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Trade credit insurers expect ‘harder’ market as insolvencies return to pre-Covid highs
A 'buyer’s market' prevails as claims have yet to exceed pre-pandemic levels. But rising geopolitical and trade tensions have boosted intra-Asia trade and insurance demand, with some carriers expanding investments in the region.
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Ping An Insurance eyes US$3.5bn fundraise: report
The insurer will raise the funds through a convertible bond offering, according to a Bloomberg report.
Ping An Insurance eyes US$3.5bn fundraise: report
The insurer will raise the funds through a convertible bond offering, according to a Bloomberg report.
The insurer will raise the funds through a convertible bond offering, according to a Bloomberg report.
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Peak Re promotes Davide Menezes as chief risk officer
Hong Kong-based Menezes has been serving as the deputy chief risk officer at the global reinsurer since September 2022.
Peak Re promotes Davide Menezes as chief risk officer
Hong Kong-based Menezes has been serving as the deputy chief risk officer at the global reinsurer since September 2022.
Hong Kong-based Menezes has been serving as the deputy chief risk officer at the global reinsurer since September 2022.
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China’s nat cat economic losses hit US$13bn in H1 2024 as flood claims rise
95,000 claims from the intense rain across eight southern China provinces have reached CNY3.21bn, according to NFRA's latest data.
China’s nat cat economic losses hit US$13bn in H1 2024 as flood claims rise
95,000 claims from the intense rain across eight southern China provinces have reached CNY3.21bn, according to NFRA's latest data.
95,000 claims from the intense rain across eight southern China provinces have reached CNY3.21bn, according to NFRA's latest data.
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Great Eastern privatisation deal falls short of compulsory acquisition threshold
Trading in Great Eastern shares will be suspended after OCBC failed to garner enough shares from minority shareholders, putting the take-private bid and the insurer's listing status in a stalemate.
Great Eastern privatisation deal falls short of compulsory acquisition threshold
Trading in Great Eastern shares will be suspended after OCBC failed to garner enough shares from minority shareholders, putting the take-private bid and the insurer's listing status in a stalemate.
Trading in Great Eastern shares will be suspended after OCBC failed to garner enough shares from minority shareholders, putting the take-private bid and the insurer's listing status in a stalemate.
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PartnerRe hands Sasa Hu expanded role of APAC P&C CUO
Hu will remain in Hong Kong whilst also maintaining her current role of head of agriculture.
PartnerRe hands Sasa Hu expanded role of APAC P&C CUO
Hu will remain in Hong Kong whilst also maintaining her current role of head of agriculture.
Hu will remain in Hong Kong whilst also maintaining her current role of head of agriculture.
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Axa XL expands Australian team with two senior hires
Based in Sydney, Sugra Kaur has been appointed senior casualty underwriter while Melbourne-based Rhys Anthony has joined as senior claims specialist for property.
Axa XL expands Australian team with two senior hires
Based in Sydney, Sugra Kaur has been appointed senior casualty underwriter while Melbourne-based Rhys Anthony has joined as senior claims specialist for property.
Based in Sydney, Sugra Kaur has been appointed senior casualty underwriter while Melbourne-based Rhys Anthony has joined as senior claims specialist for property.
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China Taiping former deputy manager pleads guilty to accepting US$11m in bribes
The former insurance industry top boss, who had served China Taiping Insurance Group and China Life Insurance, now awaits a verdict from the Intermediate People's Court of Xinxiang in Henan province.
China Taiping former deputy manager pleads guilty to accepting US$11m in bribes
The former insurance industry top boss, who had served China Taiping Insurance Group and China Life Insurance, now awaits a verdict from the Intermediate People's Court of Xinxiang in Henan province.
The former insurance industry top boss, who had served China Taiping Insurance Group and China Life Insurance, now awaits a verdict from the Intermediate People's Court of Xinxiang in Henan province.
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Berkley Insurance Asia promotes Hank Yeo to financial lines senior underwriter
Singapore-based Yeo has been with the insurer since 2020, focusing on directors and officers liability, professional liability, and investment management insurance.
Berkley Insurance Asia promotes Hank Yeo to financial lines senior underwriter
Singapore-based Yeo has been with the insurer since 2020, focusing on directors and officers liability, professional liability, and investment management insurance.
