SIRC: HDI Global focuses on building out Southeast Asia energy hub
November 6 2025 by Aidan Gregory
HDI Global continues to focus on the buildout of its energy hub in Southeast Asia amid a volatile geopolitical backdrop and the ever present threat of natural catastrophe risks in the region.
In an interview with InsuranceAsia News, Alex Tarantino, managing director and principal officer at HDI Global SE Singapore, outlined the insurer’s top priorities for growth in the region heading into 2026.
“What we know for sure is there will be continued volatility, which we are used to managing,” said Alex Tarantino, managing director and principal officer at HDI Global SE Singapore. “I continue to forecast growth of our energy hub as we expand our proposition with the launch of upstream energy next year. This will complement our existing power capabilities, as well as our mid and downstream offerings.”
According to Tarentino, Malaysia, Thailand and Indonesia are three key markets that continue to be of “significant interest” to HDI heading into 2026.
“When it comes to specific countries, Malaysia, Thailand, and Indonesia are of significant interest to us,” said Tarantino. “We have a tier 2 Labuan license in Malaysia, which we will continue to utilise, and we’re closely tracking GDP growth in Thailand and Indonesia, where we see strong potential.”
Launched in 2024, HDI’s Singaporean energy hub offers clients coverage across the energy value chain, including downstream and renewables, and is designed to help clients navigate the energy transition by providing brokers and clients with a single point of contact for all their energy needs, according to HDI.
“Across Southeast Asia, we are seeing huge investments into renewable energy and are bolstering and expanding our energy hub,” said Tarantino. “It is one of our fastest growing areas, especially in construction and operations. We expect continued growth as the region advances and progresses on its energy transition needs.”
From its Singapore hub, HDI also plans to double down on its property and marine underwriting in the region.
“You cannot ignore the current opportunities in Singapore’s marine sector at the moment.”
Alex Tarantino, HDI Global
“As a global insurer—particularly looking at Singapore’s reinsurance and wholesale markets—we see plenty of opportunities for growth in our property line outside of energy,” said Tarantino. “We are a leading global insurer for international programmes, and across Southeast Asia, we’re seeing a wave of consolidation across such programmes. Historically, large Asian conglomerates have managed fragmented global programmes, but that’s now changing.”
“You cannot ignore the current opportunities in Singapore’s marine sector at the moment,” added Tarantino.
Southeast Asia has been fortunate in 2025 with natural catastrophe losses remaining relatively benign, except for the Myanmar-Bangkok earthquake in March, which caused large amounts of insured damage in the Thai capital.
Insured losses from the recent typhoons such as Typhoon Ragasa, which struck Taiwan, the Philippines, Hong Kong, and Vietnam in September, have been light.
“Everything is trending as expected,” said Tarantino. “The question is how we continue to underwrite amidst the volatility. The conversation is steering towards the tools and technologies available to underwriters today. Take AI, for example: it’s enabling us as underwriters to make smarter, quicker decisions, particularly when it comes to natural catastrophe accumulation.”
In its 2024 financial year, HDI made global insurance revenues of EUR10 billion, up 10% from the previous year, with the Singaporean branch making a significant contribution to this growth, according to the insurer.
HDI made Ebit of EUR702 million in 2024, with a combined ratio of 90%.
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