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ICA renews calls for climate resilience funding on Cyclone Alfred anniversary
The regulator is urging sweeping federal budget measures to deliver a significant uplift in climate adaptation funding.
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War risk insurers cancel covers, raise prices for ships in Gulf and Strait of Hormuz: report
Insurance rates could rise by as much as 50% following Iran's retaliatory stirkes against US-Israel, meanwhile, cargo war-risk insurers are also preparing to issue cancellation notices on Monday.
War risk insurers cancel covers, raise prices for ships in Gulf and Strait of Hormuz: report
Insurance rates could rise by as much as 50% following Iran's retaliatory stirkes against US-Israel, meanwhile, cargo war-risk insurers are also preparing to issue cancellation notices on Monday.
Insurance rates could rise by as much as 50% following Iran's retaliatory stirkes against US-Israel, meanwhile, cargo war-risk insurers are also preparing to issue cancellation notices on Monday.
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ICICI Lombard rating outlook revised to positive on strong balance sheet fundamentals: AM Best
Indian insurer’s balance sheet strength is expected to continue improving over the near to medium term, supported by robust capital generation and sound capital management, the rating agency said.
ICICI Lombard rating outlook revised to positive on strong balance sheet fundamentals: AM Best
Indian insurer’s balance sheet strength is expected to continue improving over the near to medium term, supported by robust capital generation and sound capital management, the rating agency said.
Indian insurer’s balance sheet strength is expected to continue improving over the near to medium term, supported by robust capital generation and sound capital management, the rating agency said.
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Full Capacity: Gift City gold rush
This week's newsletter discusses an IAN exclusive, Gallagher Re's leadership change, Partner Re's Gift City entry, Hong Kong's ILS scheme, Steadfast's passing of the baton and the rush of entries into Gift City.
Full Capacity: Gift City gold rush
This week's newsletter discusses an IAN exclusive, Gallagher Re's leadership change, Partner Re's Gift City entry, Hong Kong's ILS scheme, Steadfast's passing of the baton and the rush of entries into Gift City.
This week's newsletter discusses an IAN exclusive, Gallagher Re's leadership change, Partner Re's Gift City entry, Hong Kong's ILS scheme, Steadfast's passing of the baton and the rush of entries into Gift City.
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Swiss Re P&C unit’s FY25 net income up 126% to US$2.7bn; cuts Asia book by 4% at 1.1
Reinsurer’s COR was 79.4%, with net income at a record high of US$4.8bn.
Swiss Re P&C unit’s FY25 net income up 126% to US$2.7bn; cuts Asia book by 4% at 1.1
Reinsurer’s COR was 79.4%, with net income at a record high of US$4.8bn.
Reinsurer’s COR was 79.4%, with net income at a record high of US$4.8bn.
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Gallagher Re, Liberty Mutual, Steadfast, Everest, Marsh: 19 APAC insurance people moves of the week
Howden, QBE, WTW, Axa XL, JB Boda, Zurich Cover‑More, Aon, HDI Global, IAG, Britannia Group, Ansvar Insurance, LM Re, Lockton, Allied World, Gallagher and Singapore Reinsurers’ Association also made personnel changes over the last week.
Gallagher Re, Liberty Mutual, Steadfast, Everest, Marsh: 19 APAC insurance people moves of the week
Howden, QBE, WTW, Axa XL, JB Boda, Zurich Cover‑More, Aon, HDI Global, IAG, Britannia Group, Ansvar Insurance, LM Re, Lockton, Allied World, Gallagher and Singapore Reinsurers’ Association also made personnel changes over the last week.
Howden, QBE, WTW, Axa XL, JB Boda, Zurich Cover‑More, Aon, HDI Global, IAG, Britannia Group, Ansvar Insurance, LM Re, Lockton, Allied World, Gallagher and Singapore Reinsurers’ Association also made personnel changes over the last week.
