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Full Capacity: Shifting tides of Asian reinsurance
This week's newsletter discusses Sompo's acquisition of Aspen, Asian leadership changes at QBE, Scor's strategic transfer of its Singapore business, Willis' aggressive entry into the Japanese market, Typhoon Kajiki updates and the shifting tides of Asian reinsurance.
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QBE, Steadfast, Aon, Zurich: 8 APAC insurance people moves of the week
Aon Re, Delta Insurance, Specialist Risk Group and Envest Group also made personnel changes over the last week.
QBE, Steadfast, Aon, Zurich: 8 APAC insurance people moves of the week
Aon Re, Delta Insurance, Specialist Risk Group and Envest Group also made personnel changes over the last week.
Aon Re, Delta Insurance, Specialist Risk Group and Envest Group also made personnel changes over the last week.
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Howden Re hires Jonathan Yang as APAC director of fac reinsurance
Singapore-based Yang joins from Marsh, where he had been a senior vice president since April 2021.
Howden Re hires Jonathan Yang as APAC director of fac reinsurance
Singapore-based Yang joins from Marsh, where he had been a senior vice president since April 2021.
Singapore-based Yang joins from Marsh, where he had been a senior vice president since April 2021.
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Cat bond market enjoys record-breaking boom as ILS capacity hits US$121bn: Aon
The 12 months to the end of June was the 'most active' period ever for the ILS market, according to Aon Securities’ annual ILS report.
Cat bond market enjoys record-breaking boom as ILS capacity hits US$121bn: Aon
The 12 months to the end of June was the 'most active' period ever for the ILS market, according to Aon Securities’ annual ILS report.
The 12 months to the end of June was the 'most active' period ever for the ILS market, according to Aon Securities’ annual ILS report.
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Steadfast grows revenue by 8.9% to US$1.2bn in FY25
Broker network also announces long-serving chair Frank O’Halloran will step down following its annual general meeting in October.
Steadfast grows revenue by 8.9% to US$1.2bn in FY25
Broker network also announces long-serving chair Frank O’Halloran will step down following its annual general meeting in October.
Broker network also announces long-serving chair Frank O’Halloran will step down following its annual general meeting in October.
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Steadfast snaps up US MGA and wholesale broker Novum Underwriting
Novum will serve as the program development and management platform for the Australian broker's US network, ISU Steadfast.
Steadfast snaps up US MGA and wholesale broker Novum Underwriting
Novum will serve as the program development and management platform for the Australian broker's US network, ISU Steadfast.
Novum will serve as the program development and management platform for the Australian broker's US network, ISU Steadfast.
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China Pacific’s P&C underwriting profit up 31% to US$500m in H1 FY25
Underwriting COR was down 0.8 percentage points to 96.3% due to improvements in underwriting expense ratio.
China Pacific’s P&C underwriting profit up 31% to US$500m in H1 FY25
Underwriting COR was down 0.8 percentage points to 96.3% due to improvements in underwriting expense ratio.
Underwriting COR was down 0.8 percentage points to 96.3% due to improvements in underwriting expense ratio.
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Parametric insurance must simplify to boost public sector adoption: Seadrif’s Benedikt Signer
Executive director of the Southeast Asia Disaster Risk Insurance Facility outlines its mission to enhance insurance adoption in public sectors by simplifying product design and addressing market gaps.
Parametric insurance must simplify to boost public sector adoption: Seadrif’s Benedikt Signer
Executive director of the Southeast Asia Disaster Risk Insurance Facility outlines its mission to enhance insurance adoption in public sectors by simplifying product design and addressing market gaps.
Executive director of the Southeast Asia Disaster Risk Insurance Facility outlines its mission to enhance insurance adoption in public sectors by simplifying product design and addressing market gaps.
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Taiping Re’s profit surges 75% despite flat premiums
China Taiping reported a 12.2% rise H1 FY25 profit led by a sharp rise in reinsurance profitability and improved underwriting margins.
Taiping Re’s profit surges 75% despite flat premiums
China Taiping reported a 12.2% rise H1 FY25 profit led by a sharp rise in reinsurance profitability and improved underwriting margins.
