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Sompo swoops for US workers’ comp specialist Service Insurance Companies
The acquisition deepen Sompo's presence across products, customer segments and distribution channels, particularly within the SME and general agent markets.
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Wild weather hits China as Typhoon Maysak floods Guangxi, deadly storms tear through Hubei, Super Typhoon Bavi loom
Events on Monday caused widespread damage, including a dam collapse, leaving at least 15 people dead and tens of thousands affected.
Wild weather hits China as Typhoon Maysak floods Guangxi, deadly storms tear through Hubei, Super Typhoon Bavi loom
Events on Monday caused widespread damage, including a dam collapse, leaving at least 15 people dead and tens of thousands affected.
Events on Monday caused widespread damage, including a dam collapse, leaving at least 15 people dead and tens of thousands affected.
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Sompo appoints Maureen Ung as director for commercial distribution
She has nearly 20 years of experience across customer strategy, claims, and commercial distribution in the Asia-Pacific insurance market.
Sompo appoints Maureen Ung as director for commercial distribution
She has nearly 20 years of experience across customer strategy, claims, and commercial distribution in the Asia-Pacific insurance market.
She has nearly 20 years of experience across customer strategy, claims, and commercial distribution in the Asia-Pacific insurance market.
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Singapore targets 2028 launch of protected cell company regime for captives, ILS, sovereign pools
Monetary Authority of Singapore opens consultation on a proposed legislative framework for the new regime aimed at deepening alternative risk transfer solutions.
Singapore targets 2028 launch of protected cell company regime for captives, ILS, sovereign pools
Monetary Authority of Singapore opens consultation on a proposed legislative framework for the new regime aimed at deepening alternative risk transfer solutions.
Monetary Authority of Singapore opens consultation on a proposed legislative framework for the new regime aimed at deepening alternative risk transfer solutions.
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Howden hires trio to grow employee benefits, financial lines in Hong Kong
Broker appoints Eugene Wong as employee benefits practice lead, Alan Sze as associate director for employee benefits sales, and Jason Lam as associate director for financial lines.
Howden hires trio to grow employee benefits, financial lines in Hong Kong
Broker appoints Eugene Wong as employee benefits practice lead, Alan Sze as associate director for employee benefits sales, and Jason Lam as associate director for financial lines.
Broker appoints Eugene Wong as employee benefits practice lead, Alan Sze as associate director for employee benefits sales, and Jason Lam as associate director for financial lines.
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APRA overhauls reinsurance framework to allow alternative cover, cut red tape
New regime, due to take effect from January, will modernise Australia's prudential framework, expand access to alternative reinsurance and give appointed actuaries greater authority over capital treatment, reducing regulatory approvals.
APRA overhauls reinsurance framework to allow alternative cover, cut red tape
New regime, due to take effect from January, will modernise Australia's prudential framework, expand access to alternative reinsurance and give appointed actuaries greater authority over capital treatment, reducing regulatory approvals.
New regime, due to take effect from January, will modernise Australia's prudential framework, expand access to alternative reinsurance and give appointed actuaries greater authority over capital treatment, reducing regulatory approvals.
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Hong Kong’s first virtual insurer eyes Malaysia-led Southeast Asia push after hitting ‘critical’ US$100m revenue milestone
Life insurer Bowtie expects to break even 'quite soon' on the back of rapid growth and a 93% customer retention rate, co-founder Fred Ngan told InsuranceAsia News.
Hong Kong’s first virtual insurer eyes Malaysia-led Southeast Asia push after hitting ‘critical’ US$100m revenue milestone
Life insurer Bowtie expects to break even 'quite soon' on the back of rapid growth and a 93% customer retention rate, co-founder Fred Ngan told InsuranceAsia News.
Life insurer Bowtie expects to break even 'quite soon' on the back of rapid growth and a 93% customer retention rate, co-founder Fred Ngan told InsuranceAsia News.
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New South Wales emergency services levy reform could save US$347m in economic costs, lower premiums: ICA analysis
Independent economic analysis released by the Insurance Council of Australia (ICA) shows reforms would deliver more money to over two million households, with most saving at least US$38 a year.
New South Wales emergency services levy reform could save US$347m in economic costs, lower premiums: ICA analysis
Independent economic analysis released by the Insurance Council of Australia (ICA) shows reforms would deliver more money to over two million households, with most saving at least US$38 a year.
