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Global brokers making headways in Japan’s tough insurance market
As the industry battles governance issues and scandals, the agent-dominated market is seeing a shift towards professional intermediaries with specialist skills and independent advice.
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Australia’s financial advice reform package to facilitate access to insurance: ICA
The recent changes, among them modernised best interests duty, will allow insurance customers receive advice directly from the carriers and be better informed which ICA sees as an important matter in the context of the growing protection gap.
Australia’s financial advice reform package to facilitate access to insurance: ICA
The recent changes, among them modernised best interests duty, will allow insurance customers receive advice directly from the carriers and be better informed which ICA sees as an important matter in the context of the growing protection gap.
The recent changes, among them modernised best interests duty, will allow insurance customers receive advice directly from the carriers and be better informed which ICA sees as an important matter in the context of the growing protection gap.
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Meritz Fire & Marine Insurance’s low loss ratio supports stable outlook: AM Best
The rating agency says strong earning stream will support its balance sheet strength, but real estate loan exposure requires monitoring.
Meritz Fire & Marine Insurance’s low loss ratio supports stable outlook: AM Best
The rating agency says strong earning stream will support its balance sheet strength, but real estate loan exposure requires monitoring.
The rating agency says strong earning stream will support its balance sheet strength, but real estate loan exposure requires monitoring.
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Oona buys out InLife stake in Filipino general insurance JV
The Warburg Pincus investment vehicle will acquire the outstanding 40% stake in the non-life business that it had bought from Mapfre last year.
Oona buys out InLife stake in Filipino general insurance JV
The Warburg Pincus investment vehicle will acquire the outstanding 40% stake in the non-life business that it had bought from Mapfre last year.
The Warburg Pincus investment vehicle will acquire the outstanding 40% stake in the non-life business that it had bought from Mapfre last year.
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AIG takes BHSI exec as APAC chief operating officer
Ryan Storan joins the insurer in Singapore, relocating from Dublin, where he was head of operations for the specialty (re)insurer.
AIG takes BHSI exec as APAC chief operating officer
Ryan Storan joins the insurer in Singapore, relocating from Dublin, where he was head of operations for the specialty (re)insurer.
Ryan Storan joins the insurer in Singapore, relocating from Dublin, where he was head of operations for the specialty (re)insurer.
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Singapore, Hong Kong set to see wave of insurance M&A in 2024
A Clearwater Analytics survey of insurers and insurance asset managers in the region noted that PE firms have taken an increasingly positive view on the acquisition potential of carriers in the two cities.
Singapore, Hong Kong set to see wave of insurance M&A in 2024
A Clearwater Analytics survey of insurers and insurance asset managers in the region noted that PE firms have taken an increasingly positive view on the acquisition potential of carriers in the two cities.
A Clearwater Analytics survey of insurers and insurance asset managers in the region noted that PE firms have taken an increasingly positive view on the acquisition potential of carriers in the two cities.
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China non-life premium growth ‘unlikely to accelerate’: Fitch
Underwriting results of smaller insurers to remain volatile because many of them are still in the midst of building their non-motor insurance portfolio.
China non-life premium growth ‘unlikely to accelerate’: Fitch
Underwriting results of smaller insurers to remain volatile because many of them are still in the midst of building their non-motor insurance portfolio.
Underwriting results of smaller insurers to remain volatile because many of them are still in the midst of building their non-motor insurance portfolio.
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Malaysian Re continues to tighten its underwriting term, review retrocession arrangements: Fitch
The rating agency has confirmed the reinsurer's 'A' (Strong) rating with a stable outlook, based on very strong capitalisation and earnings.
Malaysian Re continues to tighten its underwriting term, review retrocession arrangements: Fitch
The rating agency has confirmed the reinsurer's 'A' (Strong) rating with a stable outlook, based on very strong capitalisation and earnings.
The rating agency has confirmed the reinsurer's 'A' (Strong) rating with a stable outlook, based on very strong capitalisation and earnings.