Singapore-based Yeo has been with the insurer since 2020, focusing on directors and officers liability, professional liability, and investment management insurance.
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Allianz Commercial names Young Jeong Lee as head of financial lines, Korea
Lee joined from Samsung Fire & Marine, where he worked 12 years as a senior professional in its finance and energy department and global strategy department.
Allianz Commercial names Young Jeong Lee as head of financial lines, Korea
Lee joined from Samsung Fire & Marine, where he worked 12 years as a senior professional in its finance and energy department and global strategy department.
Lee joined from Samsung Fire & Marine, where he worked 12 years as a senior professional in its finance and energy department and global strategy department.
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Chinese carrier Zhonglu’s underwriting risk selection tested by business expansion: Fitch
The rating agency has affirmed its 'BBB' rating with a stable outlook, adding that its growth expectation through 2026 may expose it to larger cat losses.
Chinese carrier Zhonglu’s underwriting risk selection tested by business expansion: Fitch
The rating agency has affirmed its 'BBB' rating with a stable outlook, adding that its growth expectation through 2026 may expose it to larger cat losses.
The rating agency has affirmed its 'BBB' rating with a stable outlook, adding that its growth expectation through 2026 may expose it to larger cat losses.
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Asia Pacific reinsurance market finds a new equilibrium
While the market is ‘finely balanced’ for now, its sustainability will depend on the loss activity in the remaining six months of 2024, according to reinsurance experts and analysts.
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Asia carriers looking to extend renewables capacity as projects soar
Large and complex regional projects exposed to nat cat risks could still find it hard to secure insurance as they require specialist underwriting expertise from London markets.
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Zurich turbocharges Hong Kong EV insurance business by courting used car owners
As a key growth area for the city, Zurich has dialled up its effort to attract EV policyholders to switch from competitors and is exploring more product opportunities for the Greater Bay Area, says Clement Hau, chief underwriting officer for general insurance, Hong Kong.
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Easing hard market cycle shifts carriers’ focus to APAC M&A, tech megatrends
More (re)insurers are riding on new tech trends to profit from over US$200bn premium potential, as there is also a growing interest in M&A opportunities in the region, according to Aon’s strategy and technology group.
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WTW’s Asia specialty build-out targets region’s complex risk landscape
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Nova Insurance sees ‘unique’ greater China proposition driving growth
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Specialist Risk Group eyes Asia expansion with focus on specialisms
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AI key to exposure management, risk assessment beyond covered perils: CCR Re
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Asta looks to regional underwriters as it seeks new Lloyd’s Asia syndicates
M&A
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Great Eastern privatisation deal falls short of compulsory acquisition threshold
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Easing hard market cycle shifts carriers’ focus to APAC M&A, tech megatrends
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Minority shareholder of Chubb-backed Huatai Insurance puts US$10m stake up for sale
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Hong Kong’s new RBC regime could trigger more industry consolidation: S&P Global
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Envest appoints ex-Honey Insurance Eoghan Trehy to lead Resilium Partners
ESG
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Asia carriers looking to extend renewables capacity as projects soar
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Insurers tap voluntary carbon market as Asia set to plug supply shortfall
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Singapore oil spill losses set to rise as slick hits Malaysian waters
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Japanese carriers walk a thin line on ESG underwriting: Fitch
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Exclusive: NorthStandard, British Marine face losses from Singapore oil spill
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PE-backed reinsurers provide access to asset classes and investment expertise that often don’t exist within the traditional carriers themselves.
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Peak Re promotes Davide Menezes as chief risk officer
Hong Kong-based Menezes has been serving as the deputy chief risk officer at the global reinsurer since September 2022.
-
PartnerRe hands Sasa Hu expanded role of APAC P&C CUO
Hu will remain in Hong Kong whilst also maintaining her current role of head of agriculture.
-
Axa XL expands Australian team with two senior hires
Based in Sydney, Sugra Kaur has been appointed senior casualty underwriter while Melbourne-based Rhys Anthony has joined as senior claims specialist for property.
