Country: Japan Page 17 / 45
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- January 30 2023
Asia 1.4 renewals to bring more rate hikes and tough negotiations
Nat cats are set to impact the Philippines, while global trends will push up pricing in India and Japan.
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- January 27 2023
S&P lowers Toa Re’s rating to A after large Covid and cat claims
The Japanese reinsurer made a loss in the first half of the current fiscal year and its combined ratio has exceeded 100% for four consecutive years.
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- January 27 2023
Japan’s carriers support marine war market as deadline looms
(Re)insurers could see a potential US$1bn loss in February for policies connected to stranded ships.
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- January 5 2023
Sompo Holdings sued for US$750m damages over Van Gogh painting
Sompo bought the painting for US$40m in 1987 at a Christie’s London auction.
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- January 4 2023
Australia floods, Fukushima earthquake top 2022 nat cat losses: Cresta
With Typhoon Nanmadol, three out of the top seven ex-US loss events exceeding US$1bn were from Asia Pacific.
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- December 30 2022
Japan’s big three to offer US$60m in Russia-Ukraine marine war cover: report
Total underwriting capacity halved to US$226m despite an additional US$165.8m cover from overseas reinsurers.
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- December 30 2022
MS&AD investment arm adds US$100m dry powder
The venture capital fund will invest in overseas insurtechs and digital startups related to risk and insurance, which are strategically relevant the Japanese carrier.
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- December 28 2022
Japan’s big three told to continue marine cover in Russia: report
Insurers' plans to exit the business announced last week could affect the country's energy imports of Sakhalin-2 liquefied natural gas, which accounts for 9% of its imports.
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- December 20 2022
Typhoon Nanmadol losses up at US$906m: Perils
The estimates, which cover property losses excluding motor and transport-related damages, are much lower than first expected.
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- December 2 2022
Japan’s insurers to improve profitability from domestic underwriting in 2023: Fitch
All three major non-life groups’ net insured losses from local nat cats more than tripled in H1 2022/3.
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- November 30 2022
SMBC Aviation starts litigation against 11 insurers over jets in Russia
The Japanese lessor, which had recognised a US$1.6bn impairment this year, has filed a suit in the Irish High Court seeking claims for its 34 planes.
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- November 30 2022
Tokio Marine-backed ICEYE in Asia nat cat data push
The Finnish satellite tech provider, which offers disaster claims management services, is looking to expand beyond Australia and Japan.
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- November 22 2022
MS&AD to reduce headcount by 6,300 by end of FY 2025
1,900 roles will go by the end of March 2023 as the Japanese giant charts out a three-point plan to improve earnings structure.
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- November 21 2022
Japan’s big three post massive H1 underwriting losses on nat cats, Covid-19
While Sompo Holdings and MS&AD Insurance Group posted net losses for their first six months of the fiscal year, Tokio Marine saw a 70% fall in profits.
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- November 18 2022
Tokio Marine announces US$357m share buyback plan
The Japanese giant will repurchase 25m shares from November 21 through March 24, 2023 'to implement flexible financial policies'.
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- November 18 2022
Water-related losses highest in Asia, more stress likely, warns WMO
In Asia, the highest adaptation cost is estimated for China at US$189bn, followed by India at US$46bn.
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- November 17 2022
Ex-Aon Securities MD Shinji Yamamoto launches ILS boutique
He was head of capital markets and ILS divisions in Asia for the global broker, based in Japan.
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- November 15 2022
Japan’s P&C ‘Big Three’ chart growth via overseas acquisitions
MS&AD, Tokio Marine & Sompo keen for niche strategic deals while ensuring dividend payouts.
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- November 11 2022
PGA Sompo’s outlook revised to ‘good’: AM Best
The Makati City-headquartered insurer holds a 3% non-life market share in the Philippines.
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- November 10 2022
Tokio Marine opens digital labs in Singapore, Taipei and Tokyo
The Japanese giant is creating a new ecosystem, inspired by its Brazilian app.
