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APAC insurers race to harness AI’s US$70bn promise, but data and regulatory hurdles persist
Implementing AI is a major operational and regulatory challenge for the industry, with massive rewards for the insurers that can get it right.
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Tysers Singapore appoints Prantika Sengupta as director for marine claims, client relations
She is responsible for enhancing the firm’s claims offering, working under chairman of claims Chris Sydenham to support clients across the marine portfolio.
Tysers Singapore appoints Prantika Sengupta as director for marine claims, client relations
She is responsible for enhancing the firm’s claims offering, working under chairman of claims Chris Sydenham to support clients across the marine portfolio.
She is responsible for enhancing the firm’s claims offering, working under chairman of claims Chris Sydenham to support clients across the marine portfolio.
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Sompo Life Re secures Bermuda reinsurance licence, names Tetsuya Morito CEO
Newly formed carrier has underwritten a portion of the in-force block of medical insurance held by Sompo Himawari Life Insurance through co-insurance.
Sompo Life Re secures Bermuda reinsurance licence, names Tetsuya Morito CEO
Newly formed carrier has underwritten a portion of the in-force block of medical insurance held by Sompo Himawari Life Insurance through co-insurance.
Newly formed carrier has underwritten a portion of the in-force block of medical insurance held by Sompo Himawari Life Insurance through co-insurance.
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Philippines Insurance Commission chief suspended over conflict of interest, ‘serious doubt over impartiality’
Ombudsman suspends Reynaldo Regalado for six months without pay pending the resolution of administrative cases arising from the accreditation of insurance providers under the personal passenger accident insurance program for public utility vehicles.
Philippines Insurance Commission chief suspended over conflict of interest, ‘serious doubt over impartiality’
Ombudsman suspends Reynaldo Regalado for six months without pay pending the resolution of administrative cases arising from the accreditation of insurance providers under the personal passenger accident insurance program for public utility vehicles.
Ombudsman suspends Reynaldo Regalado for six months without pay pending the resolution of administrative cases arising from the accreditation of insurance providers under the personal passenger accident insurance program for public utility vehicles.
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GAIP calls for industry action to avoid ‘insurability tipping point’
Insurance industry should adopt integrated risk intelligence, adaptive product design and invest in climate resilience to preserve insurability, the Singapore-based policy think-tank says.
GAIP calls for industry action to avoid ‘insurability tipping point’
Insurance industry should adopt integrated risk intelligence, adaptive product design and invest in climate resilience to preserve insurability, the Singapore-based policy think-tank says.
Insurance industry should adopt integrated risk intelligence, adaptive product design and invest in climate resilience to preserve insurability, the Singapore-based policy think-tank says.
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Australian broker Cowden names Charlotte Lau national head of operations
She has over two decades of experience in roles with QBE, Crawford and Sedgwick.
Australian broker Cowden names Charlotte Lau national head of operations
She has over two decades of experience in roles with QBE, Crawford and Sedgwick.
She has over two decades of experience in roles with QBE, Crawford and Sedgwick.
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Why are we waiting? Call grows louder to scrap NSW emergency services levy
New South Wales is the only state in Australia that still funds emergency services by taxing home, motor and business insurance.
Why are we waiting? Call grows louder to scrap NSW emergency services levy
New South Wales is the only state in Australia that still funds emergency services by taxing home, motor and business insurance.
New South Wales is the only state in Australia that still funds emergency services by taxing home, motor and business insurance.
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Aon taps Zurich Indonesia CUO Stephen as Indonesia CEO
He will report to Jane Drummond, chief commercial officer for Asia Pacific and interim head of Southeast Asia.
Aon taps Zurich Indonesia CUO Stephen as Indonesia CEO
He will report to Jane Drummond, chief commercial officer for Asia Pacific and interim head of Southeast Asia.
He will report to Jane Drummond, chief commercial officer for Asia Pacific and interim head of Southeast Asia.
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Ignite Specialty Risk hires Lucinda Stormont-Sainsbury to drive Australia expansion
Australia has been identified as a critical market for the specialist litigation risk MGA.
