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Full Capacity: Industry slings into Singapore as home stretch begins at SIRC
This week's newsletter discusses AUB's new investors, Hurricane Melissa's payout, AIG's acquisition of Everest's commercial retail portfolio rights, marine (re)insurers role in the stranded jets in Russia, Rokstone's interest in the Asian market.
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Steadfast, Aviso, MSIG, UIB: 7 APAC insurance people moves of the week
Canopius, Sompo, GIC Re, FM and Peak Re also made personnel changes over the last week.
Steadfast, Aviso, MSIG, UIB: 7 APAC insurance people moves of the week
Canopius, Sompo, GIC Re, FM and Peak Re also made personnel changes over the last week.
Canopius, Sompo, GIC Re, FM and Peak Re also made personnel changes over the last week.
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Peak Re tap Korean Re veteran Eun Jeong Lee as senior retrocession vice president
Lee relocates from Singapore to Hong Kong after spending over two years as deputy branch manager for Korean Re.
Peak Re tap Korean Re veteran Eun Jeong Lee as senior retrocession vice president
Lee relocates from Singapore to Hong Kong after spending over two years as deputy branch manager for Korean Re.
Lee relocates from Singapore to Hong Kong after spending over two years as deputy branch manager for Korean Re.
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Steadfast calls for ‘shareholders’ patience’ amid Robert Kelly probe over employee complaint
CEO and managing director will remain on full pay for the duration of the 'external investigation' having 'chosen to stand aside' on a temporary basis on the eve of Friday's AGM.
Steadfast calls for ‘shareholders’ patience’ amid Robert Kelly probe over employee complaint
CEO and managing director will remain on full pay for the duration of the 'external investigation' having 'chosen to stand aside' on a temporary basis on the eve of Friday's AGM.
CEO and managing director will remain on full pay for the duration of the 'external investigation' having 'chosen to stand aside' on a temporary basis on the eve of Friday's AGM.
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FM promotes Calvin Kuan to client service manager for Southeast Asia
Singapore-based Kuan will provide strategic leadership for FM’s underwriting and client service teams.
FM promotes Calvin Kuan to client service manager for Southeast Asia
Singapore-based Kuan will provide strategic leadership for FM’s underwriting and client service teams.
Singapore-based Kuan will provide strategic leadership for FM’s underwriting and client service teams.
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Hong Kong’s Cyberport aids Otonomi’s US$5m Series A funding round
Oversubscribed round for the New York City-headquartered blockchain-enabled parametric insurance platform was also led Hivemind Capital, Rothschild & Co Asset Management, ATX Venture Partners, and Portline Capital.
Hong Kong’s Cyberport aids Otonomi’s US$5m Series A funding round
Oversubscribed round for the New York City-headquartered blockchain-enabled parametric insurance platform was also led Hivemind Capital, Rothschild & Co Asset Management, ATX Venture Partners, and Portline Capital.
Oversubscribed round for the New York City-headquartered blockchain-enabled parametric insurance platform was also led Hivemind Capital, Rothschild & Co Asset Management, ATX Venture Partners, and Portline Capital.
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Discipline key for APAC reinsurers as premium growth normalises due to softening, economic uncertainty: S&P
Rating agency says reinsurers are likely to pursue cautious expansion strategies tailored to their risk appetite and market conditions.
Discipline key for APAC reinsurers as premium growth normalises due to softening, economic uncertainty: S&P
Rating agency says reinsurers are likely to pursue cautious expansion strategies tailored to their risk appetite and market conditions.
Rating agency says reinsurers are likely to pursue cautious expansion strategies tailored to their risk appetite and market conditions.
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Steadfast CEO Robert Kelly temporarily ‘stands aside’ amid probe into workplace complaint
Tim Mathieson, CEO of Australasian broking, has been appointed as acting chief executive officer, effective immediately.
Steadfast CEO Robert Kelly temporarily ‘stands aside’ amid probe into workplace complaint
Tim Mathieson, CEO of Australasian broking, has been appointed as acting chief executive officer, effective immediately.
Tim Mathieson, CEO of Australasian broking, has been appointed as acting chief executive officer, effective immediately.
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Sompo Asia Pacific appoints Leo Jun Liu as chief consumer officer for China
Liu, who joins from AIG, will lead Sompo China’s consumer lines strategy and operating model to drive scale, profitability and sustainable growth.
Sompo Asia Pacific appoints Leo Jun Liu as chief consumer officer for China
Liu, who joins from AIG, will lead Sompo China’s consumer lines strategy and operating model to drive scale, profitability and sustainable growth.
Liu, who joins from AIG, will lead Sompo China’s consumer lines strategy and operating model to drive scale, profitability and sustainable growth.
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Southeast Queensland hailstorm claims top 10,000 as clean up continues
IAG and Suncorp are dealing with claims and significant costs after the event struck the Brisbane region on Sunday.
Southeast Queensland hailstorm claims top 10,000 as clean up continues
IAG and Suncorp are dealing with claims and significant costs after the event struck the Brisbane region on Sunday.
IAG and Suncorp are dealing with claims and significant costs after the event struck the Brisbane region on Sunday.
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UIB Asia Reinsurance Brokers names Serene Chiam as treaty, retro director
She brings more than two decades of experience in the insurance and reinsurance sector.
