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Full capacity: Time to believe? Sobering reality as losses soar
In the latest issue of our Full Capacity newsletter, we look at Swiss Re Corporate Solutions's exit from Hong Kong, silent AI, product recall and staggering economic losses, as well as our weekly roundup of people moves.
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Parametric insurance ‘plugs the gap’ as nat cat losses strain traditional coverage: Descartes’ Ben Qin
Head of North Asia and Australia tells InsuranceAsia News’ Between The Lines podcast that parametric insurance's speed and payout certainty offers a critical advantage over traditional claims.
Parametric insurance ‘plugs the gap’ as nat cat losses strain traditional coverage: Descartes’ Ben Qin
Head of North Asia and Australia tells InsuranceAsia News’ Between The Lines podcast that parametric insurance's speed and payout certainty offers a critical advantage over traditional claims.
Head of North Asia and Australia tells InsuranceAsia News’ Between The Lines podcast that parametric insurance's speed and payout certainty offers a critical advantage over traditional claims.
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Chinese broker Yuanbao targets US$676m US IPO valuation: report
Existing shareholders express interest in buying up to US$17 million worth of American Depositary Shares (ADSs), according to Reuters.
Chinese broker Yuanbao targets US$676m US IPO valuation: report
Existing shareholders express interest in buying up to US$17 million worth of American Depositary Shares (ADSs), according to Reuters.
Existing shareholders express interest in buying up to US$17 million worth of American Depositary Shares (ADSs), according to Reuters.
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Willis, Chubb, Gallagher: 6 APAC insurance people moves of the week
Euclid Transactional also made a personnel change over the last week.
Willis, Chubb, Gallagher: 6 APAC insurance people moves of the week
Euclid Transactional also made a personnel change over the last week.
Euclid Transactional also made a personnel change over the last week.
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4 more Russian insurers seek India’s nod to provide marine cover for crude tankers: reports
Sberbank Insurance, Ugoria, ASTK and Balance Insurance have sought approval to offer P&I coverage for tankers calling at Indian ports, according to Reuters and Bloomberg.
4 more Russian insurers seek India’s nod to provide marine cover for crude tankers: reports
Sberbank Insurance, Ugoria, ASTK and Balance Insurance have sought approval to offer P&I coverage for tankers calling at Indian ports, according to Reuters and Bloomberg.
Sberbank Insurance, Ugoria, ASTK and Balance Insurance have sought approval to offer P&I coverage for tankers calling at Indian ports, according to Reuters and Bloomberg.
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Myanmar, China earthquakes push Q1 global insured losses to second-highest on record: Aon
Losses resulted primarily from the California wildfires, with the total significantly higher than the 21st-century Q1 average of US$17bn.
Myanmar, China earthquakes push Q1 global insured losses to second-highest on record: Aon
Losses resulted primarily from the California wildfires, with the total significantly higher than the 21st-century Q1 average of US$17bn.
Losses resulted primarily from the California wildfires, with the total significantly higher than the 21st-century Q1 average of US$17bn.
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With boots on the ground in Australia, CFC eyes strong growth, upselling opportunities
Following the acquisition and rebranding of Solution Underwriting, the MGA's Australia managing director Anita Lane looks to the future and reflects on the softening commercial insurance market.
With boots on the ground in Australia, CFC eyes strong growth, upselling opportunities
Following the acquisition and rebranding of Solution Underwriting, the MGA's Australia managing director Anita Lane looks to the future and reflects on the softening commercial insurance market.
Following the acquisition and rebranding of Solution Underwriting, the MGA's Australia managing director Anita Lane looks to the future and reflects on the softening commercial insurance market.
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Pacific rates suffer largest global fall at 8% in Q1, Marsh says
Finpro pricing fell by 10%, while property and cyber declined by 9% and 8%, respectively.
Pacific rates suffer largest global fall at 8% in Q1, Marsh says
Finpro pricing fell by 10%, while property and cyber declined by 9% and 8%, respectively.
Finpro pricing fell by 10%, while property and cyber declined by 9% and 8%, respectively.
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Thai insurers’ US$600-900m Myanmar earthquake losses to be absorbed by reinsurers: S&P Global
7.7-magnitude earthquake struck Myanmar and reverberated to Bangkok in March.
Thai insurers’ US$600-900m Myanmar earthquake losses to be absorbed by reinsurers: S&P Global
7.7-magnitude earthquake struck Myanmar and reverberated to Bangkok in March.
7.7-magnitude earthquake struck Myanmar and reverberated to Bangkok in March.
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Asia insurance rates down 3% in Q1 2025, fifth straight quarter of decline: Marsh
Property rates down 3%, while casualty placements saw a 2% decline, and finpro and cyber rates fell by 8%, according to the broker's Global Insurance Market Index.
Asia insurance rates down 3% in Q1 2025, fifth straight quarter of decline: Marsh
Property rates down 3%, while casualty placements saw a 2% decline, and finpro and cyber rates fell by 8%, according to the broker's Global Insurance Market Index.