Independent economic analysis released by the Insurance Council of Australia (ICA) shows reforms would deliver more money to over two million households, with most saving at least US$38 a year.
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Aon’s Reinsurance Solutions appoints Matthew Chae as L&H growth leader in South Korea
Seoul-based Chae has strong cross-border expertise and more than 20 years of experience across life insurance and reinsurance.
Aon’s Reinsurance Solutions appoints Matthew Chae as L&H growth leader in South Korea
Seoul-based Chae has strong cross-border expertise and more than 20 years of experience across life insurance and reinsurance.
Seoul-based Chae has strong cross-border expertise and more than 20 years of experience across life insurance and reinsurance.
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Markel appoints Weng Fatt Tan as senior casualty underwriter in Malaysia
Kuala Lumpur-based Tan was most recenly head of liability at Berjaya Sompo Insurance.
Markel appoints Weng Fatt Tan as senior casualty underwriter in Malaysia
Kuala Lumpur-based Tan was most recenly head of liability at Berjaya Sompo Insurance.
Kuala Lumpur-based Tan was most recenly head of liability at Berjaya Sompo Insurance.
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PCRIC makes second drought parametric payout to Tonga
Payout funds assistance following the arrival of drought conditions in Tonga's Niua island group.
PCRIC makes second drought parametric payout to Tonga
Payout funds assistance following the arrival of drought conditions in Tonga's Niua island group.
Payout funds assistance following the arrival of drought conditions in Tonga's Niua island group.
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Australia’s competition regulator probes Allianz-nib travel insurance tie-up
Australian Competition and Consumer Commission launches a phase one investigation into the US$34.66m transaction.
Australia’s competition regulator probes Allianz-nib travel insurance tie-up
Australian Competition and Consumer Commission launches a phase one investigation into the US$34.66m transaction.
Australian Competition and Consumer Commission launches a phase one investigation into the US$34.66m transaction.
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Niyam Group taps Ritesh Shah to drive India engineering, construction buildout
He joins after a long stint at Swiss Re in India.
Niyam Group taps Ritesh Shah to drive India engineering, construction buildout
He joins after a long stint at Swiss Re in India.
He joins after a long stint at Swiss Re in India.
Popular posts:
- Marsh granted interim injunction in Hong Kong over executives’ move to Howden
- We’ve seen reinsurers’ appetite prevail at 1.7, Gallagher Re’s Roshan Perera says
- Continuum hires Howden’s Andy Tam as Hong Kong general manager
- Wild weather hits China as Typhoon Maysak floods Guangxi, deadly storms tear through Hubei, Super Typhoon Bavi loom
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‘Substantial insurance support’ pivotal as 20,000 seafarers trapped in worsening Strait of Hormuz crisis
Industry officials stress that repatriating trapped crew requires coordinated war-risk and P&I insurance arrangements, alongside security guarantees, to overcome the stalled evacuation.
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Not blowout year, but M&A resiliency remains amid soft market, improving geopolitical outlook
Insurer appetite for M&A remained robust in the first half despite a volatile geopolitical backdrop, with three jumbo deals in Japan, Australia and the UK.
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We’ve seen reinsurers’ appetite prevail at 1.7, Gallagher Re’s Roshan Perera says
New managing director and head of APAC tells InsuranceAsia News that while there seems to be some more room for rate reduction, cedents will certainly benefit from more options and flexibility in future renewals.
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Australian ‘gatekeeper’ firms urged to review PI cover as sweeping regulatory changes come into effect
New money laundering and counterterrorism rules, which came into effect on Wednesday, will see strict penalties imposed.
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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Hong Kong’s first virtual insurer eyes Malaysia-led Southeast Asia push after hitting ‘critical’ US$100m revenue milestone
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‘Forerunners in the unforeseeable’: Knightcorp challenges the status quo in Australia’s consolidated insurance market
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‘We’re in for the long haul’: Valueattics Re targets steady growth with domestic gains, regional moves
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HDI Global leverages Asian HQ boom to open doors for international programs amid rising uncertainty
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Swiss Re CorSo eyes data centres, ART, Japan as key pillars for Asian specialty push
M&A
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Sompo swoops for US workers’ comp specialist Service Insurance Companies
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Australia’s competition regulator probes Allianz-nib travel insurance tie-up
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Not blowout year, but M&A resiliency remains amid soft market, improving geopolitical outlook
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Quartet set to vie for South Korean bridge insurer Yebyeol Non-Life: reports
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Australia’s Metrix Insurance Group acquires Coverscope Insurance Brokers
ESG
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Lloyd’s looks for new way to meet diversity challenge after scrapping Dive In festival after 12 years
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Swiss Re faces activist scrutiny for underwriting new LNG terminals, CEO defends ‘very robust’ ESG framework
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QBE hands Mandy Chan expanded role as head of operational power generation, ESG for Asia
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Carbon credit specialist Oka launches in Singapore
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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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Sedgwick Asia says it is ready to meet the evolving challenges of Asia’s dynamic insurance markets.
