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Exclusive: Owen Belman set to leave Aon in June
The Singapore-based exec has been Asia CEO since January 2020 and has previously led the broker's Greater China and North Asia operations.
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Envest Group acquires Wellington Underwriting
The specialty liability underwriting agency currently places more than US$20m in gross written premiums.
The specialty liability underwriting agency currently places more than US$20m in gross written premiums.
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Sedgwick promotes Andre Mataia to Australia head of construction
He was most recently the leader of the loss adjuster's major and complex loss property team for Victoria and Tasmania.
He was most recently the leader of the loss adjuster's major and complex loss property team for Victoria and Tasmania.
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Asian carriers embrace insurtechs despite global slowdown
In recent deals, Peak Re teamed up with CyberCube, Zurich partnered Surer, Echo Re joined hands with Adept in APAC and Singapore's GIA expanded its use of Shift Technologies.
In recent deals, Peak Re teamed up with CyberCube, Zurich partnered Surer, Echo Re joined hands with Adept in APAC and Singapore's GIA expanded its use of Shift Technologies.
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Indian property cover rates to go up as carriers start claim-based pricing: report
The revision follows an IRDAI directive that rates published by the insurance information bureau need not be treated as a minimum rate.
The revision follows an IRDAI directive that rates published by the insurance information bureau need not be treated as a minimum rate.
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Industry losses from Nanmadol revised to US$1bn: Perils
The third estimate by the loss data specialist covers property losses sustained by Japanese non-life insurers from the typhoon last year.
The third estimate by the loss data specialist covers property losses sustained by Japanese non-life insurers from the typhoon last year.
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Korean Re 2022 COR flat at 100.4%, gross premiums grow 16%
The carrier's GWP climbed to US$7.4bn, but its net profit fell 1.5% to US$133.5m.
The carrier's GWP climbed to US$7.4bn, but its net profit fell 1.5% to US$133.5m.
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Everest Insurance appoints Diane Chong as senior underwriter
Singapore-based Chong specialises in downstream energy, power and construction underwriting.
Singapore-based Chong specialises in downstream energy, power and construction underwriting.
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UBS takeover of Credit Suisse to have ‘minimal’ impact on Hong Kong market: HKIA
As share prices fall, the regulator said that insurers in the SAR seldom place deposits with Credit Suisse, or hold bonds and derivatives issued by the bank.
As share prices fall, the regulator said that insurers in the SAR seldom place deposits with Credit Suisse, or hold bonds and derivatives issued by the bank.
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Zurich prioritises India as it charts out APAC expansion
The Swiss insurer's M&A strategy in Asia is less about "planting flags" and is focused on driving profitable growth, says regional M&A head.
The Swiss insurer's M&A strategy in Asia is less about "planting flags" and is focused on driving profitable growth, says regional M&A head.
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Carriers brace for property claims as bushfires spread across Australia
A heatwave has sparked dozens of fires that have impacted multiple properties across WA, SA and NSW with claims inevitable.
A heatwave has sparked dozens of fires that have impacted multiple properties across WA, SA and NSW with claims inevitable.
Regulatory challenges and opportunities for insurers in 2023
Erik Bleekrode, KPMG-
Exclusive: Hankook Tire fire losses may reach liability limit of US$230m
While KB Insurance has a 40% exposure to the risk pool, Samsung, Hyundai and DB Insurance have 20% each, IAN can reveal.
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Claims pile up from Malaysia flood losses as unseasonal rains continue
Loss adjusters have seen hundreds of claims, while agriculture damage already exceeds the overall losses in the state of Johor for 2022.
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Asian insurers lag global peers as IFRS 17 kicks in
With traditional accounting measures such as GWP and NWP being phased out, there are numerous reporting challenges to overcome.
Spotlight
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Zurich prioritises India as it charts out APAC expansion
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Howden to ‘consider strategic acquisition opportunities’ in Asia: Chye Huat
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Chubb’s Greenberg: Asia growth will outpace rest of company
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Allianz seeks to grow Asian P&C mid-market presence
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Generali’s Rob Leonardi eyes leading market position in Malaysia
ESG
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Blue Marble to pilot extreme heat parametric cover in India
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Ping An floats first-ever ocean carbon sink insurance
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Aon implements OED standard for property reinsurance risk modelling
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Net-zero alliance goes soft on emerging markets
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First net-zero protocol faces backlash for ‘lack of ambition’ and ‘greenwashing’
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Digital transformation is at the heart of bridging protection gap and removing bottlenecks for farm cover in China and India.
