Non-life

Report: Bupa in talks to raise stake in India's Niva Bupa Health

June 23 2023

Bupa is in talks with PE firm True North to raise its take from 44.42% to up to 65%.

chubb-appoints-michael-odonnell-chief-operating-officer-of-global-reinsurance

Global: Chubb Appoints Michael O'Donnell as Chief Operating Officer of Global Reinsurance

June 23 2023

O'Donnell will oversee the strategic and tactical operations of Chubb Tempest Re's global operations.

chinese-regulator-urges-swift-claims-processing-for-yinchuan-gas-explosion-with-claims-expected-to-exceed-14-million-yuan-us1-95m

Claims expected to exceed 14m yuan (US$1.95m) as Chinese regulator urges swift claims processing for Yinchuan gas explosion

June 23 2023

At least 13 insurers are working swiftly to settle claims for families and victims of the tragedy.

AM Best: United Overseas Insurance looking to expand in the region

June 23 2023

AM Best affirmed UOI's financial strength and credit ratings and believes the Singaporean insurer has a stable outlook.

Korean Insurance Research Institute: shortage of skills and internal expertise is biggest obstacle to digital transformation

June 23 2023

Korean insurers appear to be making progress on digital transformation in the post-Covid 19 era, but barriers remain.

Fusion Specialty promotes Katherine Simmonds to Chief Executive, International

June 23 2023

In her new role, Simmonds will be responsible for developing Fusion's presence in APAC, UK, and EMEA.

asic-orders-pc-insurers-to-repay-au815m-to-5-6-million-consumers-due-to-systemic-pricing-failures

Australian P&C insurers to repay AU$815m (US$551m) due to systemic pricing failures

June 23 2023

ASIC says IAG is expected to pay AU$447.2m, RACQ AU$222m, and QBE AU$90.4m due to a failure to deliver on pricing promises.

picc-hk-maintains-excellent-ratings-with-am-best

AM Best: PICC HK maintains excellent financial strength and credit ratings

June 23 2023

The (re)insurer is developing its inward reinsurance portfolio and with its expansion to Macau can now provide motor policies which cover the greater bay area.

eight-chinese-insurers-receive-collective-fine-of-13m-yuan-us1-65m-for-price-fixing-student-insurance

Eight Chinese insurers receive collective fine of 11.8m yuan (US$1.65m) for price-fixing student insurance

June 22 2023

China’s State Administration for Market Regulation ruled the insurers created a monopoly to control the market and fix prices.

tokio-marine-newa-insurance-receives-fourth-capital-injection-to-meet-minimum-capital-requirements-after-surge-of-covid-19-payouts

Taiwan: Tokio Marine Newa receives fourth capital injection to help meet regulatory capital requirements in wake of Covid-19 claims

June 22 2023

TMNI needed to increase its risk-based capital ratio above 50% or risk being taken over by Taiwan's Financial Supervisory Commission.

icnz-over-nz1bn-us621m-paid-out-for-auckland-anniversary-weekend-floods-and-cyclone-gabrielle-so-far

ICNZ: Over NZ$1bn (US$621m) paid out so far for Cyclone Gabrielle and Auckland Anniversary Weekend Floods

June 22 2023

While 35% of claims have been settled, the Insurance Council of New Zealand's Chief Executive said there's still a long road ahead.

irdai-relaxes-go-to-market-rules-for-group-insurance-and-allows-combination-life-and-health-insurance-plans

IRDAI eases rules related to launch of group plans, enables 'combi' life & health products

June 22 2023

The Indian regulator has made the change as part of its ongoing aim to increase insurance penetration in the country.

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