China Taiping reported a 12.2% rise H1 FY25 profit led by a sharp rise in reinsurance profitability and improved underwriting margins.
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SRG hires fac specialist John Jackson as APAC head of reinsurance
Jackson joins from Marnix Insurance Brokers, where he was a director for over 11 years.
SRG hires fac specialist John Jackson as APAC head of reinsurance
Jackson joins from Marnix Insurance Brokers, where he was a director for over 11 years.
Jackson joins from Marnix Insurance Brokers, where he was a director for over 11 years.
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Envest extends ‘deepest gratitude’ to 4 departing senior leaders
Ardonagh-owned broker confirmed 'long-serving and highly respected leaders' Tony Walker, Barry Fitzpatrick, Rob Ellis and Adrian Kitchin are retiring and leaving the company.
Envest extends ‘deepest gratitude’ to 4 departing senior leaders
Ardonagh-owned broker confirmed 'long-serving and highly respected leaders' Tony Walker, Barry Fitzpatrick, Rob Ellis and Adrian Kitchin are retiring and leaving the company.
Ardonagh-owned broker confirmed 'long-serving and highly respected leaders' Tony Walker, Barry Fitzpatrick, Rob Ellis and Adrian Kitchin are retiring and leaving the company.
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QBE CFO Inder Singh resigns, to depart for banking role in 2026
Singh will remain with QBE while the company undertakes a search for a new chief financial officer.
QBE CFO Inder Singh resigns, to depart for banking role in 2026
Singh will remain with QBE while the company undertakes a search for a new chief financial officer.
Singh will remain with QBE while the company undertakes a search for a new chief financial officer.
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Perils expands real-time insurance industry loss forecasts to Japanese typhoons
Wind-Jeannie platform 'provides a welcome new perspective,' Perils' Japan representative Takashi Goda says.
Perils expands real-time insurance industry loss forecasts to Japanese typhoons
Wind-Jeannie platform 'provides a welcome new perspective,' Perils' Japan representative Takashi Goda says.
Wind-Jeannie platform 'provides a welcome new perspective,' Perils' Japan representative Takashi Goda says.
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Where there’s smoke, there’s fire: as enhanced EV risks rise, insurers urged to find ‘viable solutions’ with demand set to grow
Marine insurers are growing increasingly concerned over the risk posed by the transportation of electric vehicles and lithium-ion batteries.
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APAC upstream market continues to navigate difficult conditions as double-digit rate reductions energise buyers
Increased underwriting capacity, limited catastrophic loss activity, and heightened competition among insurers suggest there is sustained downward pressure of 5-12.5% on premium rates.
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Asia’s revitalised art market attracts new capacity as demand for tailored cover grows
Fion Ko, associate director of fine art and specie for Asia at Willis, tells InsuranceAsia News' Between The Lines podcast that an increasing demand for digital art is posing challenges as the market finds ways to cover the emerging risks.
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Rising risks redefine marine insurer-clients relationships: IUMI’s Lars Lange
As the industry body prepares to host their annual conference in Singapore, sanctions and geopolitical risks continue to dominate concerns for carriers.
Between The Lines
A fortnightly podcast that unpacks the pivotal stories and trends shaping the (re)insurance industry across Asia Pacific.
Spotlight
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Parametric insurance must simplify to boost public sector adoption: Seadrif’s Benedikt Signer
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Amid breakout year, Willis supercharges Japan team as broker eyes a bigger piece of the pie
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US tariffs haven’t really landed on P&I, West’s David Griffiths says, as China’s influence grows
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Crawford eyes India, China potential amid regional consolidation drive: Scott Reichelt
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Australian MGA Blue Zebra eyes commercial lines expansion, earning its stripes overseas
M&A
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Steadfast snaps up US MGA and wholesale broker Novum Underwriting
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Sompo to acquire Aspen for US$3.5bn
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Aspen shares rally in premarket trading on reports of Sompo merger talks
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Filipino carriers FPG Insurance and Mercantile Insurance to merge
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Merger of 3 Indonesian reinsurers could hurt local insurers: Fitch
ESG
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‘You can’t do it as a hobby’: ESG must be a clear business model with easily measurable targets
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Carbon specialist Kita expands into Australia
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Maritime decarbonisation efforts need liability certainty to stay on course amid ‘pressing challenge’
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With Donald Trump’s ESG curveball, what’s the outlook for APAC liability coverage?
