Allianz officially opened China's first fully foreign-owned insurance holding company yesterday, positioning the global insurer for future growth and strengthening its proposition in the fastest growing economy in the world.
Chubb, the world's largest publicly traded property and casualty insurance company, has expressed its support of the signing of the Phase One trade agreement between the US and China.
The non-life insurance market is assessed as likely to have met its 5% growth target for 2019, the Thai General Insurance Association (TGIA) has said.
Defence Minister Ron Mark has asked the Defence Force for a national fire risk assessment to prevent a disaster like Australia's bushfires.
Taiwanese regulator Financial Supervisory Commission (FSC) has approved Nan Shan Insurance to work with electric scooter manufacturer Gogoro to provide legitimate usage-based insurance (UBI) policies for scooter riders, reported the Taipei Times citing an announcement from FSC.
The Financial Regulatory Authority (FRA) has agreed to grant the final approval for a licence to Union Insurance Brokerage, which is made up of a group of individual brokers.
Two of Australia's largest insurers have suspended sales of insurance policies to fire-affected areas in New South Wales and Victoria.
Many general insurance companies anticipate that premium income in the sector would increase this year by 1.5-3%, slowing down from 2019 when the premium growth rate is estimated at 5%.
Discussions are underway to form a catastrophe insurance pool in the Philippines as the local market looks to find a more sustainable solution for CAT coverage amid soft property rates.
Liberty Mutual Re (LM Re), part of Liberty Mutual Insurance Group, is the latest reinsurer to enter Singapore by setting up a new office and appointing Ms Annie Leong as the regional underwriting manager for Asia Pacific with immediate effect.