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- Property & Casualty
- Published 25 Apr 2025
Insuring APAC’s energy transition: from grand ambitions to lingering challenges
The renewable energy sector in Asia has experienced a remarkable shift in the past few years, with wind and solar power overtaking traditional sources like hydroelectricity, while emerging technologies like offshore wind and battery energy storage systems (BESS) find wider adoption.
This report delves into the current state of renewable energy in Asia, highlighting both the opportunities and challenges it presents to the region's (re)insurers. Insights from a diverse group of experts shed light on the future trajectory of this dynamic sector:
• Rob Jones, Asia renewable energy leader at Marsh
• Guillaume Parard, head of P&C for Asia at Axa XL
• Tom Baker, head of renewable energy at Markel
• Alex Davies, director of power, downstream and renewables at Price Forbes
• Will Hiller, underwriter at GCube
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FWD to re-enter P&C with 25% stake in bolttech Hong Kong for US$21m
- October 12
The target was formerly FWD General Insurance and was divested by the Richard Li-controlled insurance group to bolttech in 2020.
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Peak Re’s GWP grew 11.8% to US$1.2bn in H1 FY26
- August 28
Reinsurer's revenue also increased year on year by 25% to US$825.7m, according to a stock exchange filing by parent company Fosun International.
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GIC Re’s FY26 underwriting loss narrows to US$224m, COR improves to 104.66%
- May 26
Carrier’s net profit for the financial year rose by 30% to top US$1bn, with GWP up at US$4.6bn.
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South Korea’s deposit insurance corporation launches re-bidding for Yebyeol Non-Life
- May 12
Only Korea Investment Holdings previously submitted a bid for the bridge insurer of troubled carrier MG Non-Life Insurance.