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Australia Regulator Cites Health Insurer Bupa for 'Misleading' Conduct
... British United Provident Association Ltd. has a current Best's Financial Strength Rating of B++ (Good). (By David Pilla, news editor, BestWire: David.Pilla@ambest.com)
Source: BestWire   Date: June 30, 2025
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Allianz Australia Gains Competition Commission OK to Acquire RAAI
South Australia, the ACCC said. "Our investigation focused on the closeness of competition between RAAI and Allianz and the extent to which other insurers are competing effectively ...
Source: BestWire   Date: June 13, 2025
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Australia's Federal Court Denies Regulator Appeal in Contract Term Dispute
The regulator said it "is considering this decision." ASIC said it alleged the term was unfair as the regulator considered it "imposes an unclear obligation on policyholders ...
Source: BestWire   Date: June 5, 2025
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 Market Segment Report: Market Segment Outlook: South Korea Non-Life Insurance   Set up an alert from the report page
The Stable outlook of South Korea’s non-life insurance segment reflects the expectation of moderate growth in long-term and general insurance, albeit with a focus on investment str...
Source: Market Segment Reports   Date: June 3, 2025
ASIC Sues Insurance Comparison Site Choosi for Allegedly Misleading Customers
Greenstone Financial Services Pty Ltd., a company it said was associated with Choosi. ASIC alleges at least 4,225 funeral insurance policies and 9,478 life insurance policies were ...
Source: BestWire   Date: June 3, 2025
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China’s Financial Regulator Increases Limits on Insurers’ Investments
https://bestsreview.ambest.com/edition/2025/june/index.html#page=30
Source: Best's Review   Date: June 1, 2025
Nasdaq Issues Delisting Notice to Chinese Insurtech XChange for Minimum Market Value Failure
...Change said in a statement, temporarily staying further delisting actions. The company has had a rocky time complying with listing requirements. It also received notice of ...
Source: BestWire   Date: May 16, 2025
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Hannover Re First-Quarter Net Income Down 13.9% on Fire, Aviation, Other Cat Losses
Germany and Ex-Tropical Cyclone Alfred in Australia. The company raised its net large loss budget for the year to 2025 to €2.1 billion from €1.83 billion on property/casualty ...
Source: BestWire   Date: May 14, 2025
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Australian Regulator Sues Hollard Insurance, Alleges Claims-Handling Failure
Hollard Insurance Partners Ltd., alleging "serious claim-handling failures." The proceeding, brought in Federal Cout, centers on an insurance claim Hollard Insurance took nearly ...
Source: BestWire   Date: April 11, 2025
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Regulator Cites IAG New Zealand for Fair Dealing Breaches
High Court in Auckland. IAG New Zealand identified and reported the issues to the FMA, "promptly acknowledged its wrongdoing and fully cooperated with the FMA's investigations," ...
Source: BestWire   Date: April 7, 2025
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Market Segment Outlook: Malaysia Non-Life Insurance
https://bestsreview.ambest.com/edition/2025/april/index.html#page=53
Source: Best's Review   Date: April 1, 2025
Sompo: Shift to IFRS Will Ease Domestic Conservatism, Unify Accounting
Japan ends on March 31. For domestic property/casualty insurance, profit levels will rise due to the economic valuation of insurance liabilities, Sompo said. In overseas insurance, ...
Source: BestWire   Date: March 28, 2025
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Japan's MS&AD to Merge Nonlife Units in Efficiency Drive
Insurance Group Holdings Inc. said its two main property/casualty subsidiaries will merge as the group seeks to strengthen its supervisory capabilities and create the largest ...
Source: BestWire   Date: March 28, 2025
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Japan's MS&AD to Take 15% Stake in W.R. Berkley Valued at $3.8 Billion
Mitsui Sumitomo Insurance Co. Ltd., a Japanese property/casualty insurance carrier, entered into an arrangement with a company owned by members of the Berkley family and trusts for ...
Source: BestWire   Date: March 28, 2025
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MS&AD Units in Japan Receives New Regulatory Improvement Action
Two subsidiaries of MS&AD Insurance Group Holdings Inc. received new administrative actions from the country's financial regulator to address information leakage and other problems ...
Source: BestWire   Date: March 25, 2025
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ICA Opposes Regulatory Pricing Suggestions, Says Other Change Improved Cyclone Alfred Response
...Tropical Cyclone Alfred this month." It said claims from Alfred, which made landfall near densely populated Brisbane on March 7, climbed to 63,600 through March 17, about 58,300 of ...
Source: BestWire   Date: March 18, 2025
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MS&AD Touts Progress in Updated Reform Plan to Japan's Regulator
Two of MS&AD Insurance Inc.'s main subsidiaries released new progress reports on their business improvement plans to the country's Financial Services Agency in response to ...
Source: BestWire   Date: March 14, 2025
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Indian Regulator Approves Valueattics Re as Country's First Standalone Reinsurer
Valueattics Reinsurance Ltd., which the regulator said is the first reinsurer to exclusively carry out reinsurance business in the country. The certificate of registration was ...
Source: BestWire   Date: March 14, 2025
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Aon Names Head of Taiwanese Unit
Financial Supervisory Commission. Leung is now the head of Hong Kong for Aon. Ng will be responsible for driving the business strategies and growth for Aon in Taiwan, spanning ...
Source: BestWire   Date: February 11, 2025
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Manulife Asia Announces Senior Leadership Changes
Japan and Singapore, and finance. Kah Siang Khoo, chief executive officer of Singapore, will be appointed as CEO of emerging markets, overseeing Cambodia, Indonesia, Malaysia, ...
Source: BestWire   Date: February 11, 2025
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