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IAG general counsel Peter Horton leaves over ‘misconduct’
"Horton’s behaviour has fallen short of the expectations in IAG’s employee code of ethics and conduct", IAG chief executive Nick Hawkins said.
IAG general counsel Peter Horton leaves over ‘misconduct’
"Horton’s behaviour has fallen short of the expectations in IAG’s employee code of ethics and conduct", IAG chief executive Nick Hawkins said.
"Horton’s behaviour has fallen short of the expectations in IAG’s employee code of ethics and conduct", IAG chief executive Nick Hawkins said.
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Fire losses still burning issue for marine insurers as claims mount
Extreme weather, increase in machinery claims post-Covid, piracy, geopolitical and cyber risks are other major APAC marine market concerns.
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COP28: Insurance can’t be sole solution for climate challenges
With the just-adopted Loss and Damage Fund, the industry can play a supporting role by offering solutions like parametrics in the short term but need to look beyond insurance for the long term.
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Surge in claims volume testing APAC service capabilities
Increasing nat cat losses, rising cyber claims and inflation leave regional response infrastructure in danger of being overwhelmed, lengthening lead times significantly and driving up costs.
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International market’s appetite for Taiwan risks waning
While domestic insurance capacity has been sapped by Covid losses, foreign carriers are shying away from writing business in the market due to historically soft markets and looming political risks.
Spotlight
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TMK’s Spyropoulos: We are so much more than a property D&F specialist
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Miller treaty build-out targets APAC mid-market
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Parametrics primed for APAC’s insurance mainstream: Descartes
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Markel set to build out marine cargo, general casualty lines in Asia
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Mapfre Re will ask for corrections from clients as ‘there is no room for flexibility in Asia’
M&A
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Oona buys out InLife stake in Filipino general insurance JV
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Singapore, Hong Kong set to see wave of insurance M&A in 2024
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Rising premium will boost Japan non-life insurers’ results: Fitch
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Honan’s Fluitsma joins Marsh as brokers complete merger
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Vietnam’s relaxed foreign investment rules could bolster M&A: AM Best
ESG
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China’s financial regulator launches consultation on green insurance development
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Quarter-million Australian properties exposed to 1-in-20 year flood risk: ICA
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Over 85% of Australian carriers on track to achieve net-zero by 2050: ICA
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Rates have to catch up with losses to ease APAC’s offshore wind capacity crunch
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BESS thermal runaway risks a hurdle to APAC’s ambitious energy transition goals
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The consultant is exploring potential acquisitions in Australia and New Zealand, and expanding its footprint in South-East Asia, Korea and Japan.
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Managing these daunting risks will require a multi-stakeholder approach to risk identification, financing and mitigation.
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AIG takes BHSI exec as APAC chief operating officer
Ryan Storan joins the insurer in Singapore, relocating from Dublin, where he was head of operations for the specialty (re)insurer.
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IAG general counsel Peter Horton leaves over ‘misconduct’
"Horton’s behaviour has fallen short of the expectations in IAG’s employee code of ethics and conduct", IAG chief executive Nick Hawkins said.
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HDI Global forays into Asia’s A&H market with Lisa Leow hire
Leow will lead the A&H offering from Singapore, reporting to Graham Silton, managing director and principal officer, and Sydney-based Chris McDowell, underwriting manager, accident & health Australasia.
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Pop Holdings adds Nicole Coleby as managing partner in Melbourne
In this newly created role, Coleby will be in charge of operations and managing teams at Fusion Specialty and io.insure, reporting to Pop's co-founders Killian McDermott and David Rogers.
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Azure Risk hires Mai Nguyen as senior manager, marine broker
Hong Kong-based Nguyen will report to Anmol Sawlani, chief executive, and support renewals and new business development.
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WTW takes Aon’s Ellen Fung to lead large accounts for Hong Kong and Macau
In her new role, Hong Kong-based Fung will work closely with the broker's regional team on large accounts market strategy and client development.
