Fire premium rate increases expected in Japan says Fitch

Fire premium rate increases expected in Japan says Fitch

Fire premium rate increases expected in Japan says Fitch

Major premium rates increases are expected in the Japanese fire business line, according to Fitch Ratings. It pointed to planned premium increases but said the further hikes would be required. Fitch said that Japan’s three non-life groups – Tokio Marine Holdings, Sompo Holdings and MS&AD Insurance Group Holdings – have maintained strong capital buffers despite record-high weather-related losses of JPY1.6trn…

El Al is first airline to access Marsh’s Japanese aircraft finance insurance

El Al is first airline to access Marsh’s Japanese aircraft finance insurance

El Al is first airline to access Marsh’s Japanese aircraft finance insurance

EL AL Israel Airlines Limited (EL AL) is the first airline to access Marsh’s Japanese Aircraft Finance Insurance Consortium (Japanese AFIC) to support the purchase of Boeing aircraft. The consortium was launched in June 2017 by Marsh to provide an alternative aircraft finance insurance product for banks and capital market investors that are funding Boeing aircraft. Available exclusively through Marsh,…

Parima hosts disaster preparedness event as region steps up risk reduction efforts

Parima hosts disaster preparedness event as region steps up risk reduction efforts

Parima hosts disaster preparedness event as region steps up risk reduction efforts

Parima will hold its annual conference on disaster preparedness and response on 29 July at the HKAM Jockey Club Building in Hong Kong. The risk and insurance management association said the event will bring together experts and practitioners, government officials, scientific and academic institutions, the NGO sector and the private sector, to share experiences and discuss strategies for disaster preparedness…

Parima joins Labuan captive meeting as Asia-Pacific growth continues

Parima joins Labuan captive meeting as Asia-Pacific growth continues

Parima joins Labuan captive meeting as Asia-Pacific growth continues

Steve Tunstall, general secretary of Parima, will represent the association at a conference on captives, organised by Labuan International and Business Financial Centre and Swiss Re Corporate Solutions, as evidence mounts of the increased interest in the self-insurance tools among Asian risk and insurance managers. Mr Tunstall, a founding member of the Parima leadership team, is set to take part…

Rising demand for credit insurance as economic concerns rise in Asia-Pacific

Rising demand for credit insurance as economic concerns rise in Asia-Pacific

Rising demand for credit insurance as economic concerns rise in Asia-Pacific

There is rising demand for credit insurance in the Asia-Pacific region, as a growing number of economic forecasts warn of slowing growth and rising insolvencies in the region. Businesses in the area are also taking a more strategic approach to credit management as they wake up to the macroeconomic threat, according to credit insurance experts. The latest analysis from credit…

Payment delays cloud Asia-Pacific outlook

Payment delays cloud Asia-Pacific outlook

Payment delays cloud Asia-Pacific outlook

Slowing trade growth in many Asia-Pacific countries is prompting businesses in the region to increase their use of trade credit in B2B transactions, according to credit insurer Atradius. Although the region is still the main growth engine for the global economy, and domestic demand remains robust, a number of negative risks are clouding the outlook, Atradius warns. An Atradius survey…

Japan’s Big Three set to resume M&A

Japan’s Big Three set to resume M&A

Japan’s Big Three set to resume M&A

Major natural catastrophes in 2018 put a brake on the global M&A plans of Japan’s domestic insurers, but carriers will resume inorganic growth in the medium term, according to AM Best. In the meantime, Japan’s non-life insurers are under pressure to rebuild their catastrophe reserves amid rising reinsurance costs that resulted from a catastrophe loss-heavy year in 2018, according to…

FM Global survey shows mixed corporate governance picture for Asia

FM Global survey shows mixed corporate governance picture for Asia

FM Global survey shows mixed corporate governance picture for Asia

Singapore has emerged as the leading country for corporate governance according to the 2019 edition of the FM Global Resilience Index. The insurer’s index has been running for several years now but this is the first time that corporate governance has been added as one of the 12 economic, risk and supply chain-related metrics used to rank countries. Singapore ranked…

Ping An is most valuable insurance brand, again

Ping An is most valuable insurance brand, again

Ping An is most valuable insurance brand, again

Ping An is the world’s strongest and most valuable insurance brand, according to the latest report by Brand Finance, the brand valuation consultancy. Ping An retained its leading position and saw its brand value increase 93% to $50.5bn in 2019. Brand Finance said Ping An is seeing its investment in technology begin to pay off and reap benefits. “To attract…

Sompo adds new life sciences team

Sompo adds new life sciences team

Sompo adds new life sciences team

Sompo International Holdings has formed a new life sciences team within Sompo Global Risk Solutions. Led by Todd Lauer, the new division will offer buyers in the life sciences industry products from its property/casualty range, including product liability, clinical trial liability, property, auto, workers’ compensation, environmental, and product-related errors and omission cover. Products are aimed at US small and middle-market…

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