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Property & Casualty tag returned 2866 results

  • Wholly Korean-owned P&C insurer changes name

    Korean-owned property insurer LIG China has received approval from the Jiangsu Banking and Insurance Regulatory Bureau to change its name to Kaiben Property Insurance (China). The new name entered into effect earlier this month.

    China | 16 Apr 2021
  • Chinese insurers' exposure to climate-related CAT events grow

    Environmental risks are becoming an increasingly important credit driver for Chinese insurers as their exposure to climate-related catastrophic events and decarbonisation policies grow, especially for property and casualty (P&C) insurers, says Moody's Investors Service.

    China | 16 Apr 2021
  • 5 major listed insurance groups post weaker 1Q2021 total premium growth

    In the first quarter of 2021, the five major listed insurance groups posted a 2.64% increase in aggregated total premium income to CNY973.2bn ($149.2bn).

    China | 16 Apr 2021
  • Regulator to impose regulations to reduce overpricing in accident insurance business

    The CBIRC has issued a set of draft regulations, that standardises for the first time the accident insurance business of property and life insurance companies. The goal is a unified set of rules for property and life insurers that will help prevent possible regulatory arbitrage behaviour by insurers.

    China | 16 Apr 2021
  • Australia: Homeowners spend on home aesthetics, shun disaster resilience

    Eight in 10 homeowners show little interest in spending to make their home more resilient to natural disasters, according to research commissioned by insurance, banking and finance group, Suncorp.

    Asia | 16 Apr 2021
  • Qatar: Non-underwriting operations shore up QGIRC's performance

    Earnings from real estate investments and developments have become the key drivers of operating performance for Qatar General Insurance & Reinsurance Company (QGIRC), says AM Best.

    Middle East | 15 Apr 2021
  • India: Non-life sector reports 5.2% rise in gross premiums in FY2021

    Gross premiums underwritten by non-life insurers grew by 5.2% to INR1.99tn ($26.4bn) for the financial year ended 31 March 2021 (FY21), according to preliminary data from the IRDAI.

    Asia | 14 Apr 2021
  • Bangladesh: Average insurance policy lapse rate seen as at least 50%

    An analysis of the financial reports of insurance companies in Bangladesh over the previous five years shows that an average, half of all insurance policies purchased in a year lapsed after the payment of the first-year premium.

    Asia | 14 Apr 2021
  • China: Taikang Insurance Group's ratings outlook improves

    Taikang Insurance Group's stable operating results and solid capital strength, despite challenging market conditions associated with the outbreak of the coronavirus pandemic, has led to Fitch Ratings to revise the outlook on Taikang Group's Long-Term Issuer Default Rating and its core life subsidiary's-Taikang Life Insurance -Insurer Financial Strength (IFS) Rating to 'Stable', from 'Negative'.

    Asia | 14 Apr 2021
  • Lebanon: At least 16,000 Beirut Port-related claims amounting to US$1.1bn received

    Insurers in Lebanon have received at least 16,000 claims for estimated losses of close to $1.1bn from last year's 4 August Beirut Port explosions, according to the latest report released in February by the Insurance Control Commission (ICC), Lebanon's insurance regulator. Only $60m of this total has been settled so far.

    Middle East | 13 Apr 2021

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