Asia Pacific

HDI adds Scor’s Ahn to lead Hong Kong unit as Lau oversees intl programs

Industrial lines insurer HDI Global has reshuffled its Asia Pacific leadership with Michael Ahn named CEO of HDI Global SE Hong Kong.

Ardonagh’s A$2.3bn swoop for Australia’s PSC handed regulatory approval

Australia's PSC Insurance Group has said its pending sale to the Ardonagh Group has received all necessary regulatory approvals, with only a greenlight from shareholders needed to complete the A$2.3bn ($1.5bn) deal.

Parametric insurer Paratus covers jet fuel price risk for Southeast Asian airline

Specialist price risk insurer Paratus has announced what it calls the world’s first jet fuel price insurance policy.

Howden acquires Foresight for Japanese retail launch

Howden has entered the Japanese retail insurance broking market through the acquisition of Foresight Holdings, with Takuya Aibe named CEO.

AM Best: Reinsurers to absorb bulk of Typhoon Yagi losses

Reinsurers are likely to absorb the majority of losses from Typhoon Yagi in Vietnam, according to AM Best, which could potentially test reinsurers’ appetite for regional cat risks at the upcoming 1.1 renewals.

Ardonagh Group appoints Mitchell to bolster Asia expansion

The Ardonagh Group has appointed Mark Mitchell to bolster the expansion of its business operations in Asia.

CelsiusPro Australia parametric program paid $237k to cotton farm after May rainfall

A New South Wales farm received A$354k ($237k) after its parametric insurance program with CelsiusPro was triggered by rainfall during the cotton harvest in May.

Tokio Marine Kiln strengthens APAC marine offering

Tokio Marine Kiln has expanded its presence in Asia Pacific with the appointment of Stephanie Hong as a marine underwriter for the region.

AM Best: APAC reinsurers to scrutinise cat XoL treaties for domestic insurers

Incurred losses in catastrophe excess of loss treaties from the Taiwan earthquake in April will be a focus for domestic primary insurers at the upcoming January 2025 renewals, AM Best has warned in a new regional report.

Indian govt proposes to sell up to 6.8% stake in insurer GIC

3 September (Reuters) – The Indian government has proposed to offload a stake of about 6.8% in General Insurance Corp of India (GIC), an exchange filing showed on Tuesday.

Miller launches Krishnan-led sports and entertainment offering in Asia

Miller has expanded its sports and entertainment business into the Asia Pacific market with the appointment of Siva Krishnan.

Aviva conspired to dodge India compensation and tax rules, agency says

By Aditya Kalra and Nikunj Ohri (Reuters) – An Indian tax agency has found that Aviva breached local regulations capping commissions to sales agents with a system of fake invoices and clandestine cash payments, according to a notice seen by Reuters.

Shanshan tracks towards northeast Japan as tropical depression

Typhoon Shanshan continued to track northeast across Japan over the weekend, reducing in strength after wreaking significant damage in southern parts of the country last week.

Indonesia drought triggers parametric payout to 855 Nescafé farmers

Payouts totalling $23,000 were made in April on a parametric program for Indonesian coffee farmers delivered by consortium Blue Marble.

Agile strengthens Lloyd’s presence in the Pacific with New Zealand operation

Australian MGA Agile Underwriting Services has expanded its territorial footprint to New Zealand in general aviation, accident and health, casualty and professional lines.

Typhoon Shanshan makes landfall in Japan

Typhoon Shanshan is tracking across southwest Japan this morning after making landfall overnight close to the city of Satsumasendai.

Cyclone Jasper insured loss bill rises to A$369mn

Insured losses from ex-Tropical Cyclone Jasper have reached A$369mn ($251mn), according to new data released by the Insurance Council of Australia.

Euclid Transactional launches Singapore-based Asia Pacific branch led by Ho

M&A-focused MGA Euclid Transactional has launched in the Asia Pacific region with a new office in Singapore, and has brought aboard a team led by former Clifford Chance attorney Alice Ho.

BHSI strengthens property and energy in Asia with Prakash and Yuen promotions

Berkshire Hathaway Specialty Insurance has bolstered its capabilities in Asia with the appointment of Kiran Prakash as head of first-party lines, overseeing energy, construction and general property.

IAG reports 79% jump in full-year insurance profit to A$1.44bn

IAG has reported an insurance profit of A$1.44bn ($971mn) for the 2024 fiscal year, up 79 percent on the prior year and at the top end of its guidance range of A$1.20bn to A$1.45bn.

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