Legal – InsuranceAsia News https://insuranceasianews.com/industry_segments/legal/ Tue, 23 Dec 2025 05:32:14 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 Axa Philippines pays US$6.8m to resolve decade-long Typhoon Ondoy dispute https://insuranceasianews.com/axa-philippines-pays-us6-8m-to-resolve-decade-long-typhoon-ondoy-dispute/ Tue, 23 Dec 2025 04:28:04 +0000 https://insuranceasianews.com/?p=207566 Poultry and feeds producer Vitarich had originally filed against Charter Ping An Insurance in 2014 before it became part of Axa Philippines.

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Axa Philippines Life and General Insurance has agreed to pay poultry and feeds producer Vitarich Corporation PHP400 million (US$6.8 million) to settle a long-running dispute stemming from damages incu...

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]]> Discount rate cut lowers capital pressures on South Korean non-life insurers: AM Best https://insuranceasianews.com/discount-rate-cut-lowers-capital-pressures-on-south-korean-non-life-insurers-am-best/ Wed, 17 Dec 2025 05:04:30 +0000 https://insuranceasianews.com/?p=207144 Rating agency expects strengthening of supervision on asset-liability management will enhance the industry’s stability and resilience.

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South Korea's plan to slow down the implementation pace of the discount rate cuts is expected to ease domestic non-life insurers’ burden on securing their regulatory solvency positions, said AM Best.
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]]> Vietnam reduces requirements for insurance market entry https://insuranceasianews.com/vietnam-reduces-requirements-for-insurance-market-entry-aim-full-rbc-application-from-2031/ Sun, 14 Dec 2025 22:15:57 +0000 https://insuranceasianews.com/?p=206834 Move is part of an effort by Vietnam to reduce administrative burdens on local insurers, according to a press release by reinsurer Hanoi Re.

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Vietnam has given the nod for the removal and simplification of many ex-ante regulatory requirements for (re)insurers and market participants, as part of its newly amended law for insurance business.
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]]> Manulife successfully completes re-domiciliation from Bermuda to Hong Kong https://insuranceasianews.com/manulife-successfully-completes-re-domiciliation-from-bermuda-to-hong-kong/ Fri, 12 Dec 2025 09:53:26 +0000 https://insuranceasianews.com/?p=206770 Insurer was the second after French rival AXA’s Hong Kong and Macau arm to apply for the new company re-domiciliation regime after it was introduced in May.

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Manulife (International) has successfully completed its re-domiciliation from Bermuda to Hong Kong under the government’s company re-domiciliation regime, becoming the first insurer to achieve this mi...

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]]> Typhoon Odette survivors in the Philippines sue Shell seeking corporate liability for climate-related losses https://insuranceasianews.com/survivors-of-typhoon-odette-sue-shell-seeking-corporate-liability-for-climate-related-losses/ Thu, 11 Dec 2025 06:43:31 +0000 https://insuranceasianews.com/?p=206605 The lawsuit, filed in London, argues Shell’s historic emissions materially intensified Super Typhoon Odette’s landing in December 2021.

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Survivors of Super Typhoon Odette have filed a case against oil company Shell in London seeking corporate liability for specific climate-related deaths, injuries, and destruction.
The lawsuit, filed a...

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]]> Meritz Fire & Marine faces US$680,000 exposure to Coupang data breach https://insuranceasianews.com/meritz-fire-marine-faces-us682m-expsoure-to-coupang-data-breach-reports/ Mon, 08 Dec 2025 10:08:30 +0000 https://insuranceasianews.com/?p=206350 US-listed Korean retailer is facing class action suits in the US and South Korea following a data leak that compromised information of 34 million customers.

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This story and headline have been corrected after the initial story stated that the exposure was US$682 million.
Meritz Fire & Marine is facing a KRW1 billion (US$680,000) exposure linked to the d...

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]]> Guy Carpenter wins Singaporean lawsuit against ex-employees, LK Re for using unlawful means to lure client https://insuranceasianews.com/guy-carpenter-wins-singaporean-lawsuit-against-ex-employees-lk-re-for-using-unlawful-means-to-lure-client/ Fri, 05 Dec 2025 09:30:48 +0000 https://insuranceasianews.com/?p=206232 Reinsurance broker argued defendants worked together to establish a facility to place Samsung Fire and Marine Insurance's domestic warehouse risks, costing Guy Carpenter US$1.3m in revenue.

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Guy Carpenter has won a lawsuit in Singapore's High Court against two former employees who lured a big client away to South Korean reinsurance broker LK Insurance Services and its subsidiary LK Re, ac...

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]]> Lotte Insurance to sue FSC over ‘prompt corrective action’: reports https://insuranceasianews.com/lotte-insurance-to-sue-fsc-over-prompt-corrective-action/ Fri, 14 Nov 2025 07:02:41 +0000 https://insuranceasianews.com/?p=204546 Dispute stems from the regulator's decision to issue a management improvement recommendation to the Korean carrier.

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South Korean-listed Lotte Insurance has initiated legal action against the Financial Services Commission (FSC) over a "prompt corrective action" imposed earlier this month, arguing that the measure wa...

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]]> Steadfast CEO Robert Kelly temporarily ‘stands aside’ amid probe into workplace complaint https://insuranceasianews.com/steadfast-ceo-robert-kelly-temporarily-stands-aside-amid-probe-into-workplace-complaint/ Thu, 30 Oct 2025 08:34:35 +0000 https://insuranceasianews.com/?p=203204 Tim Mathieson, CEO of Australasian broking, has been appointed as acting chief executive officer, effective immediately.

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Steadfast CEO and managing director Robert Kelly has "chosen to stand aside" on a temporary basis amid an investigation into a workplace complaint, the company said in a stock exchange announcement.
K...

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]]> Australian court restrains Marsh from pursuing Greensill claims in UK https://insuranceasianews.com/australian-courts-restrains-marsh-from-pursuing-greensill-claims-in-uk/ Tue, 14 Oct 2025 05:36:16 +0000 https://insuranceasianews.com/?p=201905 The 'anti-anti-suit injunction' in the sprawling litigation follows Marsh's claims that Greensill is contractually bound to resolve its disputes in England.

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The Australian Federal Court has restrained Marsh from pursuing anti-suit claims against Greensill Bank or its insolvency administrator, in the High Court of England and Wales or any other court (oth...

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