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Samsung insurance arms set for new CEOs in groupwide leadership reshuffle: report
The non-life CEO Hong Won Hak is set to take charge at the life arm, while vice president Lee Moon Hwa will move up at Samsung Fire & Marine.
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Honan’s Fluitsma joins Marsh as brokers complete merger
Andrew Fluitsma will take charge as Marsh’s Pacific head of corporate and commercial.
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Everest appoints Godfrey Seet as Asia head of short-tail claims
Seet has relocated to Singapore from Hong Kong, where he was most recently senior vice president, claims at Peak Re.
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Aon grows Japan transaction solutions team with Shunsuke Takechi
Takechi joins as an associate director and will be attached to the Singapore-based Aon business led by Xianwei Lee.
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Reinsurance carriers need to demonstrate they can provide capital, especially for property cat
Low capitalisation of insurers in APAC and regulatory pressure in certain markets is pushing demand, says Sompo International’s Pierre Balthazard.
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SIRC: Five key themes from the 2023 edition
With the region's biggest reinsurance gathering behind us, we bring you the big takeaways from last week's Singapore event and what they mean for the upcoming renewals.
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Climate risks are key threat for the industry: SIRC panel
Reinsurers, insurers and brokers need to help clients monitor and adapt as the climate in APAC changes fast and losses add up
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South-East Asian non-property lines ripe for substantive growth
Peak Re’s South and South-East Asia director, Jasmine Miow, on growing specialty and casualty opportunities in the region
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Korea sees more demand for global reinsurance capacity as markets harden
Ramon Korea president Kwi Young Maeng discusses emerging trends in the Korean insurance market
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IUA’s Matcham: Singapore on cusp of digital transformation
The city is now considered a global hub having cornered a share of London-bound businesses, Japanese renewals and a fast growing marine business, says Dave Matcham
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Cedents will have no trouble securing capacity in 1.1, says Malaysian Re CEO
Ahmad Noor Azhari Abdul Manaf, president & chief executive, offers insights into renewals in the region
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Stricter terms make cedents move from pro rata treaty to gross XL while renewals to be more ‘orderly’: Aspen Re
The move away from pro rata means cedents can benefit from a good underwriting year, says Aspen Re’s Tay Boon Chuan
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SIRC: Asia’s PV and terrorism market faces second overhaul at 1.1 renewals
Reinsurance prices are going up and attachment points are changing, says Axa XL's Mark Houghton, with demand coming from banks, export credit agencies and government multilateral initiatives.
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Changing risk landscape demands contractual solutions
Deutsche Rück’s Tarik Aouad says terms and conditions are improving to align interests of cedents and reinsurers
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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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Fine art: An asset unlike any other
Sylvie Gleises, AXA XL
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Six tech trends shaping the market in 2023
David Lynch, bolttech
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Australia’s GI brokers saw 11.4% increase in H1 GWP
The broking sector, which continues its consolidation trend, controlled US$11.9bn of premiums, according to APRA data.
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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.
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Singapore and Hong Kong see underwriting profit, GWP bounce back
While faster premium growth saw the Lion City extend its lead over the regional rival, the SAR insurers' underwriting profits more than doubled in 2022.
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Underwriting gains spur Australian carriers stung by investment losses
Rate increases helped non-life underwriting profit grow 69.4% in 2022 despite higher claims.
Nat cat risk mitigation in the APAC reinsurance market
Iain Reynolds, Director, Head of Catastrophe Analytics and Research, Peak Re
How Japanese non-lifers are coping with more frequent nat cat risk
Teruki Morinaga, Director, Insurance, Fitch Ratings Japan
Emerging trends in a post-pandemic world
Andy Tsui, Allied WorldIndustry 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.
Cyber: “Despite the pressure on budgets cybersecurity leaders are best served by demonstrating the ‘buy down’ in cyber risk to their CFOs.”
Jeremy Pizzala, EY