The Japanese life insurer's underwriting profitability is set to bounce back from FYE 2024, contributing to Fitch Ratings maintaining their 'A-' Insurer Financial Strength rating.
In a strategic move to bolster its Asian market operations, Pacific Life Re announces the appointment of Vasan Errakiah as General Manager, Asia Markets.
Mo, a veteran insurance professional with over 30 years in financial services, will be Chubb's new Country President for its general insurance operations in Korea.
A surge in a volume of sponsorship deals has pushed the insurance sector's spending on sports sponsorships past US$1bn, with a notable increase in football partnerships, reports GlobalData.
Local media reports show that over the past five years, Korean insurance companies have experienced a tripling of claims payouts and a more than fourfold rise in the number of claims.
Hong Kong's Insurance Authority said the appointment of PWC representatives as Advisors was made to support Tahoe Life and protect the interests of the insurer's policy holders.
The Insurance Bureau has requested urgent updates on life insurer's positions and risk assessments related to the turmoil in China's financial markets.
