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APAC firms preparing to fail as ‘jarring’ cyber shortfall emerges despite increased threat
Companies’ vulnerabilities are growing as attack surface has increased and there is real prospect of regulatory intervention, consumer action and long-term reputational damage.
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Singapore’s general insurance GWP rises 6.3% to US$8bn in 2024
Underwriting profit, across the domestic and offshore segments, grew 5.6% to US$480m, the General Insurance Association of Singapore said.
Singapore’s general insurance GWP rises 6.3% to US$8bn in 2024
Underwriting profit, across the domestic and offshore segments, grew 5.6% to US$480m, the General Insurance Association of Singapore said.
Underwriting profit, across the domestic and offshore segments, grew 5.6% to US$480m, the General Insurance Association of Singapore said.
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Hong Kong’s FuSure secures long-term insurance authorisation, upgrades to composite licence
Tencent-owned insurer plans to expand into diversified product lines and explore other international markets.
Hong Kong’s FuSure secures long-term insurance authorisation, upgrades to composite licence
Tencent-owned insurer plans to expand into diversified product lines and explore other international markets.
Tencent-owned insurer plans to expand into diversified product lines and explore other international markets.
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Steadfast restructures leadership team as COO departs
Nigel Fitzgerald will step down on July 1, with Noelene Palmer taking over the role, while Tim Mathieson has been promoted to CEO of Australasia broking.
Steadfast restructures leadership team as COO departs
Nigel Fitzgerald will step down on July 1, with Noelene Palmer taking over the role, while Tim Mathieson has been promoted to CEO of Australasia broking.
Nigel Fitzgerald will step down on July 1, with Noelene Palmer taking over the role, while Tim Mathieson has been promoted to CEO of Australasia broking.
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Taiyo Life seals US$4bn annuity reinsurance deal with Fortitude Re
Japanese life insurer will continue to service and administer the reinsured whole life annuity policies.
Taiyo Life seals US$4bn annuity reinsurance deal with Fortitude Re
Japanese life insurer will continue to service and administer the reinsured whole life annuity policies.
Japanese life insurer will continue to service and administer the reinsured whole life annuity policies.
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Everest Re taps Jason Koh for APAC head of financial risk
Singapore-based Koh spent over seven years with Swiss Re, most recently as vice president and senior underwriter for credit and surety.
Everest Re taps Jason Koh for APAC head of financial risk
Singapore-based Koh spent over seven years with Swiss Re, most recently as vice president and senior underwriter for credit and surety.
Singapore-based Koh spent over seven years with Swiss Re, most recently as vice president and senior underwriter for credit and surety.
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Full capacity: Is the Asian (re)insurance market growing?
In the latest issue of our Full Capacity newsletter, we look at April 1 renewals, PFAS risks, recent insurance M&As as well as our weekly roundup of people moves.
Full capacity: Is the Asian (re)insurance market growing?
In the latest issue of our Full Capacity newsletter, we look at April 1 renewals, PFAS risks, recent insurance M&As as well as our weekly roundup of people moves.
In the latest issue of our Full Capacity newsletter, we look at April 1 renewals, PFAS risks, recent insurance M&As as well as our weekly roundup of people moves.
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Marsh, Aon, Axa XL, QBE: 9 APAC insurance people moves of the week
Berkshire Hathaway Specialty Insurance, Sompo Insurance Singapore, Lockton, Steamship Mutual, Howden Specialty, Dual, Howden Private Wealth, Network Insurance Group and Insurance House also made personnel changes over the last week.
Marsh, Aon, Axa XL, QBE: 9 APAC insurance people moves of the week
Berkshire Hathaway Specialty Insurance, Sompo Insurance Singapore, Lockton, Steamship Mutual, Howden Specialty, Dual, Howden Private Wealth, Network Insurance Group and Insurance House also made personnel changes over the last week.
Berkshire Hathaway Specialty Insurance, Sompo Insurance Singapore, Lockton, Steamship Mutual, Howden Specialty, Dual, Howden Private Wealth, Network Insurance Group and Insurance House also made personnel changes over the last week.
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Aon appoints Esther Kim as treaty director
Based in Singapore, she will report to Katy Fairweather, head of global reinsurance clients for Asia, having joined the Korea and regional team.
Aon appoints Esther Kim as treaty director
Based in Singapore, she will report to Katy Fairweather, head of global reinsurance clients for Asia, having joined the Korea and regional team.
Based in Singapore, she will report to Katy Fairweather, head of global reinsurance clients for Asia, having joined the Korea and regional team.
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Australia’s Network Insurance Group, Insurance House name new COO
Brisbane-based Cath Whitaker was most recently director for strategy and risk at Auto & General Australia.
Australia’s Network Insurance Group, Insurance House name new COO
Brisbane-based Cath Whitaker was most recently director for strategy and risk at Auto & General Australia.
Brisbane-based Cath Whitaker was most recently director for strategy and risk at Auto & General Australia.
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Indonesia’s non-life GWP up 13.8% to US$46.7bn in 2024
Underwriting result for P&C insurance segment decreased more than tenfold to US$666m, while reinsurance saw a US$66.6m loss.
Indonesia’s non-life GWP up 13.8% to US$46.7bn in 2024
Underwriting result for P&C insurance segment decreased more than tenfold to US$666m, while reinsurance saw a US$66.6m loss.
Underwriting result for P&C insurance segment decreased more than tenfold to US$666m, while reinsurance saw a US$66.6m loss.
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Despite Typhoon Yagi losses, Hanoi Re to maintain strong capital buffers: AM Best
Global rating agency affirms insurer rating of B++ (good) for the reinsurer, with a stable outlook.
