple over the next 10-20 years.

arch-insurance-australia-hires-michael-faulkner-in-newly-created-role-of-distribution-amp-engagement-lead

Arch Insurance Australia hires Michael Faulkner in newly created Distribution & Engagement Lead role

May 7 2024

Faulkner brings over two decades of Australian insurance industry experience to his new role.

byds-insurance-arm-receives-green-light-to-offer-statutory-auto-liability-insurance

BYD Property Insurance receives green light to offer statutory auto liability insurance in China

May 7 2024

Latest development comes following EV manufacturer's acquisition of insolvent Yi'an Property Insurance in May 2023.

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