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Asia’s ‘interlinked’ protection gaps require a virtuous cycle of risk reduction, insurance, and government backing: GAIP
CEO Min Hung Cheng tells InsuranceAsia News about the non-profit organisation's three interdependent layers of solutions to address risk and protection gaps.
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Aon Malaysia confirms double leadership promotions
Country CEO Neelay Patel confirms the promotions of Ming Hui Lim and Ram Nandrajog.
Aon Malaysia confirms double leadership promotions
Country CEO Neelay Patel confirms the promotions of Ming Hui Lim and Ram Nandrajog.
Country CEO Neelay Patel confirms the promotions of Ming Hui Lim and Ram Nandrajog.
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Aon appoints Tokio Marine veteran Max Hirai as Japan CEO
He was most recently Asia CEO for Tokio Marine Holdings in Singapore.
Aon appoints Tokio Marine veteran Max Hirai as Japan CEO
He was most recently Asia CEO for Tokio Marine Holdings in Singapore.
He was most recently Asia CEO for Tokio Marine Holdings in Singapore.
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Malaysian Re parent snaps up Labuan Re in US$100m deal
MNRB Holdings will acquire 80% of the reinsurer, while Malaysian Re will retain its 20% stake.
Malaysian Re parent snaps up Labuan Re in US$100m deal
MNRB Holdings will acquire 80% of the reinsurer, while Malaysian Re will retain its 20% stake.
MNRB Holdings will acquire 80% of the reinsurer, while Malaysian Re will retain its 20% stake.
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Seadrif taps Richard Poulter to lead sovereign asset and fiscal empowerment facility
He was formerly chief risk officer at the Pacific Catastrophe Risk Insurance Company.
Seadrif taps Richard Poulter to lead sovereign asset and fiscal empowerment facility
He was formerly chief risk officer at the Pacific Catastrophe Risk Insurance Company.
He was formerly chief risk officer at the Pacific Catastrophe Risk Insurance Company.
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Insurance adviser Pro Global expands into APAC with Australian acquisition
Acquisition extends territorial coverage for audit and advisory services into Australia, supporting clients with increasingly complex oversight, governance and operational resilience requirements across multiple jurisdictions.
Insurance adviser Pro Global expands into APAC with Australian acquisition
Acquisition extends territorial coverage for audit and advisory services into Australia, supporting clients with increasingly complex oversight, governance and operational resilience requirements across multiple jurisdictions.
Acquisition extends territorial coverage for audit and advisory services into Australia, supporting clients with increasingly complex oversight, governance and operational resilience requirements across multiple jurisdictions.
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Markel, Willis launch dedicated nuclear insurance facility
Facility will provide capacity property damage and business interruption cover for nuclear-critical and conventional exposures spanning construction through to operation.
Markel, Willis launch dedicated nuclear insurance facility
Facility will provide capacity property damage and business interruption cover for nuclear-critical and conventional exposures spanning construction through to operation.
Facility will provide capacity property damage and business interruption cover for nuclear-critical and conventional exposures spanning construction through to operation.
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War overtakes civil unrest as top PVT risk for most Asia Pacific firms: Allianz Commercial
Financial loss of the conflict in the Middle East has the potential to result in a larger insured loss than PVT claims arising from the war in Ukraine, according to Allianz Commercial’s latest risk barometer report.
War overtakes civil unrest as top PVT risk for most Asia Pacific firms: Allianz Commercial
Financial loss of the conflict in the Middle East has the potential to result in a larger insured loss than PVT claims arising from the war in Ukraine, according to Allianz Commercial’s latest risk barometer report.
Financial loss of the conflict in the Middle East has the potential to result in a larger insured loss than PVT claims arising from the war in Ukraine, according to Allianz Commercial’s latest risk barometer report.
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APAC construction market remains competitive amid digital infrastructure growth: Aon
Hyperscale data centres, battery plants and semiconductor facilities are driving higher-value and more technically complex projects, leading insurers to increase focus on nat cat exposures, project governance and delay risks.
APAC construction market remains competitive amid digital infrastructure growth: Aon
Hyperscale data centres, battery plants and semiconductor facilities are driving higher-value and more technically complex projects, leading insurers to increase focus on nat cat exposures, project governance and delay risks.
Hyperscale data centres, battery plants and semiconductor facilities are driving higher-value and more technically complex projects, leading insurers to increase focus on nat cat exposures, project governance and delay risks.
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Australia’s cyclone pool cuts premiums by 37%, boosts availability in high-risk areas: ARPC
Government-backed reinsurance scheme improves affordability and access in cyclone-prone regions, with insurer participation driving a 27% rise in policy availability since its launch in 2022.
Australia’s cyclone pool cuts premiums by 37%, boosts availability in high-risk areas: ARPC
Government-backed reinsurance scheme improves affordability and access in cyclone-prone regions, with insurer participation driving a 27% rise in policy availability since its launch in 2022.
Government-backed reinsurance scheme improves affordability and access in cyclone-prone regions, with insurer participation driving a 27% rise in policy availability since its launch in 2022.
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Zurich Australia appoints Giles Crowley, Sarah Powell to newly created leadership roles
Insurer names Crowley as head of customer and distribution management for APAC, with Powell named head of international broker and customer engagement.