Despite Typhoon Yagi losses, Hanoi Re to maintain strong capital buffers: AM Best
Global rating agency affirms insurer rating of B++ (good) for the reinsurer, with a stable outlook.
Global rating agency affirms insurer rating of B++ (good) for the reinsurer, with a stable outlook.
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Vietnam’s PVI Insurance to benefit from profitable commercial, retail lines: AM Best
Global rating agency affirms insurer rating of A- (excellent) with a stable outlook for Vietnam's largest non-life insurer.
Vietnam’s PVI Insurance to benefit from profitable commercial, retail lines: AM Best
Global rating agency affirms insurer rating of A- (excellent) with a stable outlook for Vietnam's largest non-life insurer.
Global rating agency affirms insurer rating of A- (excellent) with a stable outlook for Vietnam's largest non-life insurer.
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Lloyd’s looks beyond Asia for growth: John Neal
APMEA platform’s 2024 GWP was up 9% year-over-year at US$9.5bn, while global premiums were up 6.5% to US$72bn.
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Philippines 1.4 renewals ‘smooth and steady’, with XoL rates softening by 5-10%
Process more stable compared to last year, and as reinsurers have remained disciplined, negotiations are more predictable and capacity availability has improved, brokers say.
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‘More players, more capacity, more specialisation’: Asia renewables market set to shine as green transition gathers pace
Recent months have seen new high-profile entrants into the Asia renewables market, with further capacity growth and product innovation on the table for 2025 and beyond.
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Just the tip of a liability iceberg as PFAS risks become apparent, but legal reform roadblocks remain
Firms are set to be drawn into litigation, but changes to the law in Australia are unlikely as they could potentially open the government to significant risks, according to a Sydney-based lawyer.
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‘Narrower, deeper’: US specialty insurer not resting on its laurels with energy, marine, specialty plans for Asia
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Exclusive: London P&I Club to dock in Shanghai, sail on Asian wave amid difficult-to-navigate geopolitical storm
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Lights, camera, action: specialist MGA seeks to punch above its weight, prove good things come in small packages
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ILS specialist Twelve Securis eyes APAC after merger, with parametrics set to open doors
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JB Boda’s Rohit Boda talks India’s ‘win-win’ FDI change, eyeing emerging markets and cyber
M&A
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Regulators approve Samsung Fire & Marine’s transition to subsidiary of Samsung Life
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Allianz mulls alliance with India’s Jio after Bajaj sale: report
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Allianz ‘will explore new opportunities’ in India as it exits JVs with Bajaj for US$2.8bn
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Seoul Guarantee shares rally 23% on Kospi debut
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India’s Patanjali, DS Group to acquire Magma General Insurance for US$517m
ESG
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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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Carbon projects a global opportunity for insurers, but grey area remains
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Neelay Patel, Aon head of growth for Asia, says the market in Asia is at an ‘interesting stage of the cycle’.
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Sompo Holdings is taking significant steps to enhance its organizational structure and business strategy to achieve its ambition to become a Japan-born truly global company.
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Living with rising uncertainty from new and emerging risks can be turned into strategic opportunities for businesses.
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Steadfast restructures leadership team as COO departs
Nigel Fitzgerald will step down on July 1, with Noelene Palmer taking over the role, while Tim Mathieson has been promoted to CEO of Australasia broking.
-
Everest Re taps Jason Koh for APAC head of financial risk
Singapore-based Koh spent over seven years with Swiss Re, most recently as vice president and senior underwriter for credit and surety.
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Aon appoints Esther Kim as treaty director
Based in Singapore, she will report to Katy Fairweather, head of global reinsurance clients for Asia, having joined the Korea and regional team.
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Australia’s Network Insurance Group, Insurance House name new COO
Brisbane-based Cath Whitaker was most recently director for strategy and risk at Auto & General Australia.
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Steamship Mutual elevates Jamie Taylor as APAC managing director
Singapore-based Taylor, who was CEO of the Singapore branch prior to the move, spent over 17 years with the P&I Club.
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IUA CEO Dave Matcham to depart after 2 decades of ‘passion’ for Asia
At a turbulent time for London market, Matcham is set to be replaced by International Underwriting Association (IUA) director of legal underwriting and claims, Chris Jones, at the start of May.
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Lockton strengthens marine, energy team in Singapore with Howden hire
Cindy Khoo, who joins the broker as head of business development for marine and energy, will report to Asia head of marine Sung Wook Han.
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Marsh names Brandon Lam as vice president for claims advocacy in Hong Kong
Prior to joining the broker, he worked at Zurich and QBE, holding several claims positions across different lines.
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Howden-owned MGA Dual promotes Damian Browne to deputy general manager for New Zealand
Auckland-based Browne has been at the company since 2021, most recently as an underwriting manager.
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Aon appoints Kevan Johnston CEO of Australia
Sydney-based Johnston succeeds Jennifer Richards, who has been appointed Asia Pacific CEO.
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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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Korean insurers’ record H1 results marred by motor results slump
Rates cuts by major players have led to a a significant deterioration in their motor portfolio in the first six months of the year, while a focus on long-term insurance products has helped the bottomlines.
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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.
Insurance broker market in Asia
Neelay Patel, Managing Director & Head of Growth, Asia at Aon
Construction market insurance trends in Asia
Vincent Banton, Head of Construction & Infrastructure, Asia at Aon
Managing health portfolios in South-East Asia
Dr Kumud Bordoloi, Head of A&H at Peak ReIndustry 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.
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