Property rates down 3%, while casualty placements saw a 2% decline, and finpro and cyber rates fell by 8%, according to the broker's Global Insurance Market Index.
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Shinkong gets rating upgrade on record results, underwriting gains: AM Best
Rating agency upgrades Taiwanese non-life insurer’s rating to a+ (excellent), while reviseing the outlook to stable.
Shinkong gets rating upgrade on record results, underwriting gains: AM Best
Rating agency upgrades Taiwanese non-life insurer’s rating to a+ (excellent), while reviseing the outlook to stable.
Rating agency upgrades Taiwanese non-life insurer’s rating to a+ (excellent), while reviseing the outlook to stable.
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IRDAI chairman race heats up as frontrunners emerge: report
Insurance Regulatory and Development Authority of India (IRDAI) post has been vacant since Debasish Panda completed his three-year term in March.
IRDAI chairman race heats up as frontrunners emerge: report
Insurance Regulatory and Development Authority of India (IRDAI) post has been vacant since Debasish Panda completed his three-year term in March.
Insurance Regulatory and Development Authority of India (IRDAI) post has been vacant since Debasish Panda completed his three-year term in March.
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China to boost insurance support for cross-border trade amid tariff tensions
Action plan outlines protection across all foreign trade scenarios for enterprises expanding overseas to protect Chinese companies' offshore assets.
China to boost insurance support for cross-border trade amid tariff tensions
Action plan outlines protection across all foreign trade scenarios for enterprises expanding overseas to protect Chinese companies' offshore assets.
Action plan outlines protection across all foreign trade scenarios for enterprises expanding overseas to protect Chinese companies' offshore assets.
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Asia port accumulation risks resurface as Trump’s trade war continues
Potential slowing down of trade between China and the US puts the region's container ports back in the spotlight.
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US$1.5bn Bybit hack offers ‘a profound wake-up call’ for nascent Asian crypto insurance market
Short-term capacity contraction and premium increases of up to 50% expected as sector is set to recalibrate.
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A month in, Australian insurers face ‘a lot of work’ adapting to FAR’s increased accountability
Financial Accountability Regime (FAR) requires insurers to map their organisations, responsibilities, and remuneration structure, while the upcoming merger control reforms aim to protect competition in the market.
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Emerging ‘silent AI’ risk on underwriters’ minds, poised to trigger finpro liability claims
As businesses increasingly integrate AI technologies, insurers face the challenge of unintentional coverage gaps, reminiscent of ‘silent cyber’.
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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With boots on the ground in Australia, CFC eyes strong growth, upselling opportunities
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‘Picky and choosy’ Asta owner Davies seeks to remain on the front foot, with Asia in its sights
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With floods high on the list of perils in Asia, modeller gets its feet wet into China and Australia
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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
M&A
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MS&AD to invest up to US$5bn to double North America profits: report
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Markel to buy P&I specialist MGA Meco
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A month in, Australian insurers face ‘a lot of work’ adapting to FAR’s increased accountability
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PSC expands in New Zealand with Sepio acquisition
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NFRA introduces updated insurance consolidation rules
ESG
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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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Aon strengthens Asia natural resources team with senior hire
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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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Fostering strong customer relationships, nurturing community well-being and championing employee development through innovative insurance solutions to shape a brighter shared future for all.
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Steve Hutchinson to join Willis as P&C head for Hong Kong, Macau after 4-month Howden stint
Hutchinson, who had joined Howden as chief broking officer in January, will take over from Phil Timms, who will transition to a new role, as IAN first reported.
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Willis elevates Trent Williams to head of broking, global construction
Melbourne-based Williams has been head of carrier management for Asia Pacific and head of broking for Pacific at the broker since April last year.
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Chubb appoints Janene Blizzard as head of APAC A&H
Blizzard, who has 30 years of insurance experience including 16 years with Chubb, will relocate from London to Singapore.
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Euclid Transactional adds tax underwriting in APAC with EY hire
M&A-focused MGA appoints Wai Ling Low as senior vice-president and tax underwriter in Singapore.
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Willis bolsters India aviation, space team
Anant Pawar joins the WTW broking business from Aon India, where he was chief broking officer.
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Gallagher India hires Sunny Goel as head of liability and growth projects
Delhi-based Goel will lead the expansion of Gallagher India's liability and reinsurance portfolio, while also establishing new specialty and niche areas.
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Exclusive: McLarens takes Integra’s Torben Bell as Australia MD
Melbourne-based Bell is currently managing director for Australia and New Zealand and executive loss adjuster for Integra.
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Exclusive: Integra regional MD Tony Chapman to join Crawford
Singapore-based Chapman will start in a newly created role as head of global technical services for Asia in May, IAN understands.
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Howden-owned MGA Dual expands New Zealand team with underwriting appointments
Lester Mathew appointed as a senior underwriter and Riaan Wolmarans as an underwriter.
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Peak Re takes China Re’s Claudia Chong as vice president
New role spans multiline treaty underwriting, contract wordings review, treaty structure solutions, data analytics and pricing.
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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.
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