Construction – InsuranceAsia News https://insuranceasianews.com/industry_segments/construction/ Mon, 22 Dec 2025 02:43:00 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 Wang Fuk Court fire insurance payouts exceed US$33m: HKIA https://insuranceasianews.com/wang-fuk-court-fire-insurance-payouts-top-us33m-hkia/ Sun, 21 Dec 2025 23:29:59 +0000 https://insuranceasianews.com/?p=207488 General insurers have processed 1,038 clams with total payout of around US$26m in the three weeks since the fire, the regulator said.

The post Wang Fuk Court fire insurance payouts exceed US$33m: HKIA appeared first on InsuranceAsia News.

]]>

In the three weeks since the fire at Wang Fuk Court in Tai Po, total insurance payouts by insurers have exceeded HK$257 million (US$33 million), according to the Hong Kong Insurance Authority (HKIA).
...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post Wang Fuk Court fire insurance payouts exceed US$33m: HKIA appeared first on InsuranceAsia News.

]]> Aon renews client treaty for 2026 with additional fac, aviation and construction covers https://insuranceasianews.com/aon-renews-client-treaty-for-2026-with-additional-fac-aviation-and-construction-covers/ Wed, 17 Dec 2025 09:42:30 +0000 https://insuranceasianews.com/?p=207187 Fast-follow automatic facility led by QBE will provide clients with 28.5% of pre-secured Lloyd's coinsurance capacity on lines placed through London and Singapore.

The post Aon renews client treaty for 2026 with additional fac, aviation and construction covers appeared first on InsuranceAsia News.

]]>

Aon has renewed its Aon Client Treaty (ACT) insurance facility for 2026 with additional facultative reinsurance, aviation and construction covers, according to a release.
The fast-follow automatic fac...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post Aon renews client treaty for 2026 with additional fac, aviation and construction covers appeared first on InsuranceAsia News.

]]> ‘China Taiping good enough on its own’ after Wang Fuk Court fire, HKIA CEO Clement Cheung says https://insuranceasianews.com/china-taiping-good-enough-on-its-own-after-wang-fuk-court-fire-hkia-ceo-clement-cheung-says/ Mon, 08 Dec 2025 09:46:45 +0000 https://insuranceasianews.com/?p=206341 About 10,000 active life insurance policies from 35 insurers and 1,800 property policies from 35 insurers have been identified as having been issued to residents, he adds.

The post ‘China Taiping good enough on its own’ after Wang Fuk Court fire, HKIA CEO Clement Cheung says appeared first on InsuranceAsia News.

]]>

China Taiping (Hong Kong) is expected to remain resilient without the need for additional external support following last month's deadly fire at the Wang Fuk Court public housing estate, where it was ...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post ‘China Taiping good enough on its own’ after Wang Fuk Court fire, HKIA CEO Clement Cheung says appeared first on InsuranceAsia News.

]]> Axa XL India snaps up Vishal Singh Rana as construction underwriter https://insuranceasianews.com/axa-xl-india-snaps-up-vishal-singh-rana-as-construction-underwriter/ Fri, 05 Dec 2025 08:04:12 +0000 https://insuranceasianews.com/?p=206191 Former civil and tunnel engineer previously worked for Prudent Insurance Brokers and Munich Re.

The post Axa XL India snaps up Vishal Singh Rana as construction underwriter appeared first on InsuranceAsia News.

]]>

Vishal Singh Rana has joined Axa XL India as a construction underwriter, according to a LinkedIn update from India reinsurance branch CUO Saumitra Sharma.
Rana (pictured) joins Axa XL having spent the...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post Axa XL India snaps up Vishal Singh Rana as construction underwriter appeared first on InsuranceAsia News.

]]> 30 Hong Kong insurers issued over 8,700 life, property policies to Wang Fuk Court residents: HKIA https://insuranceasianews.com/30-hong-kong-insurers-issued-over-8700-life-property-policies-to-wang-fuk-court-residents-hkia/ Thu, 04 Dec 2025 07:12:49 +0000 https://insuranceasianews.com/?p=206099 Hong Kong Insurance Authority (HKIA) CEO Clement Cheung says the authority has set up a special task force, led by senior executives, following last week's deadly blaze.

The post 30 Hong Kong insurers issued over 8,700 life, property policies to Wang Fuk Court residents: HKIA appeared first on InsuranceAsia News.

]]>

About 30 Hong Kong insurers issued more than 7,600 life insurance and 1,100 property policies to residents of Wang Fuk Court, according to the Hong Kong Insurance Authority.
Insurance Authority CEO Cl...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post 30 Hong Kong insurers issued over 8,700 life, property policies to Wang Fuk Court residents: HKIA appeared first on InsuranceAsia News.