Ignite Specialty Risk hires Lucinda Stormont-Sainsbury to drive Australia expansion
Australia has been identified as a critical market for the specialist litigation risk MGA.
Australia has been identified as a critical market for the specialist litigation risk MGA.
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Steve Hutchinson ‘passes the reins’ with Bruce Tsoi named WTW’s Hong Kong head of P&C
Tsoi joins from Marsh Risk, where he spent over seven years in various risk management roles.
Steve Hutchinson ‘passes the reins’ with Bruce Tsoi named WTW’s Hong Kong head of P&C
Tsoi joins from Marsh Risk, where he spent over seven years in various risk management roles.
Tsoi joins from Marsh Risk, where he spent over seven years in various risk management roles.
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Maybank to take full control of insurer Etiqa from Ageas
Ageas agrees to sell its minority stake to its joint venture partner for US$1.2bn.
Maybank to take full control of insurer Etiqa from Ageas
Ageas agrees to sell its minority stake to its joint venture partner for US$1.2bn.
Ageas agrees to sell its minority stake to its joint venture partner for US$1.2bn.
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Gallagher Re taps Guy Carpenter veteran Luc Morement as APAC fac head
He was also previously head of Guy Carpenter’s facultative business in the region from 2008 until 2024.
Gallagher Re taps Guy Carpenter veteran Luc Morement as APAC fac head
He was also previously head of Guy Carpenter’s facultative business in the region from 2008 until 2024.
He was also previously head of Guy Carpenter’s facultative business in the region from 2008 until 2024.
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Tributes pour in for ‘one of the true giants’ after Australian insurance broking veteran killed in US car crash
Executive chairman Tim Wedlock spent 39 years with AEI Insurance Broking Group, and was also a former president and fellow of the National Insurance Brokers Association.
Tributes pour in for ‘one of the true giants’ after Australian insurance broking veteran killed in US car crash
Executive chairman Tim Wedlock spent 39 years with AEI Insurance Broking Group, and was also a former president and fellow of the National Insurance Brokers Association.
Executive chairman Tim Wedlock spent 39 years with AEI Insurance Broking Group, and was also a former president and fellow of the National Insurance Brokers Association.
Popular posts:
- Origin Energy data breach payout could top US$100m, signals tightening Australian cyber insurance market
- Gurudutt Joglekar replaces Jon Longmore as Chubb’s Malaysia head
- Tributes pour in for ‘one of the true giants’ after Australian insurance broking veteran killed in US car crash
- Indian regulator finally approves Patanjali, DS Group acquisition of Magma General Insurance
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Kumamoto earthquake ‘highly instructive’ for (re)insurance industry amid supply chain disruption fears
Industry cannot afford to overlook the operational impact of last week's 7.1-magnitude earthquake, industry insiders tell InsuranceAsia News.
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APAC’s nascent cannabis insurance market navigates a divided region as insurers face steep learning curve
Australia remains the main market in the region and is projected to exceed US$33bn by 2033, although Thailand has backtracked on recent liberalisation.
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Residential losses from Japan earthquake could top 2016 Kumamoto claims, but commercial damages contained
Loss adjusters say seismic upgrades since 2016 have limited structural and business interruption exposure for industry, but the region’s semiconductor concentration could still drive claims.
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P&I clubs face painful renewals as soaring Baltimore bridge liability costs leave some with difficult decisions to make
Cost of the MV Dali's collision with the Francis Scott Key Bridge in Baltimore in March 2024 is threatening the limits of the International Group (IG) of P&I Club’s reinsurance program and its Hydra captive.