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Aon strengthens Asia natural resources team with senior hire
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Howden Re hires Jonathan Yang as APAC director of fac reinsurance
Singapore-based Yang joins from Marsh, where he had been a senior vice president since April 2021.
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SRG hires fac specialist John Jackson as APAC head of reinsurance
Jackson joins from Marnix Insurance Brokers, where he was a director for over 11 years.
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Envest extends ‘deepest gratitude’ to 4 departing senior leaders
Ardonagh-owned broker confirmed 'long-serving and highly respected leaders' Tony Walker, Barry Fitzpatrick, Rob Ellis and Adrian Kitchin are retiring and leaving the company.
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QBE CFO Inder Singh resigns, to depart for banking role in 2026
Singh will remain with QBE while the company undertakes a search for a new chief financial officer.
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Mike Baker rejoins Aon as Asia managing director
Baker, who previously had two stints at Aon, joins from Howden to be responsible for leading client leadership across a portfolio of large corporate clients in the region.
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Steadfast taps Stella Pruscino as head of broker network
Melbourne-based Pruscino has previously held senior roles at Edgewise Insurance Brokers and WTW.
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Kiwi MGA Delta Insurance promotes Krisann Pereira to property team lead
She takes over responsibility for Auckland and the rest of New Zealand in the latest move involving the MGA.
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Zurich Malaysia promotes Yuan Feng Hoo to chief pricing actuary
Hoo, who has also been handed head of technical excellence role, has previously held multiple P&C leadership positions with the insurer.
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Aon Re hands Lin Mun Lee client manager role in Malaysia
She previously spent almost a decade with Aon reinsurance Malaysia as a treaty broker.
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QBE taps veteran Stephen Geisler to succeed Ronak Shah as South Asia CEO
Marsh's Ross Bethell has also been appointed as head of partnerships for Asia, with both set to report to QBE Asia CEO Rob Kosova.
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Lloyd’s Asia surpasses US$1bn GWP milestone in 2024 amid double-digit growth
Offshore fund demonstrates strong performance despite challenges in the Singapore unit and varied underwriting results across business lines.
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Hong Kong’s P&C reinsurance market narrows gap with Singapore
Hong Kong benefitted from RBC implementation in 2024, however, Singapore retained top spot in terms of GWP and underwriting results.
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Short-tail performance boost for Australia’s P&C carriers
APRA data shows general insurance COR improves in Q4 2024, while profit after tax almost doubles to US$1bn.
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Australian intermediated premiums grow 8.2% in 2023-24
While the GWP placed with Lloyd’s in the 12 months grew at a comparable pace, business placed with unauthorised foreign insurers declined marginally.
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Alternative risk solutions on the table for non-modelled perils at 1.1 renewals
The APAC reinsurance market is transitioning from a market of corrections to a market of solutions, Tony Gallagher, CEO, Asia Pacific, Guy Carpenter tells InsuranceAsia News.
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Hong Kong premium growth and claim frequency are converging to normal level: HKIA
According to 2023 data from the regulator, the SAR's general insurance business reported the worst overall loss ratio in five years at 62.8%, while COR sank to a near five-year low after an 8.3 percentage point deterioration year-on-year.
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APAC 2023 marine premiums up 7.5% as global trade recovery drives cargo insurance growth
While the upswing in trade is expected to help premium growth and and the overall claims impact remained stable, uncertainty posed by geopolitical tensions and regional economic outlook could impact the sector.
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Australian underwriters incur 23% lower public liability claims in 2023
Lloyd's public liability claims doubled and PI claims went up 13 times in the country in the last year while other insurers' PI claims were 9% higher year-on-year across all states, according to the 2023 claims data released by the Australian Prudential Regulation Authority.
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