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‘Lifeblood of global trade’ under pressure amid rising tide of climate threat

With Asia home to nine of the 10 busiest container ports in the world, a new report has found that 90% of the world’s 3,700 major ports are exposed to damaging climate hazards.
Premium growth, economic resilience benefit Indonesian non-life insurers despite underwriting pressures: AM Best

The rating agency maintained a stable outlook on Asean country's non-life insurance segment, reflecting expectations of continued premium expansion.

Premium growth, economic resilience benefit Indonesian non-life insurers despite underwriting pressures: AM Best

The rating agency maintained a stable outlook on Asean country's non-life insurance segment, reflecting expectations of continued premium expansion.

The rating agency maintained a stable outlook on Asean country's non-life insurance segment, reflecting expectations of continued premium expansion.
Aon promotes Joe Gardner to Asian broking leader for crisis management

Gardner joined the broker in 2022 as director for terrorism from WTW.

Aon promotes Joe Gardner to Asian broking leader for crisis management

Gardner joined the broker in 2022 as director for terrorism from WTW.

Gardner joined the broker in 2022 as director for terrorism from WTW.
Kiwi Natural Hazards Commission invites bids from reinsurance brokers for 2027 renewal

The NHC intends to release a request for proposal in April to May next year and will select a new broker by late August 2026.

Kiwi Natural Hazards Commission invites bids from reinsurance brokers for 2027 renewal

The NHC intends to release a request for proposal in April to May next year and will select a new broker by late August 2026.

The NHC intends to release a request for proposal in April to May next year and will select a new broker by late August 2026.
Aon elevates Wee Teck Tea to spearhead commercial risk solutions in Singapore

Tea has been with the global broker for over 14 years, most recently as executive director, head of P&C, affinity, claims.

Aon elevates Wee Teck Tea to spearhead commercial risk solutions in Singapore

Tea has been with the global broker for over 14 years, most recently as executive director, head of P&C, affinity, claims.

Tea has been with the global broker for over 14 years, most recently as executive director, head of P&C, affinity, claims.
Coalition promotes Trent Nihill to Australia country manager

Since launching in Australia in 2023, the cyber specialist MGA has written over 5,000 local policies.

Coalition promotes Trent Nihill to Australia country manager

Since launching in Australia in 2023, the cyber specialist MGA has written over 5,000 local policies.

Since launching in Australia in 2023, the cyber specialist MGA has written over 5,000 local policies.
Tokio Marine has more than US$10bn for international acquisitions: report

It will consider deals in Southeast Asia, Australia and Latin America, according to a Bloomberg report quoting Brad Irick.

Tokio Marine has more than US$10bn for international acquisitions: report

It will consider deals in Southeast Asia, Australia and Latin America, according to a Bloomberg report quoting Brad Irick.

It will consider deals in Southeast Asia, Australia and Latin America, according to a Bloomberg report quoting Brad Irick.
Hannover Re names Kantaporn Thejatunga (Jan) as L&H GM in Malaysia

Thejathunga succeeds Soeren Kruse, who was appointed head of life and health for southern and eastern Asia earlier this year.

Hannover Re names Kantaporn Thejatunga (Jan) as L&H GM in Malaysia

Thejathunga succeeds Soeren Kruse, who was appointed head of life and health for southern and eastern Asia earlier this year.

Thejathunga succeeds Soeren Kruse, who was appointed head of life and health for southern and eastern Asia earlier this year.
MS Amlin adds trio of underwriters to APAC team

Firm appoints Darren Toh and Yosuke Yasuda as senior underwriters, and Amirul PJ Ashraf as an underwriter.

MS Amlin adds trio of underwriters to APAC team

Firm appoints Darren Toh and Yosuke Yasuda as senior underwriters, and Amirul PJ Ashraf as an underwriter.

Firm appoints Darren Toh and Yosuke Yasuda as senior underwriters, and Amirul PJ Ashraf as an underwriter.
Rajesh Pawar to become interim MD at GIC Re as Ramaswamy Narayanan retires: reports

Pawar is currently a general manager of the Indian state-owned reinsurer.

Rajesh Pawar to become interim MD at GIC Re as Ramaswamy Narayanan retires: reports

Pawar is currently a general manager of the Indian state-owned reinsurer.

Pawar is currently a general manager of the Indian state-owned reinsurer.
MSFC upgraded amid robust capital position, stable underwriting: AM Best

Global rating agency upgrades MS First Capital Insurance's (MSFC) rating to A+ (superior) from A (excellent), while its rating outlook was revised to stable from positive.

