Motor

Samsung Fire & Marine follows other Korean insurers by reducing motor rates amid rising cost of living pressures

February 7 2024

Heeding call from the government, Samsung F&M spearheads 2.8% cut, with industry peers having already cut between 2.5% to 2.6%

nat-cat-infrastrucutre-and-health-demand-to-drive-vietnam-gi-growth

Nat Cat, infrastrucutre, and health to drive Vietnam GI growth

February 1 2024

GlobalData forecasts growth of segment to VND 98.3 trillion (US$3.9bn) in GWP by 2028.

new-directive-likely-to-deflate-profitability-of-sri-lankas-non-life-segment-fitch

New motor SRCC directive likely to deflate profitability of Sri Lanka's non-life segment: Fitch

February 1 2024

Directive requires Sri Lankan non-life insurers to transfer 100% of SRCC-related motor premiums to state-run NITF.

am-best-japans-non-life-sector-hold-steady-amid-challenges

AM Best: Outlook for Japan's Non-Life segment holds steady amid challenges

January 31 2024

With efforts to improve profitability and a strong capital position, Japan's GI industry received a stable outlook despite nat cat and macroeconomic challenges.

ICA calls for AU$500m annual fund for flood risk mitigation

January 31 2024

ICA's Pre-Budget submission call for AU$500m (US$329m) in flood-mitigation funding and extension of the Disaster Ready Fund, among other initiatives.

APRA increases Auto & General capital requirement by AU$50m

January 30 2024

Following review, regulator mandates risk remediation program and increases capital requirement by AU$50m (US$33m).

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.