Business type

Further rule changes being considered to increase insurance penetration: IRDAI Chairman

June 15 2023

Debasish Panda told Bloomberg that the IRDAI is looking into further law amendments including capital requirements, registrations, and value-added services.

bolttech-partners-with-taiwan-mobile-to-offer-insurance-products-underwritten-by-fubon

Bolttech and Taiwan Mobile launch insurance partnership underwritten by Fubon

June 15 2023

The partnership beings with travel insurance but is expected to expand to cyber, auto, and personal injury in future.

iag-expects-to-exceed-perils-allowance-for-the-seventh-time-in-eight-years

IAG expects perils cost to hit AU$2.9bn (US$1.99bn) and exceed perils allowance for the seventh time in eight years

June 15 2023

At its Investor Day, IAG executives revealed rate hikes, expected perils costs, and expected business achievement for 2023.

report-pe-firm-ta-associates-exploring-sale-of-australian-broker-honan

Report: PE firm TA Associates exploring sale of stake in Australian broker Honan

June 15 2023

Discussions are in early stages, but it's understood investment funds and other industry players are interested in a deal which would value Honan at between US$300m-$400m.

fitch-affirms-lloyds-and-lloyds-china-ifs-rating-at-aa-despite-2022-loss-and-environmental-exposure

Fitch affirms Lloyd’s and Lloyd's China IFS rating at 'AA-' despite US$1bn loss and Nat Cat exposure

June 15 2023

The (re)insurance marketplace recorded a 91.9% combined ratio in 2022 but was hit by valuation losses in its bond portfolio.

AXA Hong Kong and Macau launch comprehensive plan to cover domestic helpers

June 15 2023

The SmartHelper Plus covers medical expenses for domestic helpers and coverage for employers for various situations, including when a helper leaves without notice.

Chubb launches Cyber Central platform for brokers and agents

June 15 2023

Cyber Central helps simplify the quote process for cyber, technology E&O, and miscellaneous professional liability.

india-to-require-all-insurance-policy-holders-to-create-health-id-number

India to require all insurance policyholders to have associated health ID number

June 15 2023

All policy buyers and holders will need an ABHA ID number which the regulator says will improve transparency, increase trust, and reduce fraud.

customer-data-likely-stolen-as-a-cyber-attack-hits-two-prudential-companies-in-malaysia-1

Customer data likely stolen as global cyber attack hits two Prudential companies in Malaysia

June 14 2023

The attack was part of the global MOVEit data-theft attack and is likely to have led to the theft of agent and customer data.

IRDAI: Some insurance entities are failing to adhere to cyber incident guidelines

June 14 2023

The Indian regulator issued a circular to make it clear that all insurance entities need to abide by its cyber incident protocol.

Insurance Council of Australia praises AU$800m Northern Rivers home buyback

June 14 2023

The buybacks are occurring in areas most at risk of life-threatening floods and as part of the Resilience Home Program.

Report: Zurich looks to strengthen presence in South Asia with US$400m investment on India's Kotak General Insurance

June 14 2023

Advanced discussions are underway for Zurich to acquire up to 51% ownership, though Uday Kotak prefers to maintain control.

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