Rates/premiums

Indian Premier League insurance claims surge due to rain and injuries - report

May 23 2024

Insurers facing claims up to 1.5bn rupees (US$18m) for cricket tournament, with largest spike in five years likely to lead to rate hikes next year.

calls-for-home-buyback-scheme-following-revised-flood-modelling-in-melbourne-report

Victorian government urged to consider buybacks following update to flood models - report

May 21 2024

Updated maps label 900 homes flood-prone, with one resident telling The Age his insurance premiums have risen from AU$180 to AU$5000 per year.

Major Japanese insurers to raise fire premiums by 10% this year - report

May 9 2024

Four major Japanese insurers to raise premiums in October, marking first hike in two years.

Japan's corporate health rates set to hit record high in 2024 - report

April 25 2024

Japan's corporate health insurance societies face a record premium rate and a ¥657.8bn (US$4.25bn) deficit in FY 2024.

malaysian-life-industry-sees-strong-new-business-growth-overshadowed-by-claims-surge

Malaysian life industry sees strong 2023 new business growth overshadowed by claims surge

April 18 2024

Malaysia sees 11.6% new business growth but 14.9% surge in claims payouts amid rising medical costs.

Zurich climbs to third-largest general insurer in Hong Kong by GWP in 2023

April 17 2024

Zurich reports 12.8% GWP growth, Asia Insurance's GWP surges 36%, while AXA sees strong performance in premiums and claims, per IA data.

Reinsurers' credit ratings expected to remain stable following Baltimore Bridge collapse: Fitch

April 2 2024

Despite potential for record-breaking claims, syndication of reinsurance programme should see credit ratings remain stable.

1.4 renewals see 'dramatic shift' toward ample property cat reinsurance capacity: Aon

April 2 2024

Aon says favourable conditions continued for cedents during 1.4 renewals, while spotlighting an increasing appetite for facultative solutions.

japan-pi-club-1-4-renewals-saw-further-rate-rises-amid-a-challenging-business-environment

Japan P&I Club sees tonnage drop amid further rate rises in 1.4 renewals

March 30 2024

7.5% rate increase for ocean-going vessels and a 10% increase for Naiko Class mark consecutive hikes for fifth and third year respectively.

hong-kong-life-insurance-sector-begins-recovery

Agent channel continues to gain momentum despite Hong Kong life insurance dip in 2023

March 27 2024

New business premiums shrank 1.8%, but agent sales continue to gain traction amid year-long downturn in bancassurance and broker channels.

nrma-and-suncorp-provide-premium-cuts-through-bushfire-resilience-app

NRMA and Suncorp provide premium discounts through Bushfire Resilience App

March 21 2024

Aussie insurers team up with Resilient Building Council to reward households with reduced premiums for improving bushfire resilience.

losses-hit-singapores-motor-and-health-lines-of-business-for-third-time-in-five-years

Singapore's Motor and Health lines report underwriting losses for third time in five years

March 19 2024

Singapore's domestic General Insurance GWP tops SG$5bn (US$3.7bn), but underwriting profits dip as country's two largest lines of business record losses.

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