MSFC upgraded amid robust capital position, stable underwriting: AM Best

Global rating agency upgrades MS First Capital Insurance's (MSFC) rating to A+ (superior) from A (excellent), while its rating outlook was revised to stable from positive.

Global rating agency upgrades MS First Capital Insurance's (MSFC) rating to A+ (superior) from A (excellent), while its rating outlook was revised to stable from positive.
ARPC in ‘strong financial position’ despite ‘large scale’ impact of ex-Tropical Cyclone Alfred

Australian Reinsurance Pool Corporation suffered an operating deficit of US$587.5m during the 2024-25 financial year, according to its annual report.

ARPC in ‘strong financial position’ despite ‘large scale’ impact of ex-Tropical Cyclone Alfred

Australian Reinsurance Pool Corporation suffered an operating deficit of US$587.5m during the 2024-25 financial year, according to its annual report.

Australian Reinsurance Pool Corporation suffered an operating deficit of US$587.5m during the 2024-25 financial year, according to its annual report.
Japanese offshore wind a ‘big opportunity’ for (re)insurers: Tokio Marine

Head of marine, hull and energy Hiroyuki Ishijima speaks to InsuranceAsia News about Japan's target of having at least 30-45 gigawatts of offshore wind capacity by 2040.

Japanese offshore wind a ‘big opportunity’ for (re)insurers: Tokio Marine

Head of marine, hull and energy Hiroyuki Ishijima speaks to InsuranceAsia News about Japan's target of having at least 30-45 gigawatts of offshore wind capacity by 2040.

Head of marine, hull and energy Hiroyuki Ishijima speaks to InsuranceAsia News about Japan's target of having at least 30-45 gigawatts of offshore wind capacity by 2040.

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“Ports, terminals, and logistics operations, which are vital to economic prosperity and higher standards of living, underpin global trade and are being routinely exposed to climate-related hazards that threaten their operational models, safety, and long-term economic output.”

Marika Calfas, TT Club

Analysis

Eye in the sky expands tropical cyclone coverage across Australia, Japan to ‘fill the gap’ amid rising demand

Finnish firm ICEYE is also close to launching an earthquake product in Japan, global head of insurance Stephen Lathrope tells InsuranceAsia News.
Closing growing US$2.5trn protection void ‘a matter of economic prosperity’, LIIBA chief says

Report from the London & International Insurance Brokers’ Association (LIIBA) says specialty brokers are the innovation engine of the insurance industry, CEO Christopher Croft tells InsuranceAsia News.
Russian attacks in Ukraine underline precariousness of nuclear pools as gaps come to light

A nuclear energy revival and geopolitical challenges put the (re)insurance sector in focus.
Typhoon Bualoi: damage to Vietnamese thermal power plant may trigger reinsurance claims

Starr is the lead reinsurer for the PVI-led insurance program of the supercritical project in the northern Ha Tinh province, InsuranceAsia News understands.

Between The Lines

A fortnightly podcast that unpacks the pivotal stories and trends shaping the (re)insurance industry across Asia Pacific.

Episode guest: Will Hiller, underwriter, Tokio Marine GX

With Mithun Varkey, Andrew Mullen, Aidan Gregory, Joana Nguyen and Roshan Nambiar

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M&A

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ESG

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Opinion

Pulling this all together, what I think all of this demonstrates is that effective disaster risk management is really worth its weight in gold, and that Hong Kong really can be said to be a world leader.

Marcus Alcock

‘Dib dib dob dob’: Hong Kong’s disaster risk management leads the way, highlighted by subdued Super Typhoon Ragasa losses

When will Fukushima’s shadow finally disappear for the insurance market?

A bruising year lies ahead for APAC’s underwriters

No handouts, please!: How long should the taxpayer foot the bill for India’s partly bad, partly good insurance market?

After Russia earthquake scare, is Japan’s resurgent nuclear industry really prepared for the ‘Big One’?

How far must temperatures rise before APAC commercial market really walks away from climate risk?

Specialty market set to be tested in the fire once again as Iran escalation evokes memories of Gulf War

Without a captain of the ship, are India’s insurance reforms in danger of being blown off course?