-
Berkley Insurance Asia promotes Hank Yeo to financial lines senior underwriter
Singapore-based Yeo has been with the insurer since 2020, focusing on directors and officers liability, professional liability, and investment management insurance.
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Allianz Commercial names Young Jeong Lee as head of financial lines, Korea
Lee joined from Samsung Fire & Marine, where he worked 12 years as a senior professional in its finance and energy department and global strategy department.
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SBI General Insurance taps Liberty’s Udayan Joshi as chief technical & claims officer
The former president of Liberty General Insurance in Mumbai has joined the Indian insurer where he will be in charge of shaping its underwriting and reinsurance initiatives.
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Sompo ropes in AIG’s Bill Zhang as consumer lines president for APAC
Zhang will be responsible for leading the consumer lines strategy and operating model across Asia Pacific, reporting to Kenneth Reilly, APAC CEO of insurance.
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Axa elevates Torsten Blake Bohm as CIO for Hong Kong, Macau
Bohm, who has held a number of senior roles with Axa in Hong Kong, replaces Fanda Ho, who is understood to have left the carrier.
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Aon promotes Marguerita Silitonga to Indonesia president director of reinsurance solutions
Jakarta-based Silitonga will be responsible for driving growth and managing all operations in the country. She reports to Musa Adlan, executive director and head of Aon's Reinsurance Solutions in South-East Asia.
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Crawford hires Curtis Oakes as New South Wales business development manager
With over 15 years of industry experience, Sydney-based Oakes has spent time working at global insurers such as QBE, and Aviva
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Why are take-up rates for environmental impairment liability insurance low in Asia?
Jui Lien Chung, AXA XL
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How to build more inclusive insurance markets
Melissa Leitner, Swiss Re
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Singapore (re)insurance market extends lead as Hong Kong hit by lacklustre UW results
While overall GWP growth in both cities were similar, the Lion City's primary insurers saw significant growth in 2023 compared with peers in the SAR, data from the cities’ regulators show.
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Australian GI brokers see 22% growth in 2023
The GWP placed by the country's brokers with Lloyd’s underwriters in 2023 more than doubled to US$5.75bn, APRA data for last year shows.
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Motor results shore up Korean majors’ FY23 underwriting performance
While the carriers have seen strong premium growth in the past year, their long-term and commercial businesses' underwriting returns remain under pressure and weighed on overall results.
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Singapore’s H1 P&C underwriting profits nearly double
(Re)insurers benefited from strong premium growth in engineering and credit lines and a lower claims tally, however aviation hull and cargo GWP declined, according to MAS data.
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Asian marine premiums cross US$10bn despite slowing cargo growth
Flattening economic growth in China and the strengthening dollar drive down cargo premiums from the region, while hull premiums benefit from post-Covid recovery, says IUMI.
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Chinese P&C carriers focus on agri, liability offerings in acceleration away from motor
Improved underwriting results, new products and a push from the government are driving growth, but an uncertain economic outlook has seen carriers rush to pare credit surety exposures.
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China reopening to drive non-life growth as APAC nat cat protection gap widens
Swiss Re is forecasting emerging Asia to see non-life growth of over 6.5% in 2023 with global P&C premiums set to cross US$4tn this year.
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Hong Kong and China P&C players’ underwriting margins squeezed
Carriers are under pressure as reinsurance costs rise, however, at 10% coverage for the top 15 Chinese insurers, there is plenty of room to grow.
Reinsurance Market Trends in Asia Pacific
Tony Gallagher, Asia Pacific CEO at Guy Carpenter
Managing non-Asian exposure in long-tail lines
Marc Breuil, Head of Asia Middle East and Marcus Portbury, Head of third party lines, Asia at Berkshire Hathaway Specialty Insurance
Driving Insurance Transformation with Data and Digitalisation
Luke Ware, Head of Corporate Risk & Broking, Asia at WTWIndustry insights and in-depth analysis
Our reports take deep dives into a variety of themes with comments from leading practitioners, data and proprietary analytics. Keep on top of the latest market trends and discover opportunities with our reports.
Contentious losses: "A forensic investigation should be ‘evidence-led’, meaning it should have an emphasis on the objective presentation of all evidence from which conclusions are then drawn."
Peter Jeffrey, Halliwell