UIB Asia Reinsurance Brokers names Serene Chiam as treaty, retro director
She brings more than two decades of experience in the insurance and reinsurance sector.
She brings more than two decades of experience in the insurance and reinsurance sector.
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Rokstone sets sail for marine growth in Asia amid regional expansion
Two weeks into the operation, the marine specialty MGA in Singapore has already started binding policies, managing director Rama Chandran told InsuranceAsia News' Between the Lines podcast.
Rokstone sets sail for marine growth in Asia amid regional expansion
Two weeks into the operation, the marine specialty MGA in Singapore has already started binding policies, managing director Rama Chandran told InsuranceAsia News' Between the Lines podcast.
Two weeks into the operation, the marine specialty MGA in Singapore has already started binding policies, managing director Rama Chandran told InsuranceAsia News' Between the Lines podcast.
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China empowers mainland insurers to issue sidecars in Hong Kong
NFRA notice on ILS seeks to enhance catastrophe risk management capabilities of Chinese insurers and strengthen Hong Kong's position as an international risk management hub.
China empowers mainland insurers to issue sidecars in Hong Kong
NFRA notice on ILS seeks to enhance catastrophe risk management capabilities of Chinese insurers and strengthen Hong Kong's position as an international risk management hub.
NFRA notice on ILS seeks to enhance catastrophe risk management capabilities of Chinese insurers and strengthen Hong Kong's position as an international risk management hub.
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SOS: insurers fear Net-Zero Framework delay will send decarbonisation progress off course
International Maritime Organization's framework was approved in April and was expected to be formally adopted at a special meeting in London earlier this month.
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Cargo insurers brace for distortion of established shipping patterns amid US-China trade war
Recent escalation following Chinese port fees could bring volatility, accumulation risks, political as well as contractual uncertainty and require commercial adjustments, underwriters say.
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Russian stranded assets now viewed as US$10bn market loss
The bulk of the loss is also likely to be absorbed not by the aviation war market, as originally thought, but actually by the marine market.
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Cyber insurers face ‘rising tide’ of criminal activity
Being prepared and having a playbook that's readily available is key in the face of increasing volume and sophistication of cyber attacks, risk managers say.
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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Rokstone sets sail for marine growth in Asia amid regional expansion
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Howden remains aggressive on Asia growth, with Japan, employee benefits as key priorities: Rohan Bhappu
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Markel Greater China targets double-digit growth, doubles down on marine, AI risks
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Japanese offshore wind a ‘big opportunity’ for (re)insurers: Tokio Marine
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‘We have to roll with the punches’: testing time for evolving renewable energy market, Tokio Marine GX’s Will Hiller says
M&A
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AUB Group confirms US$3.4bn takeover bid by EQT
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AUB Group in trading halt amid reports of PE bid
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Exclusive: Blackstone acquires majority stake in India’s Ace Insurance Brokers
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Allianz in pole position to buy Nib Holdings’ travel business: report
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IAG upgrades FY26 guidance following RACQ’s acquisition
ESG
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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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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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Cybersecurity is no longer just an IT concern, but a governance issue that belongs on the boardroom agenda.
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Insurance industry needs to recalibrate, invest in innovation and strengthen systems, talent and data practices.
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Peak Re tap Korean Re veteran Eun Jeong Lee as senior retrocession vice president
Lee relocates from Singapore to Hong Kong after spending over two years as deputy branch manager for Korean Re.
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FM promotes Calvin Kuan to client service manager for Southeast Asia
Singapore-based Kuan will provide strategic leadership for FM’s underwriting and client service teams.
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Steadfast CEO Robert Kelly temporarily ‘stands aside’ amid probe into workplace complaint
Tim Mathieson, CEO of Australasian broking, has been appointed as acting chief executive officer, effective immediately.
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Sompo Asia Pacific appoints Leo Jun Liu as chief consumer officer for China
Liu, who joins from AIG, will lead Sompo China’s consumer lines strategy and operating model to drive scale, profitability and sustainable growth.
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UIB Asia Reinsurance Brokers names Serene Chiam as treaty, retro director
She brings more than two decades of experience in the insurance and reinsurance sector.
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Exclusive: Lockton Australia’s Patrick Moore leaves for Aviso
Sydney-based Moore was most recently general manager for growth and client strategy at Lockton.
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Canopius names Michelle Rudd as APAC COO, expands Australian casualty team
Twin appointments in Sydney will see Rudd overseeing operational strategy and performance across the region, while Vanessa Hall joins the casualty underwriting team
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MSIG appoints Aon veteran Eric Schaap to newly created role to strengthen broker partnerships
Singapore-based Schaap has extensive expertise across broker management, risk maturity modelling, claims systems implementation, and governance-aligned analytics strategy.
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India’s GIC Re appoints Hitesh Joshi as interim chairman and managing director
The appointment, which is for three months, comes after the retirement of Ramaswamy Narayanan in September.
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UIB Asia Singapore’s CEO given expanded role to oversee Labuan operations
Francis Savari has been formally approved by the Labuan Financial Services Authority as principal officer of UIB Labuan.
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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.
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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.
Building resilience and mitigating risk in APAC's commercial property insurance market
Martin Au-Yeung, Vice President, Division Underwriting Manager at FM
Insurance broker market in Asia
Neelay Patel, Managing Director & Head of Growth, Asia at Aon
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