Attack on KMAX Ruler, which was due to transport iron ore to China, led to a fatality and injuries to Filipino crew, prompting a sharp increase in marine war risk premiums.
Rainfall in September and October falls to 71% and 65% below average respectively, with Bureau of Meteorology predicting sustained dry conditions as El Niño and associated risks takes hold.
Ergo-Fesco Insurance Brokerage and BMW (China) granted approval to set up operations, as the NAFR looks to increase foreign investment in the domestic (re)insurance industry.
The campaign releases seventh annual scorecard, with Australia's QBE highest ranked among Asia Pac (re)insurers, Japanese insurers middle of the pack, and Chinese insurers propping up the table.
Ping An Insurance said Reuters report, alleging Chinese authorities directed the insurer to assume control of embattled property developer Country Garden, is 'completely untrue'.
Sumitomo Life injects further SG$180m (US$133m) into Singlife, while in the midst of finalising US$900m acquisition of Aviva Group's stake in the Singaporean insurer.
