The recent high-profile closures of Signature Bank and Silicon Valley Bank are expected to have limited impact on Asian financial institutions according to credit ratings agency Moody's. Regulators in the US closed Signature Bank two days after shutting Silicon Valley Bank following mass withdrawals.
Nearly 50% of insurance professionals anticipate that their greatest long-term source of competitive advantage will be the way in which they leverage technological capabilities according to an industry-wide survey on the future of insurance by 2040 conducted by ACORD.
Reduced pricing, coupled with the loosening of pandemic controls in China, should result in a more favorable M&A environment and improved transactional risk insurance utilisation in Greater China in 2023, says Marsh, the world's biggest insurance broker.
The demand for W&I insurance in Southeast Asia remained consistent in 2022 while M&A deal activity was more muted than usual during certain times of the year, says the global leading insurance broker Marsh.
The average W&I insurance premium rate increased slightly in 2022 in Japan to 2.4% from 2.3% year on year, whereas the hike was bigger in South Korea, climbing to 3.1% in 2022 from 2.4% in 2021, notes Marsh which is the world's foremost insurance broker.
The Capital Market Authority (CMA) has organised a meeting to introduce insurers to the new standard credit life insurance policy.
Demand for transactional risk insurance solutions in Asia is expected to remain steady in 2023, and may even improve, says Marsh which is the world's leading insurance broker.
The shareholders of the listed investment consulting company Shanghai DZH have won damages totalling CNY335m ($48.5m) for securities fraud and the failure of the company to take action against directors involved in the fraud. The success of this case may spur more listed companies to take up D&O liability insurance.
Composite insurance pricing in the Pacific region increased 5% in the fourth quarter of 2022, the same as in the prior quarter, according to the 4Q2022 "Global Insurance Market Index" report released last week by leading global insurance broker Marsh.
Insurance pricing in the fourth quarter in Asia increased by 2%, the same as in the prior quarter, according to the 4Q2022 "Global Insurance Market Index" report released yesterday by leading global insurance broker Marsh.