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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Supply outstripping demand, but El Nino, Middle East headwinds could shift market: Guy Carpenter’s Tony Gallagher
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BP Marsh homes in on ‘tremendous opportunities’ in APAC insurance distribution niche
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AI rollout, war impacts to drive specialty innovation in greater China: Markel’s Chelsea Jiang
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Hong Kong’s first virtual insurer eyes Malaysia-led Southeast Asia push after hitting ‘critical’ US$100m revenue milestone
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‘Forerunners in the unforeseeable’: Knightcorp challenges the status quo in Australia’s consolidated insurance market
M&A
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Maybank to take full control of insurer Etiqa from Ageas
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Steadfast bidders reconfirm intention to proceed, extend exclusivity period
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Tokio Marine invests in carbon credit specialist Kita
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Envest-owned Epsilon Underwriting acquires marine specialist RedSky Insurance
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Specialist (re)insurance broker Texel signs cooperation agreement with Japan’s Marubeni Safenet
ESG
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Lloyd’s looks for new way to meet diversity challenge after scrapping Dive In festival after 12 years
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Swiss Re faces activist scrutiny for underwriting new LNG terminals, CEO defends ‘very robust’ ESG framework
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QBE hands Mandy Chan expanded role as head of operational power generation, ESG for Asia
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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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Insurance is critical to clean marine progress, but new fuels bring risks traditional policies do not fully cover, presenting market players an opportunity to build new models.
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Unlike acute illnesses, dementia creates a long tail of financial need and its impact extends well beyond patients.
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Tysers Singapore appoints Prantika Sengupta as director for marine claims, client relations
She is responsible for enhancing the firm’s claims offering, working under chairman of claims Chris Sydenham to support clients across the marine portfolio.
-
Australian broker Cowden names Charlotte Lau national head of operations
She has over two decades of experience in roles with QBE, Crawford and Sedgwick.
-
Aon taps Zurich Indonesia CUO Stephen as Indonesia CEO
He will report to Jane Drummond, chief commercial officer for Asia Pacific and interim head of Southeast Asia.
-
Ignite Specialty Risk hires Lucinda Stormont-Sainsbury to drive Australia expansion
Australia has been identified as a critical market for the specialist litigation risk MGA.
-
Steve Hutchinson ‘passes the reins’ with Bruce Tsoi named WTW’s Hong Kong head of P&C
Tsoi joins from Marsh Risk, where he spent over seven years in various risk management roles.
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Gallagher Re taps Guy Carpenter veteran Luc Morement as APAC fac head
He was also previously head of Guy Carpenter’s facultative business in the region from 2008 until 2024.
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Gurudutt Joglekar replaces Jon Longmore as Chubb’s Malaysia head
Longmore 'will be taking on a new role within Chubb, with details to be announced shortly'.
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Price Forbes’ Akihisa Hirata joins Howden as head of construction for Japan
He spent five months with Price Forbes as a director for their Japan practice, based in Singapore.
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Chantel Pountney joins Sompo as senior property underwriter after career break
She was formerly with US insurer Everest in Melbourne until March.
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SRG promotes Joanna Goh to Asia head of strategy and growth
She joined from Marsh in January and will now oversee its growth initiatives in Asia.
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W&I: "W&I is now being utilised with increasing frequency across a far broader range of deal sizes and geographies in the region. Coverage terms have broadened, retentions have fallen, and underwriting processes are being continually refined to become increasingly streamlined."
Keshaya Yap, Liberty Global Transaction Solutions
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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
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US$100bn cat bond market ‘in reach’ as 2026 heads for record issuance: Gallagher Re
Strong demand from investors for new perils and for risk from underrepresented regions such as Asia Pacific, according to Jason Bolding, CEO of Gallagher Securities.
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Insurance seen as ‘genuine tipping point’ for Asia’s first major carbon capture, storage hubs
Consortium identifies India, Indonesia, Malaysia, and Australia as potential storage sites across the Asia Pacific, but insurers warn projects may not secure financing without long-term risk cover.
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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.
Supply outstripping demand, but headwinds could shift market: Guy Carpenter’s Tony Gallagher
Tony Gallagher, CEO of Asia Pacific at Guy Carpenter, speaks to InsuranceAsia News about the ongoing reinsurance market softening and the forces shaping loss activity and reinsurance buying in the region.
Marine market held its nerve through ‘strange and acute’ Middle East crisis: Markel’s Chelsea Jiang
Chelsea Jiang, managing director greater China at Markel International, discusses the Lloyd’s carrier’s ambitions in the region and how the marine insurance market responded to the crisis in the Strait of Hormuz.
Risk management: "Adequate liability limits are therefore an essential component of risk management for high-hazard operations."
Marc Burban, Asian Risks Management Services