Motor

AXA unveils decarbonization targets and releases 2023 climate and biodiversity report

June 30 2023

AXA has, announced new decarbonization targets and released its 2023 Climate & Biodiversity report, which sets ambitious carbon reduction targets by 2030. The company said that it aims to achieve...

racq-to-withdraw-from-queenslands-compulsory-third-party-insurance-scheme-1

RACQ withdraws from Queensland’s Compulsory Third-Party motor Scheme

June 28 2023

RACQ cited inequality in the scheme's structure, which has led to significant losses for the insurer.

am-best-maintains-stable-outlook-on-south-koreas-pc-segment-despite-new-guidance-on-actuarial-assumptions

AM Best maintains stable outlook for South Korea's P&C segment despite new IFRS 17 guidance

June 28 2023

High-margin health products set to provide stable growth despite pressure on motor segment's combined ratio and concerns about IFRS 17 assumptions.

thailands-pc-insurance-market-set-to-reach-us11bn-by-2027-driven-by-motor

Thailand's P&C market set to reach US$11bn by 2027, driven by motor

June 27 2023

The government's efforts to promote motor insurance awareness and ongoing infrastructure projects present both opportunities and challenges for insurers operating in the dynamic Thai market.

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.

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.

south-koreans-db-insurance-takes-vietnamese-bull-by-the-horns-with-75-stake-in-saigon-hanoi-insurance

South Korea's DB Insurance takes Vietnamese bull by the horns with 75% stake in Saigon-Hanoi insurance

June 19 2023

DBI strengthens its Vietnamese presence further, following its acquisition of a 75% stake in Aviation Insurance in February.

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.

indias-online-insurer-policyboss-gets-series-b-funding-boost-1

India's PolicyBoss gets Series B funding lift

June 8 2023

The funds are going to be used to improve the digital insurer's technology infrastructure and strengthen its last-mile presence.

hong-kong-liquidated-target-insurance-claims-it-is-close-to-securing-funding-of-us680m-for-new-uae-venture

Hong Kong: Liquidated Target Insurance claims it's close to securing funding of US$680m for new UAE venture

June 6 2023

While liquidators are still working to recover money from its Hong Kong business, Target announced they'd received letters of intent to fund its UAE subsidiary, Himalayas Insurance.

MGA & Lloyd's syndicate Volante launches Singapore Office

June 1 2023

Veteran Amy Fu will lead the office as the (re)insurer seeks to build its presence across Asia Pacific.

motors-underwriting-crash-sees-hong-kongs-pc-profits-slump-40

Q1 sees Hong Kong's P&C profits slump 40% as motor underwriting crashes

May 31 2023

Despite gross premiums remaining steady, underwriting profit dropped to HK$485m in the first quarter.

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