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LMA welcomes US-Iran deal, but warns of ‘long, complicated’ shipping recovery, as insurer urges caution
Lloyd’s Market Association (LMA) says certain practical steps are required, while Charlie Zheng, co-head of marine for greater China at Markel, says the threat environment will take time to normalise.
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Asia’s renewable expansion increases risk complexity as insurance shifts to strategic role: WTW
Insurance is shifting from a transactional requirement to a strategic enabler as underwriters grow more selective amid climate volatility, supply chain disruption and evolving technologies.
Asia’s renewable expansion increases risk complexity as insurance shifts to strategic role: WTW
Insurance is shifting from a transactional requirement to a strategic enabler as underwriters grow more selective amid climate volatility, supply chain disruption and evolving technologies.
Insurance is shifting from a transactional requirement to a strategic enabler as underwriters grow more selective amid climate volatility, supply chain disruption and evolving technologies.
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Crawford appoints duo as loss adjusters in Singapore
Eileen Chew and Alice Lee have over a decade of experience in roles with loss adjusters.
Crawford appoints duo as loss adjusters in Singapore
Eileen Chew and Alice Lee have over a decade of experience in roles with loss adjusters.
Eileen Chew and Alice Lee have over a decade of experience in roles with loss adjusters.
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Dana Sun joins AIG as senior commercial property underwriter
She has over 15 years of experience in Singapore and South Korea's (re)insurance industry.
Dana Sun joins AIG as senior commercial property underwriter
She has over 15 years of experience in Singapore and South Korea's (re)insurance industry.
She has over 15 years of experience in Singapore and South Korea's (re)insurance industry.
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BirdsEyeView spies Australia as ‘competitive edge’ opportunity with new wildfire model after seven-figure funding
Seasonality of bushfires in Australia is shifting due to climate change, according to founder and CEO James Rendell.
BirdsEyeView spies Australia as ‘competitive edge’ opportunity with new wildfire model after seven-figure funding
Seasonality of bushfires in Australia is shifting due to climate change, according to founder and CEO James Rendell.
Seasonality of bushfires in Australia is shifting due to climate change, according to founder and CEO James Rendell.
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Underwriters far from returning to pre-war war risk pricing even as US-Iran deal looms, brokers say
Marine war rates are likely to remain around 1% for the next week or so, with a possible drop to the 0.8%–0.6% range in the subsequent week should there be genuine and sustained signs of de-escalation.
Underwriters far from returning to pre-war war risk pricing even as US-Iran deal looms, brokers say
Marine war rates are likely to remain around 1% for the next week or so, with a possible drop to the 0.8%–0.6% range in the subsequent week should there be genuine and sustained signs of de-escalation.
Marine war rates are likely to remain around 1% for the next week or so, with a possible drop to the 0.8%–0.6% range in the subsequent week should there be genuine and sustained signs of de-escalation.
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ACCC approves Zurich-Beazley deal, finds ‘unlikely’ threat to competition
Two insurers would likely continue to face competition from multiple alternative suppliers of specialty insurance products in Australia, according to the Australian Competition and Consumer Commission (ACCC).
ACCC approves Zurich-Beazley deal, finds ‘unlikely’ threat to competition
Two insurers would likely continue to face competition from multiple alternative suppliers of specialty insurance products in Australia, according to the Australian Competition and Consumer Commission (ACCC).
Two insurers would likely continue to face competition from multiple alternative suppliers of specialty insurance products in Australia, according to the Australian Competition and Consumer Commission (ACCC).
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Brokers back fire levy review, call insurance funding model an ‘unfair burden’
Insurance Council of New Zealand chief executive Kris Faafoi also says the latest review is a timely and positive step toward ensuring the long-term sustainability of a critical public service.
Brokers back fire levy review, call insurance funding model an ‘unfair burden’
Insurance Council of New Zealand chief executive Kris Faafoi also says the latest review is a timely and positive step toward ensuring the long-term sustainability of a critical public service.
Insurance Council of New Zealand chief executive Kris Faafoi also says the latest review is a timely and positive step toward ensuring the long-term sustainability of a critical public service.
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India’s GIC Re appoints Hitesh Joshi as chairman, MD
He most recently served as interim chairman and MD, following the retirement of Ramaswamy Narayanan.
India’s GIC Re appoints Hitesh Joshi as chairman, MD
He most recently served as interim chairman and MD, following the retirement of Ramaswamy Narayanan.
He most recently served as interim chairman and MD, following the retirement of Ramaswamy Narayanan.
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Collaboration critical for insurers, brokers, risk managers to navigate rapidly evolving risks, Markel leader warns
Rohan Davies, managing director for the London market at Markel International, tells InsuranceAsia News on the sidelines of the Airmic Annual Conference that traditional insurance programs no longer reflect real-world risk.
Collaboration critical for insurers, brokers, risk managers to navigate rapidly evolving risks, Markel leader warns
Rohan Davies, managing director for the London market at Markel International, tells InsuranceAsia News on the sidelines of the Airmic Annual Conference that traditional insurance programs no longer reflect real-world risk.
Rohan Davies, managing director for the London market at Markel International, tells InsuranceAsia News on the sidelines of the Airmic Annual Conference that traditional insurance programs no longer reflect real-world risk.
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Liberty Mutual hands Defne Turkes additional global president, MD role
Singapore-based Turkes will lead strategic growth across commercial insurance for Liberty International Insurance globally as well as retail markets in Asia.
Liberty Mutual hands Defne Turkes additional global president, MD role
Singapore-based Turkes will lead strategic growth across commercial insurance for Liberty International Insurance globally as well as retail markets in Asia.
