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Financial Lines tag returned 132 results

  • Underwriting losses in credit & guarantee insurance business soar in 1H2020

    Credit and guarantee insurance business in China posted an underwriting loss of CNY9.54bn ($1.4bn) in the first half of this year, industry statistics show. Of this total, guarantee insurance business showed a loss of CNY7.94bn whereas credit insurance business was CNY1.6bn in the red for 1H2020.

    China | 07 Aug 2020
  • Australia: General insurance body backs class actions & litigation funding

    The Insurance Council of Australia (ICA) has voiced its support for the role that class actions have in providing access to justice for Australians as well as litigation funding industry.

    Asia | 29 Jul 2020
  • Indonesia: Credit insurers urged to evaluate portfolio

    The Indonesian General Insurance Association (AAUI) states that general insurers must begin evaluating the performance of credit insurance as lending practices are disrupted by the coronavirus pandemic.

    Asia | 21 Jul 2020
  • Willis Towers Watson promotes new regional head of financial solutions

    Willis Towers Watson (WTW) has announced the appointment of Mr Fabien Conderanne as regional head, financial solutions for Asia Pacific. He takes over from Mr Stuart Ashworth, who has been promoted to the global role of head of sales, innovation and client management in financial solutions within the corporate risk and broking business.

    People | 17 Jul 2020
  • China: Insurers turn wary on credit business

    Several P&C insurers are becoming wary of underwriting credit insurance, as losses in this class of business mount. This represents a U-turn on the eagerness which insurers had shown in previous years when credit insurance was considered a lucrative branch.

    Asia | 09 Jul 2020
  • 2 insurers provide liability cover in Tencent-Lao Gan Ma legal suit

    Two insurers are on the sidelines of a dispute between China's biggest video game and social media firm, Tencent, and Guiyang-based chilli sauce maker Lao Gan Ma, one of China's best known food brands.

    China | 03 Jul 2020
  • Indonesia: Govt to launch credit insurance plan for MSMEs

    The government has unveiled a new rule to guarantee working capital loans for micro, small and medium enterprises (MSMEs) in a bid to encourage banks to grant credit to these businesses whose operations have been heavily disrupted by the COVID-19 pandemic.

    Asia | 03 Jul 2020
  • China: Claims made on insurers in fraud cases unveiled in US-listed Chinese companies

    Claims have been lodged against China's biggest non-life insurer PICC P&C and several other insurers in a second separate fraud case in three months involving a Nasdaq-listed mainland Chinese company.

    Asia | 01 Jul 2020
  • PICC denies liability to compensate for deficient gold inventory

    PICC P&C has refuted talk that it is liable to compensate Nasdaq listed Kingold Jewelery (KGJI) for the deficient weight or quality of physical gold that had been pledged as collateral for loans granted by lenders and for which the insurer had provided a guarantee.

    China | 26 Jun 2020
  • Aviva launches a fraud hub to help customers avoid COVID-19 scams

    Aviva has launched a Aviva Fraud Hub that contains practical tips around avoiding scammers and how to spot something that's not quite right before it's too late. A part of the website www.aviva.co.uk, the hub resources will be regularly updated as fraudsters tactics evolve.

    Asia Risk | 24 Jun 2020

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