130 executives face temporary salary reductions up to 50%, as insurers submit business improvement plans following investigation into co-insurance policy collusion.
Estimated losses are small compared to 2011's Great East Japan Earthquake, with Fitch echoing announcements from Moody's and AM Best that the credit impact on non-life insurers should be manageable.
PGA Sompo's five-year average COR of 52.2% contributes to rating upgrade, which were later withdrawn by the Filipino insurer's decision to discontinue participation in the ratings assessments.
Sompo International taps Pei Ru Chiew to spearhead its Crisis Management and Commercial P&C Insurance in APAC, leveraging her deep expertise to meet the escalating demands for political violence and...
Both Bigmotor Co. and Sompo Japan are under fire as the FSA digs deeper into an insurance fraud scandal, resulting in multiple high-profile resignations including Sompo Japan's President earlier this...
In the aftermath of fraud accusations against Bigmotor, President Giichi Shirakawa of Sompo Japan steps down — acknowledging hasty decision to resume transactions with the car dealer.