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Underwriter Victoria Soo and Senior Risk Analyst Daryl Soh on how credit insurance helps finance infrastructure projects and other ESG investments.
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Sedgwick promotes Andre Mataia to Australia head of construction
He was most recently the leader of the loss adjuster's major and complex loss property team for Victoria and Tasmania.
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Exclusive: Owen Belman set to leave Aon in June
The Singapore-based exec has been Asia CEO since January 2020 and has previously led the broker's Greater China and North Asia operations.
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Everest Insurance appoints Diane Chong as senior underwriter
Singapore-based Chong specialises in downstream energy, power and construction underwriting.
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Axa XL strengthens Asia marine team with two senior level promotions
The insurer has named Itono Hakim as head of marine hull and aviation and Woei Chi Tan as hull practice leader for the region.
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QBE elevates Andex Fung to head of Asia SME
Fung was most recently QBE's head of retail and SME underwriting for Hong Kong.
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Marsh McLennan appoints North Asia, South-East Asia CEOs and 11 country heads in Asia
In a wholesale leadership overhaul in the region, the group has new chief executives in Japan, China, Korea, Hong Kong, Singapore, Taiwan, Malaysia, Indonesia, Thailand, the Philippines and Vietnam.
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Sedgwick names Kate Johnstone head of risk in Australia
Johnstone has over 25 years of insurance experience including managing risk and compliance operations.
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Markel hires downstream energy underwriter from Scor in Singapore
JJ Wong has become one of five downstream underwriters at the global player.
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TravelCard appoints Michael Storozhev as chief underwriting officer
Sydney-based Storozhev will be part of the Australia executive leadership team, reporting to the regional CEO Peter Klemt.
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Michael Di Veroli named head of newly formed Epsilon specialty division
The experienced market exec will work across property, parametric, construction and liability product classes.
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Six tech trends shaping the market in 2023
David Lynch, bolttech
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Confronting inflation to avoid playing catch up at renewals
Mark Senkevics, Swiss Re
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Tracking Asia’s volatile marine market
Jonathan Holmes, AXA XL
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Loss adjusting 2.0 – what does the future hold for this venerable profession?
Chris Panes, McLarens
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Cautious Asian business leaders worry about business risks and aspire to greater resilience
Lucien Mounier, Head of Asia Pacific, Beazley
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An alternative way to weather the hard market
Jonathan Rake, Swiss Re Corporate Solutions
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Asian aviation – gearing up for recovery
Andy Pickford, McLarens
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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.
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Asian economic, BI and cyber worries on the rise in 2023
Higher-than-expected inflation and financial market volatility are among the biggest concerns for insureds in the region.
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India’s gaping nat cat protection gap offers scope for carriers
Though it is set to be sixth largest P&C market by 2032, 95% of the country's catastrophe losses were uninsured.
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APAC to drive non-life GWP growth and profitability until 2024
East Asia will perform particularly well despite worsening macroeconomic challenges, says Swiss Re economist.
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APAC nat cat damage 43% below average for H1
Flooding in Australia/China and an earthquake in Japan accounted for nearly half of these losses.
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Asian cat losses up 145% since 2017
Models show that (re)insurers should expect even higher losses as exposures rise, according to data provider Verisk.
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Asia marine premium growth offset by higher claims
Vessel activity returns to pre-Covid levels, rates flatten and inflation pushes up cost of repairs.
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Asia P&C claims continue to outpace price rises
Competition and lack of affordability mean insurers may pass just 80% of claims' inflation to clients, says Fitch.
Regulatory challenges and opportunities for insurers in 2023
Erik Bleekrode, KPMG
Making actuarial outsourcing work
Shamit Gupta, Milliman
Asia's evolving insurance landscape
Gilles Fromageot, AXA XLIndustry 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.
Fine art: An asset unlike any other
Sylvie Gleises, AXA XL