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Sompo appoints Maureen Ung as director for commercial distribution
She has nearly 20 years of experience across customer strategy, claims, and commercial distribution in the Asia-Pacific insurance market.
-
Howden hires trio to grow employee benefits, financial lines in Hong Kong
Broker appoints Eugene Wong as employee benefits practice lead, Alan Sze as associate director for employee benefits sales, and Jason Lam as associate director for financial lines.
-
Aon’s Reinsurance Solutions appoints Matthew Chae as L&H growth leader in South Korea
Seoul-based Chae has strong cross-border expertise and more than 20 years of experience across life insurance and reinsurance.
-
Markel appoints Weng Fatt Tan as senior casualty underwriter in Malaysia
Kuala Lumpur-based Tan was most recenly head of liability at Berjaya Sompo Insurance.
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Niyam Group taps Ritesh Shah to drive India engineering, construction buildout
He joins after a long stint at Swiss Re in India.
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Aviso Specialty hires Kerin Rathgeber as trade credit head
Melbourne-based Rathgeber has more than 29 years of experience spanning trade credit, underwriting, broking, business development and strategic client advisory.
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Willis appoints Gary McMullen as senior director for workplace risk
Brisbane-based McMullen joins from Aon following a previous stint at Willis Australasia.
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Mitsui Sumitomo-owned Time Machine makes pair of senior underwriting hires
W&I specialist Japanese MGA appoints Shuko Shikatani as an underwriter and CFO, while Sumiyo Yamamoto joins from AIG as an underwriter.
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Marsh appoints Melody Carr as national head of technical claims advocacy for the Pacific
She was most recenlty head of finpro claims and head of technical at Marsh McLennan.
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Suncorp FY26 nat cat costs top US$1.5bn, exceeds allowance
Australian insurer expects GWP growth of approximately 2.7% for the finacial year ended June 30.
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W&I: "W&I is now being utilised with increasing frequency across a far broader range of deal sizes and geographies in the region. Coverage terms have broadened, retentions have fallen, and underwriting processes are being continually refined to become increasingly streamlined."
Keshaya Yap, Liberty Global Transaction Solutions
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Nuclear: "The insurance sector is poised to play a central and enabling role in Asia’s nuclear expansion. As countries in the region move from exploration to active planning and construction – especially with a focus on SMRs – they will require innovative risk transfer solutions."
Clifford Blayney, Markel International
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US$100bn cat bond market ‘in reach’ as 2026 heads for record issuance: Gallagher Re
Strong demand from investors for new perils and for risk from underrepresented regions such as Asia Pacific, according to Jason Bolding, CEO of Gallagher Securities.
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Insurance seen as ‘genuine tipping point’ for Asia’s first major carbon capture, storage hubs
Consortium identifies India, Indonesia, Malaysia, and Australia as potential storage sites across the Asia Pacific, but insurers warn projects may not secure financing without long-term risk cover.
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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.
‘We have to be robust, stable through this cycle’: Swiss Re CorSo’s Robert Hunziker
Robert Hunziker, Asia head at Swiss Re CorSo, sits down with InsuranceAsia News to discuss the progress the commercial insurer has made in the region since its reorganisation last year and its strategic priorities.
We don’t need to put a flag in every country and town: Lockton Asia’s Tony Hardy
Tony Hardy, CEO of Lockton Asia, discusses the US broker’s efforts to double its revenue in the region by 2030, and its recent deal to take majority ownership of its Malaysian joint venture.
Insurtech: "As the [AI] hype continues, so does the imperative for insurers, insurtechs and distributors to look beyond the noise to the underlying forces at play."
David Lynch, bolttech