AON Asia Market Review 2016
February 18 2016
Last year saw continued pricing pressures across most classes and a challenging investment environment that forced underwriters to focus on improving underwriting performance.
While both insurance and reinsurance markets continue to be very competitive, there is a growing recognition that continued reduction in rates and broadening of terms and conditions is not sustainable in the medium term, particularly in the current economic environment. However, market capacity generally remains plentiful.
Another relatively benign year saw very few significant insurable losses despite some regional and global insurers sustaining large losses, such as the Tianjin China port explosion. However, this seemingly had little effect on the local Chinese market or the region as a whole. Coupled with more than adequate capacity in the region, the current competitive environment appears very sustainable.
Whether the recent El Niño effect causes any change of note during 2016 remains to be seen; and how the industry deals with fast-emerging risks continues to be a challenge for the market. Where emerging risk is concerned, the more data and analytics that can be brought to bear is of immense importance to all involved.
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QBE’s Hammond on transformation and growth
- July 2
The Asia chief executive discusses Covid-19, going digital and restructuring.
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Swiss Re: Nat cats and man-made disasters in 2018
- April 10
Climate change, increased urbanisation and a growing concentration of assets were on the risk agenda for 2018.
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Willis Towers Watson: 2019 Asia Market Report
- March 19
Economic uncertainty, more complex risks and tighter underwriting are all influencing Asia's markets.
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Peak Re: Emerging Asia’s life and health opportunity
- March 11
Life and health premium growth is expected to outpace GDP gains in eight Asian markets.
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Aon | Navigating shifts in the global and Asia insurance markets
Neelay Patel, Aon head of growth for Asia, says the market in Asia is at an ‘interesting stage of the cycle’.
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Sompo | Accelerating Sompo Group’s sustainable growth through the evolution of the P&C business
Sompo Holdings is taking significant steps to enhance its organizational structure and business strategy to achieve its ambition to become a Japan-born truly global company.
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Allianz Life | Reaching for excellence through empowering people
Fostering strong customer relationships, nurturing community well-being and championing employee development through innovative insurance solutions to shape a brighter shared future for all.
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WTW | Navigating a complex world with endless possibilities
Living with rising uncertainty from new and emerging risks can be turned into strategic opportunities for businesses.