Zurich Australia appoints Giles Crowley, Sarah Powell to newly created leadership roles
Insurer names Crowley as head of customer and distribution management for APAC, with Powell named head of international broker and customer engagement.
Insurer names Crowley as head of customer and distribution management for APAC, with Powell named head of international broker and customer engagement.
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Liberty Mutual hikes stake in India unit to 74%
Move follows earlier increase in Liberty Mutual's stake from 49% to 55.4% in September.
Liberty Mutual hikes stake in India unit to 74%
Move follows earlier increase in Liberty Mutual's stake from 49% to 55.4% in September.
Move follows earlier increase in Liberty Mutual's stake from 49% to 55.4% in September.
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Opinion: No pain, no gain: who will be left once the Indian dust settles?
'Fierce competition' is driving price reductions across all major lines of business, with double-digit discounts available for property, D&O and cyber.
Opinion: No pain, no gain: who will be left once the Indian dust settles?
'Fierce competition' is driving price reductions across all major lines of business, with double-digit discounts available for property, D&O and cyber.
'Fierce competition' is driving price reductions across all major lines of business, with double-digit discounts available for property, D&O and cyber.
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Asia Pacific MGA market has ‘a lot of headroom’ for growth
GC Access' Steve Warwick highlights strong expansion potential, with MGAs generating new business through talent and technology.
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‘Extremely unpredictable’: Marsh, Aon warn of critical risk, tighter terms for Strait of Hormuz transits
Escalating clashes in the key waterway have forced insurers to radically reduce deployment and recalibrate pricing in near real-time, industry insiders say.
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Soft market deepens dilemma at BIBA as brokers navigate rising risk, cyber demands
Themes of a softening market, growing cyber risk, and increasing complexity was the focus at the British Brokers' Association's (BIBA) annual conference in Manchester this week.
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Strait of Hormuz, US-China tensions to the fore as London market examines major geopolitical threats
UK political instability and challenges to the US dollar's dominance were also high on the agenda at the first Global Risk Summit in London this week.
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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Asia’s ‘interlinked’ protection gaps require a virtuous cycle of risk reduction, insurance, and government backing: GAIP
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Tokio Marine open to more ILS deals ‘if there’s any room’, as Kizuna Re highlights strong earthquake demand
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‘Expectation vs. experience is the opportunity’: Vietnam’s TCGIns doubles down on AI, health, SME insurance
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Tokio Marine GX ‘treading carefully’ on Singapore entry as market softens, chairman says
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Igloo charts next growth phase with international M&A, AI-native overhaul, category expansion
M&A
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Malaysian Re parent snaps up Labuan Re in US$100m deal
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Insurance adviser Pro Global expands into APAC with Australian acquisition
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Liberty Mutual hikes stake in India unit to 74%
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Steadfast-owned Miramar acquires Australian sports specialist MGA
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Marsh to acquire Japanese energy giant Eneos’ insurance units
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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PartnerRe | Understanding ageing in APAC: why perception, planning and protection don’t always align
Ageing is shaping finances, family dynamics and insurance needs of the caregiving ecosystem, but current product propositions and underwriting frameworks are not keeping pace with protection needs, finds PartnerRe survey.
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Aon Malaysia confirms double leadership promotions
Country CEO Neelay Patel confirms the promotions of Ming Hui Lim and Ram Nandrajog.
-
Aon appoints Tokio Marine veteran Max Hirai as Japan CEO
He was most recently Asia CEO for Tokio Marine Holdings in Singapore.
-
Seadrif taps Richard Poulter to lead sovereign asset and fiscal empowerment facility
He was formerly chief risk officer at the Pacific Catastrophe Risk Insurance Company.
-
Zurich Australia appoints Giles Crowley, Sarah Powell to newly created leadership roles
Insurer names Crowley as head of customer and distribution management for APAC, with Powell named head of international broker and customer engagement.
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Guy Carpenter names Andrew Hare as head of growth for APAC
Singapore-based Hare joins from fintech firm FIS, where he had been vice president and head of insurance for Asia Pacific since July.
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Kiwi broker Rothbury appoints Aon veteran Charlene Kitching as head of broking services
Role, which will see Kitching work from Rothbury’s Tauranga office, was created following a review of business operations.
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Sompo hires Megan Yeung as senior casualty underwriter for Hong Kong, Macau, Taiwan
Most recently a casualty underwriter at Axa XL, Hong Kong-based Yeung is specialised in product and general liability.
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Cyber insurer Cowbell taps Gerry Power as Australia general manager
Cyber insurer has been building out its business in Australia with the backing of Zurich Insurance.
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Swiss Re Asia adds Daniel Neo to its board of directors
Neo, who was CEO formerly Asia Pacific at Sompo Holdings, will join the board on June 1.
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Delta Insurance New Zealand hires Petr Dorofeev as tech, cyber product lead
He joins the MGA in Auckland from Suncorp.
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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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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.
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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.
Overseeing energy transition in APAC: Tokio Marine GX’s Fraser McLachlan
Fraser McLachlan, Tokio Marine GX chairman, talks to InsuranceAsia News about overseeing energy transition in APAC.
Growth opportunity for renewables across the region substantial: HDI Global’s Haris Michaels
Haris Michaels, head of energy and power at HDI Global Singapore, talks to InsuranceAsia News about the evolution of Southeast Asia's energy insurance market.
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