Despite a 10% decrease in capital and surplus, DSI maintains very strong risk-adjusted capitalisation and plans to diversify its underwriting portfolio, while reducing offshore reinsurance.
In its 22-23 report, the Australian Prudential Regulation Authority summarised work it undertook to enhance sector resilience and improve policyholder outcomes, while acknowledging escalating challenges...
GWP forecast to hit SG$7.35bn (US$5.5bn) by 2028 thanks to increasing demand and new regulations, but growth slowdown anticipated due to economic and geopolitical challenges.
The Auckland High Court has ordered the insurer, a subsidiary of Suncorp New Zealand, to pay the reduced fine for failing to apply multi-policy discounts to nearly 42,000 customers
A model created by Lloyd's predicts that a food supply shock event could result in between US$3 trillion to US$18 trillion in global economic losses, with Greater China and APAC most vulnerable.
The disasters encompassed diverse events, including an avalanche in Nyingchi, Tibet, heavy rains in Henan Province affecting the harvest, and Typhoon Doksuri leading to catastrophic floods in the Hai River...
The solution will use TPIsoftware's InsureBrick framework to build a customised system aimed at enhancing the P&C insurer's efficiency, flexibility, and customer service.
AM Best continues to project a negative outlook for Indonesia's non-life insurance sector, citing increased reinsurance credit risk and pressure on underwriting margins as key factors.
Bima Vistaar is an innovative insurance product which combines property, life, and health insurance into a single policy and which has on user-friendly terms and digital verifications.
Amid global macroeconomic challenges, Marsh reports that the APAC captive premiums it manages surged by 58% between 2020 and 2022, significantly outpacing other global regions.
