Motor

Bigmotor scandal yet to dent Sompo share price as Group CEO exits

January 30 2024

Sompo accused of ‘valuing profits over customer interests’ by the FSA in a business improvement order.

sp-insurers-well-placed-to-meet-cyclone-jasper-and-ongoing-queensland-floods-claims

Insured losses from Cyclone Jasper and Christmas and New Year storms hit AU$743m: ICA

January 24 2024

AU$202m (US$133m) of industry losses estimated from Jasper and AU$541m (US$357m) from Christmas/New Year storms, as QLD prepares for another cyclone to make landfall this week.

EV market expansion spurs opportunities for insurer-manufacturer collaboration

January 22 2024

Strategic partnerships that combine vehicle data with expertise in claims handling and risk assessment can lead to improved insurance products.

australian-motor-insurance-market-to-grow-to-us23-9bn-by-2028

Australian Motor Insurance segment to grow to AU$35.1bn by 2028

January 17 2024

GlobalData estimates CAGR of 9.9%, fueled by vehicle sales and growth of EVs.

fsa-to-issue-business-improvement-order-to-sompo-japan-over-bigmotor-fraud-reports

FSA to issue business improvement order to Sompo Japan - reports

January 16 2024

Watchdog to mandate Sompo improve operations after probe reveals internal process failures related to dealings with used car dealer Bigmotor Co.

Aussie Christmas storm claims surge to nearly 38k as ICA extends cat declaration

Aussie Christmas storm claims surge to 38k as ICA extends cat declaration

January 3 2024

Council extends insurance catastrophe declaration to cover East Coast storms, rain, and flooding in the New Year.

Gold Coast bears brunt as ICA declares 'Insurance Catastrophe' for Christmas storms

December 29 2023

QLD, NSW, and VIC claims surge past 18,000 with Gold Coast accounting for over 10,000.

Australia battered by severe Christmas Storms

December 27 2023

QLD, NSW and VIC hit by flash floods, hailstorms, and strong winds as ICA declares 'Significant Event'.

South Korean motor insurance market anticipated to exceed US$19bn by 2028

December 22 2023

GlobalData says rising quantity and value of vehicle sales will outperform shift to digital and more competitive pricing environment.

globaldata-chinas-gi-industry-on-track-for-us361bn-of-gwp-by-2028

Motor will continue to drive China's GI industry to US$361bn GWP in 2028

December 21 2023

GlobalData predicts 7.4% CAGR over five years for China's general insurance market, driven by economic recovery and regulatory reforms.

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Stable outlook for Malaysia’s non-life market amid increased motor and property competition

December 19 2023

AM Best maintains stable outlook with improving economic conditions and low insurance penetration balancing nat cat and hard market conditions.

Hong Kong: Swiss Re set to acquire EC policies from liquidated Target Insurance

December 15 2023

Insurance Authority announces transfer of 27 employees' compensation and four contract-all-risk policies, pending final approval.

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