(Re)in Essence Plus

Indonesian insurtech PasarPolis reports 250% GWP increase for 2023

April 1 2024

Founder says insurtech is aiming aims to fully underwrite its products alongside 50% CAGR growth over the next four years.

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.

korean-insurers-profits-soar-45-5-in-first-year-under-ifrs-17

Deferred acquisition costs under IFRS 17 see Korean insurers' profits soar 45.5%

March 27 2024

Industry sees 6% fall in overall premium income, but life insurers' net profits rise 37.6% and non-life's soar 50.9%, in first year under IFRS 17.

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.

major-claim-looms-for-pi-clubs-after-singapore-flagged-ship-causes-collapse-of-baltimore-bridge

Major claims loom for P&I Clubs and reinsurers after Singapore-flagged ship causes collapse of Baltimore Bridge

March 26 2024

Container ship collided with bridge, causing it to collapse and sending people and vehicles into the Patapsco River, with initial estimates suggesting damage could run into the billions.

kidi-to-support-development-of-risk-assessment-database-in-vietnam

KIDI to support development of risk assessment insurance database in Vietnam

March 25 2024

Korea Insurance Development Institute enhances partnership with VIDI, to help strengthen Vietnam's insurance capabilities.

tokio-marine-becomes-first-japanese-insurer-to-issue-sdb-based-nat-cat-bond

Tokio Marine becomes first Japanese insurer to issue SDB-based cat bond

March 22 2024

Proceeds of US$100m Kizuna Re III will go toward Sustainable Development Bond to fund ESG projects in IBRD member countries.

Australian Federal Court rules in favour of Auto & General in ASIC legal battle over policy terms

March 22 2024

Federal Court rules policy term, requiring notification of property changes, does not violate the ASIC Act.

aerial-and-satellite-images-employed-to-fast-track-noto-peninsula-quake-claims

Noto earthquake claims rise to 115k, with 59% paid: GIAJ

March 22 2024

Latest numbers show accepted claims have increased from 67k at end Jan, though good progress has been made with 83% of investigations now completed.

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.

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