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Australian insurers facing elevated US$2.1bn bill from late-November storms: Perils
Compares to an initial loss estimate of AU$2.6 billion by in January following the severe convective storms which hit Queensland and New South Wales.
Australian insurers facing elevated US$2.1bn bill from late-November storms: Perils
Compares to an initial loss estimate of AU$2.6 billion by in January following the severe convective storms which hit Queensland and New South Wales.
Compares to an initial loss estimate of AU$2.6 billion by in January following the severe convective storms which hit Queensland and New South Wales.
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Exclusive: AIG’s Cynthia Sze to lead Liberty’s unified Hong Kong unit
Current CEO of AIG Hong Kong and Macau will join Liberty as chief executive from May.
Exclusive: AIG’s Cynthia Sze to lead Liberty’s unified Hong Kong unit
Current CEO of AIG Hong Kong and Macau will join Liberty as chief executive from May.
Current CEO of AIG Hong Kong and Macau will join Liberty as chief executive from May.
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Blue Marble completes ‘record-setting’ parametric payout to Indonesian smallholder farmers
Devastating floods in Aceh trigger US$143,000 payout to all 2,719 farmers enrolled in the program.
Blue Marble completes ‘record-setting’ parametric payout to Indonesian smallholder farmers
Devastating floods in Aceh trigger US$143,000 payout to all 2,719 farmers enrolled in the program.
Devastating floods in Aceh trigger US$143,000 payout to all 2,719 farmers enrolled in the program.
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Australia’s financial watchdog sues Auto & General over ‘misleading’ discount ads
Australian Securities and Investment Commission says around 39,000 customers were affected between March 2020 and July 2024, with Auto & General Services having already refunded US$2.7m.
Australia’s financial watchdog sues Auto & General over ‘misleading’ discount ads
Australian Securities and Investment Commission says around 39,000 customers were affected between March 2020 and July 2024, with Auto & General Services having already refunded US$2.7m.
Australian Securities and Investment Commission says around 39,000 customers were affected between March 2020 and July 2024, with Auto & General Services having already refunded US$2.7m.
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Allied World promotes Camela Santos to property vice president
Sydney-based Santos has been with Allied World in Australia and Singapore for over five years.
Allied World promotes Camela Santos to property vice president
Sydney-based Santos has been with Allied World in Australia and Singapore for over five years.
Sydney-based Santos has been with Allied World in Australia and Singapore for over five years.
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Opinion: Australia’s approach to terrorism risk – wilfully perverse?
Australian Reinsurance Pool Corporation purchased a reduced retrocession limit of US$1.48bn with an increased deductible of US$356m for its terrorism retrocession program despite the soft market.
Opinion: Australia’s approach to terrorism risk – wilfully perverse?
Australian Reinsurance Pool Corporation purchased a reduced retrocession limit of US$1.48bn with an increased deductible of US$356m for its terrorism retrocession program despite the soft market.
Australian Reinsurance Pool Corporation purchased a reduced retrocession limit of US$1.48bn with an increased deductible of US$356m for its terrorism retrocession program despite the soft market.
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PartnerRe receives licence for India’s Gift City
Asia CEO James Beedle will have executive oversight of the new branch.
PartnerRe receives licence for India’s Gift City
Asia CEO James Beedle will have executive oversight of the new branch.
Asia CEO James Beedle will have executive oversight of the new branch.
Popular posts:
- AIG’s Cynthia Sze to lead Liberty’s unified Hong Kong unit
- Gallagher Re shuffles APAC leadership, with Roshan Perera and Richard Jones succeeding Mark O’Brien and Mark Morley
- War risk insurers cancel covers, raise prices for ships in Gulf and Strait of Hormuz: report
- Asia’s cyber insurance market set for rapid growth after wake-up call, CyberCube says
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Cat’s well and truly out of the bag: Asia’s ILS market set for ‘active’ 2026
Other jurisdictions may follow Hong Kong and Singapore in establishing their own ILS regimes after a record-breaking year for catastrophe bond issuance globally last year.