Lloyd’s

AIG-backed Lloyd’s syndicate Talbot names APAC fine arts, specie underwriter

Chris Mackinnon to leave Lloyd’s in 2026 to pursue new opportunities

Market Lane launches specialty reinsurance MGA

Carbon credit specialist Oka launches in Singapore

Ariel Re to launch new Lloyd’s syndicate 2006

Lloyd’s looks to drive regional penetration, but conditions have to be right: Patrick Tiernan

Agile appoints Gordon McNab to lead construction build out

Lloyd’s Asia surpasses US$1bn GWP milestone in 2024 amid double-digit growth

Partner Content

Peak Re | From climate modelling to market opportunity: Forging a new clarity on Southeast Asia’s climate risk

Southeast Asia's protection gap: a crisis of clarity, not just capital
BHSI WICare+ | Accelerating Payments, Empowering Recovery

Launched in cooperation with Steadfast’s Singapore network, WICare+ fills the gaps found in traditional coverage and keeps businesses and their workforce secure by covering up to SG$350,000 in medical expenses per claim.

Cyber

Coalition promotes Trent Nihill to Australia country manager

Geopolitical risks on the rise; cyber, AI and climate dominate future risks: Aon survey

Addressing protection gap requires collaborative effort, says HKIA’s Stephen Yiu

‘An enabler of resilience’: cyber insurance key as APAC SMEs face up to ransomware, AI threat

Circles seeks to close the loop on ‘massive gap’ faced by Singapore’s SMEs with Singlife tie up

Howden strengthens Pacific cyber offering with Lockton hire

Axa XL India hires Bipin Titus as senior underwriter

Australian MGA Blue Zebra eyes commercial lines expansion, earning its stripes overseas

People

Aon promotes Joe Gardner to Asian broking leader for crisis management

Gardner joined the broker in 2022 as director for terrorism from WTW.

Aon elevates Wee Teck Tea to spearhead commercial risk solutions in Singapore

Tea has been with the global broker for over 14 years, most recently as executive director, head of P&C, affinity, claims.

Coalition promotes Trent Nihill to Australia country manager

Since launching in Australia in 2023, the cyber specialist MGA has written over 5,000 local policies.

Hannover Re names Kantaporn Thejatunga (Jan) as L&H GM in Malaysia

Thejathunga succeeds Soeren Kruse, who was appointed head of life and health for southern and eastern Asia earlier this year.

MS Amlin adds trio of underwriters to APAC team

Firm appoints Darren Toh and Yosuke Yasuda as senior underwriters, and Amirul PJ Ashraf as an underwriter.

Rajesh Pawar to become interim MD at GIC Re as Ramaswamy Narayanan retires: reports

Pawar is currently a general manager of the Indian state-owned reinsurer.

WTW promotes Emma Spencer to account director in Brisbane

Industry veteran had previously worked with Marsh Australia and New Zealand, Aon Risk Solutions and Macquarie Group.

Christoph Spichtig to lead Ageas Re’s APAC property underwriting

Zurich-based Spichtig joined Ageas Re as lead underwriter for Asia Pacific in September following over 17 years with Scor.

Rokstone adds 2 veteran marine underwriters to Singapore team

Specialty MGA is building out its Singapore hub led by Rama Chandran.

Aon builds out regional construction team with Miller hire

Global broker appoints Singapore-based Selinda Wu as a regional director for construction and infrastructure in Asia.

Comment

Aviation : ''Without a deeper talent pipeline, better training infrastructure, and more rigorous oversight, the region’s capacity to meet rising demand may falter, impacting insurers and operators alike''

Tan Soon Keat, McLarens Aviation

Cybersecurity: ''For insurers, rather than treating certifications as sufficient proof of security, they should demand evidence of ongoing monitoring of their security posture''

Marc Krisjanous, SixBlocks Audit

Trade credit: ''Asia-Pacific countries are well-positioned to benefit from redirected trade flows as global supply chains adjust''

Nicholas Davies, Markel

Insurtech: "The industry is transforming towards a smarter, more personalised risk ecosystem, where AI becomes a foundational capability embedded within intelligent products and processes."

David Lynch, bolttech

2004 tsunami: "Memories of the tsunami are painful; they prompt us to reflect on the steps we have taken – and how far we must go – to build the region’s resilience to disasters of this scale in future."

Victor Kuk, Swiss Re

IFRS 17: "Rather than looking for temporary workarounds and tactical solutions, the efficiency of the whole end-to-end (E2E) financial reporting chain will need to be reengineered."

Martyn van Wensveen, EY

Flood resilience: "Mitigating and adapting to urban flooding requires a comprehensive approach that combines structural solutions along with non-structural approaches."

Sonia Rawal, Allianz Re

Maritime energy transition: "Commercial considerations that act as a brake to information sharing must be weighed up against the risk of missing important pieces of the decarbonisation jigsaw."

Helen Barden, NorthStandard

Analytics

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.

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.

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.

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.

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.

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.

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.

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.