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perils-pegs-initial-loss-of-australias-2023-christmas-storms-at-au1-4bn

PERILS pegs initial loss estimate of Australia's 2023 Christmas Storms at AU$1.4bn

February 14 2024

PERILS's first insurance loss estimate, for storms, that hit QLD, VIC, and NSW between 23 and 29 Dec, is AU$1.4bn (US$900m).

irdai-unveils-draft-regulations-for-indias-new-electronic-insurance-marketplace-bima-sugam

IRDAI unveils draft regulations for India's upcoming digital insurance marketplace, Bima Sugam

February 14 2024

The ambitious marketplace is being developed as a 'one stop shop' to improve insurance penetration in the country.

Skuld issues notice of cancellation for Red Sea War Risk cover

February 14 2024

Skuld announces cancellation of certain war risks after it received notice of cancellations from reinsurers.

wtw-and-solomon-agency-partner-on-north-american-exposure-of-south-korean-and-vietnamese-firms

WTW and Solomon Agency Corp partner on North American exposure of Asian businesses

February 14 2024

Strategic co-brokerage agreement aims to deliver tailored insurance solutions to South Korean and Vietnamese companies operating in North America.

Transitional measures give Korean insurers time to strengthen balance sheets

February 14 2024

Korean insurers capital ratios are 20% stronger thanks to transitional measures introduced by regulators, but these have a limited timespan.

bupa-launches-au20m-venture-fund-to-support-healthcare-startups

Bupa APAC launches new venture fund to support healthcare startups

February 13 2024

Bupa Ventures AU$20m aims to support Seed to Series A healthcare start-ups across APAC.

japanese-property-insurers-to-maintain-gwp-growth-and-stable-loss-ratio-amid-earthquake-risks-globaldata

Japanese property insurers to maintain GWP growth and profitability amid earthquake risks: GlobalData

February 13 2024

Segment likely to remain stable, supported by government backing, reinsurance risk management, and rate adjustments.

Insurtech MediConCen secures US$6.85m in Series A funding

February 12 2024

Hong Kong insurtech will target Middle East and Southeast Asia growth with latest investment round, which was led by HSBC Asset Management.

japanese-non-life-insurers-told-to-offload-cross-held-shares-in-wake-of-price-fixing-probe

Japanese insurers told to offload cross-held shares in wake of price-fixing probe - report

February 12 2024

Concerns over influence of strategic shareholdings have prompted Japan's FSA to order insurers to divest from cross-held shares.

axa-xl-creates-new-global-specialty-branch-and-appoints-anne-marie-elder-cuo

Global: Anne Marie Elder appointed CUO of AXA XL's newly created Global Specialty branch

February 9 2024

Elder is tasked with leading the strategic direction and supporting growth in Marine, Aerospace, and Specialty Niche portfolios.

Pacific Prime expands to Australia

February 9 2024

Days after acquiring a Malaysian broker, Pacific Prime reaffirmed its commitment to APAC growth by announcing it had opened shop in Australia through key hire of Michael Atta.

AM Best affirms and then withdraws ratings for Shanghai Electric's captive insurer

February 8 2024

AM Best affirms and subsequently withdraws Shanghai Electric Insurance's 'Good' ratings upon company's request.

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