Singapore-based Turkes will lead strategic growth across commercial insurance for Liberty International Insurance globally as well as retail markets in Asia.
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Descartes Underwriting gains Lloyd’s coverholder status via new Oak Global partnership
Parametric specialist's APAC expansion will be supported by access to Lloyd’s capacity.
Descartes Underwriting gains Lloyd’s coverholder status via new Oak Global partnership
Parametric specialist's APAC expansion will be supported by access to Lloyd’s capacity.
Parametric specialist's APAC expansion will be supported by access to Lloyd’s capacity.
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India to sell up to 5% of GIC Re via share placing
Government is divesting part of its stake to comply with minimum public ownership regulations.
India to sell up to 5% of GIC Re via share placing
Government is divesting part of its stake to comply with minimum public ownership regulations.
Government is divesting part of its stake to comply with minimum public ownership regulations.
Popular posts:
- Philippines quake claims expected to escalate, testing local claims management, loss adjusters say
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- Strong demand drives ‘phenomenal’ growth of India’s new kid on the block
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Strong demand drives ‘phenomenal’ growth of India’s new kid on the block
Nascent surety market is seen as a huge opportunity for the (re)insurance industry, with conservative estimates indicating a potential expansion to nearly US$1bn by 2030.
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Asia’s protection gap remains stubbornly persistent as new exposures remain uninsured
Swiss Re Institute identifies economic growth as the main driver of rising exposure, with the protection gap broadly tracking nominal GDP growth.
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Philippines quake claims expected to escalate, testing local claims management, loss adjusters say
Region is still assessing widespread destruction after the 7.8 quake struck south of General Santos City last week, with loss adjusters warning that early loss estimates will climb as structural defects, foundation movement, hidden damage, and BI exposures emerge.
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Middle East conflict: world ‘in the foothills’ of prolonged war, insurers told
Richard Shirreff, former deputy supreme commander Europe for NATO, has told insurers to brace themselves and their clients for the Middle East conflict ‘lasting for years, not months’.
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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BirdsEyeView spies Australia as ‘competitive edge’ opportunity with new wildfire model after seven-figure funding
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Markel accelerates Asia push in bid to rebalance global book, but ‘not before we are ready’
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Cargo parametric insurer charts route to US$68bn protection gap with ‘new shiny object’
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Lockton Asia CEO targets doubling revenue by 2030, bets on specialty lines and employee benefits
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Exclusive: Victor Kuk draws up blueprint for a ‘truly global’ Peak Re
M&A
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ACCC approves Zurich-Beazley deal, finds ‘unlikely’ threat to competition
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Steadfast draws US$5.4bn takeover bid from Amwins, Dragoneer
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Steadfast receives takeover offer
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Allianz Partners to acquire nib’s Australia, New Zealand travel portfolio
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Cyber specialist Emergence acquires renewal rights to Blue Zebra’s cyber portfolio
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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Sedgwick Asia says it is ready to meet the evolving challenges of Asia’s dynamic insurance markets.
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Crawford appoints duo as loss adjusters in Singapore
Eileen Chew and Alice Lee have over a decade of experience in roles with loss adjusters.
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Dana Sun joins AIG as senior commercial property underwriter
She has over 15 years of experience in Singapore and South Korea's (re)insurance industry.
-
India’s GIC Re appoints Hitesh Joshi as chairman, MD
He most recently served as interim chairman and MD, following the retirement of Ramaswamy Narayanan.
-
Liberty Mutual hands Defne Turkes additional global president, MD role
Singapore-based Turkes will lead strategic growth across commercial insurance for Liberty International Insurance globally as well as retail markets in Asia.
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Tysers appoints William Furness-Smith as interim Singapore CEO
Permanent appointment as Babita Rai's successor is subject to approval from the Monetary Authority of Singapore.
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VIG Re names Wilfrid Goh as chief representative for APAC
Singapore-based Goh will lead the establishment of VIG Re’s presence in Singapore, effective from July 1, and will report to managing director Marc Haushofer.
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Swiss Re promotes Torben Swart to MD, head of technical & operational excellence for APAC ex-China
Hong Kong-based Swart most recently served as head of L&H reinsurance for Hong Kong and Taiwan.
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Aon gives Harry Edwards new Asia growth leader role
Singapore-based Edwards has been with Aon for more than six years.
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Munich Re Specialty promotes Philip Steinbach to head of surety underwriting for Australia
Sydney-based Steinbach was most recently a senior underwriting consultant for surety when he joined the insurer 10 months ago.
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Berkley Re’s Glen Riddell named chair of Singapore Reinsurers’ Association
Riddell, who succeeds PartnerRe's James Beedle, will be joined by Lloyd’s Asia CEO Emma Loynes as deputy chair.
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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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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.
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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.
‘We have to be robust, stable through this cycle’: Swiss Re CorSo’s Robert Hunziker
Robert Hunziker, Asia head at Swiss Re CorSo, sits down with InsuranceAsia News to discuss the progress the commercial insurer has made in the region since its reorganisation last year and its strategic priorities.
We don’t need to put a flag in every country and town: Lockton Asia’s Tony Hardy
Tony Hardy, CEO of Lockton Asia, discusses the US broker’s efforts to double its revenue in the region by 2030, and its recent deal to take majority ownership of its Malaysian joint venture.
Insurtech: "As the [AI] hype continues, so does the imperative for insurers, insurtechs and distributors to look beyond the noise to the underlying forces at play."
David Lynch, bolttech