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P&I clubs drop anchor on rate increases amid strong retentions
Gard, West P&I, The Swedish Club, NorthStandard, and Skuld reflect on the 2026 protection and indemnity (P&I) renewals season.
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The ultimate safety net: high risk confusion creating piracy cover concerns, CFC’s Alexander Beaton says
Incidents reported on vessels rose from 117 in 2024 to 137 in the 12 months to December, with the Singapore Strait reporting the highest number at 80.
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Asia’s cyber insurance market set for rapid growth after wake-up call, CyberCube says
Recent attacks on the likes of Asahi and Coupang has highlighted the significant protection gap in the region, director of cyber risk consulting Jon Choi tells InsuranceAsia News.
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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Cyber on the mind for ‘next few years’ as Asian ransomware attacks more than double as digitalisation outpaces defences
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Chubb’s Evan Greenberg ‘bullish on long-term opportunity’ for Asia
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‘Hopeless’: observation-based models fall short as insurers comprehend modern flood risks
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Home, sweet home for Vietnam’s new reinsurer as AlphaRe eyes efficiency over top line
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Bridging Asia’s protection gap key focus for Verisk, but data issue remains
M&A
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Sompo completes US$3.5bn Aspen acquisition
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Marsh weighs sale of broker for high-net-worth individuals in Asia: report
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Sompo receives regulatory approvals for US$3.5bn Aspen acquisition
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Ardonagh-backed Cornerstone Risk acquires Australia’s Umbrella Insurance Services
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Ardonagh takes majority stake in Hong Kong’s Risk Management Insurance Brokerage
ESG
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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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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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Vastly improving turnaround times and personalising service delivery, QBE Asia’s award-winning, end-to-end bundled claims solutions is a game-changer for the insurance industry.
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Exclusive: AIG’s Cynthia Sze to lead Liberty’s unified Hong Kong unit
Current CEO of AIG Hong Kong and Macau will join Liberty as chief executive from May.
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Allied World promotes Camela Santos to property vice president
Sydney-based Santos has been with Allied World in Australia and Singapore for over five years.
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Gallagher Re shuffles APAC leadership, with Roshan Perera and Richard Jones succeeding Mark O’Brien and Mark Morley
Perera replaces O’Brien as APAC head, with Jones taking over as regional chairman from the retiring Morley.
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Liberty Mutual Reinsurance names John Nicholls as ANZ casualty underwriting manager
He joins from Liberty Speciality Markets' Sydney team, in an internal move as part of the larger Liberty Mutual Group.
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WTW elevates Han Wei Fong to Singapore country head
He will retain his existing responsibilities as head of health and benefits in Singapore.
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Haris Michaels to lead HDI Global’s Southeast Asia energy business
He will step into the role following Mark Mackay's promotion to global head of energy and power.
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Gallagher Australia confirms Marsh veteran Alex Lumby as CEO
He succeeds Sarah Lyons, who has relocated to the UK as the CEO of the broker’s London-based specialty division.
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Allied World promotes Ben Schindler to assistant vice president
He is based in Sydney and has been with Allied World for more than five years.
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Zurich Cover‑More boost Asia team with double promotion
Jon Ford named head of Asia, with Tricia Lim appointed head of commercial operations and delivery in the region.
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Marsh appoints ex-Steadfast executive Noelene Palmer as Pacific COO
Sydney-based Palmer left the Australian broker in November after her role was made redundant.
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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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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.
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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.
1.1 renewals takeaways and 2026 market outlook with Gallagher Re’s Mark O’Brien
Mark O'Brien, head of Asia Pacific at Gallagher Re, talks to InsuranceAsia News about the 1.1 renewals and the outlook for the market in 2026.
Cyber insurance has a long way to go amid soaring demand in Asia: WTW’s Carlos Grijalva
Carlos Grijalva, cyber leader for Hong Kong and greater China at WTW, talks to InsuranceAsia News about the development of the cyber market in Asia.
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