]]> Wang Fuk Court: China Taiping confirms it provided coverage for all major insurance policies as death toll passes 120 https://insuranceasianews.com/wang-fuk-court-china-taiping-confirms-it-provided-coverage-for-all-major-insurance-policies-as-death-toll-passes-120/ Fri, 28 Nov 2025 07:43:42 +0000 https://insuranceasianews.com/?p=205633 Hong Kong insurer says it underwrote the construction works insurance, construction employee compensation insurance, owners' corporation third-party liability insurance, property insurance, and public liability insurance for the public housing estate, as first reported by IAN.

The post Wang Fuk Court: China Taiping confirms it provided coverage for all major insurance policies as death toll passes 120 appeared first on InsuranceAsia News.

]]>

Hong Kong insurer China Taiping has confirmed that it is the underwriter responsible for all the relevant insurance policies related to the Wang Fuk Court public housing estate that caught fire on Wed...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post Wang Fuk Court: China Taiping confirms it provided coverage for all major insurance policies as death toll passes 120 appeared first on InsuranceAsia News.

]]> Hong Kong housing estate fire property claim could top US$200m, with China Taiping the sole insurer https://insuranceasianews.com/hong-kong-housing-estate-fire-property-claim-could-top-us200m-with-china-taiping-the-sole-insurer/ Thu, 27 Nov 2025 16:09:17 +0000 https://insuranceasianews.com/?p=205523 Hong Kong firm provides the master property insurance for the Wang Fuk Court housing estate, as well as contractors’ all-risk policy, including third-party liability, and employee compensation cover.

The post Hong Kong housing estate fire property claim could top US$200m, with China Taiping the sole insurer appeared first on InsuranceAsia News.

]]>

The fourth paragraph of the story has been updated to clarify that Marsh is not the broker for the insurance program for Wang Fuk Court's policies as we had initially reported.
The insurance claim fro...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post Hong Kong housing estate fire property claim could top US$200m, with China Taiping the sole insurer appeared first on InsuranceAsia News.

]]> Adharsh K Ramesh joins Aon’s regional construction and infrastructure team https://insuranceasianews.com/adharsh-kr-joins-aons-regional-construction-and-infrastructure-team/ Mon, 03 Nov 2025 02:07:25 +0000 https://insuranceasianews.com/?p=203373 He joins from WTW as an associate director, having also worked for Marsh McLennan.

The post Adharsh K Ramesh joins Aon’s regional construction and infrastructure team appeared first on InsuranceAsia News.

]]>

Adharsh K Ramesh has joined Aon's regional construction and infrastructure team as an associate director, according to a LinkedIn update by head of construction and infrastructure for Asia, Vincent Ba...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post Adharsh K Ramesh joins Aon’s regional construction and infrastructure team appeared first on InsuranceAsia News.

]]> BHSI faces claim after Hong Kong’s Chinachem Tower fire https://insuranceasianews.com/bhsi-on-the-line-for-hong-kongs-chinachem-tower-fire/ Wed, 22 Oct 2025 07:20:50 +0000 https://insuranceasianews.com/?p=202349 Willis is understood to be the broker, while Charles Taylor is the loss adjuster.

The post BHSI faces claim after Hong Kong’s Chinachem Tower fire appeared first on InsuranceAsia News.

]]>

Berkshire Hathaway Specialty Insurance (BHSI) is the primary insurer for the Chinachem Tower fire in Hong Kong’s central business district on Saturday, which is expected to be one of the largest fire ...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post BHSI faces claim after Hong Kong’s Chinachem Tower fire appeared first on InsuranceAsia News.

]]> Industry review, new corporate info drive Fitch upgrade for Construction Guarantee https://insuranceasianews.com/industry-review-new-corporate-info-drive-fitch-upgrade-for-construction-guarantee/ Mon, 20 Oct 2025 07:20:35 +0000 https://insuranceasianews.com/?p=202321 While the rating agency expects CG’s capital strength to remain stable, COR rose to 126% in 2024 from 68% in 2022, driven by higher guarantee claims and additional reserves amid economic strain, high interest rates and rising construction costs.

The post Industry review, new corporate info drive Fitch upgrade for Construction Guarantee appeared first on InsuranceAsia News.

]]>

Fitch Ratings has upgraded South Korea’s Construction Guarantee (CG) to ‘A+’ (strong) from ‘A’, citing its very strong capitalisation, resilient financial performance, and enhanced policy significance...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post Industry review, new corporate info drive Fitch upgrade for Construction Guarantee appeared first on InsuranceAsia News.

]]>