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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Allianz General | Allianz General combines innovative protection solutions while powering social good to lead Malaysian market
The insurer proactively addresses emerging risks and evolving customer protection needs while giving back to the community.
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Sedgwick | Asia’s Energy Transformation – Balancing Growth, Risk and Renewables
Energy market presents unique risks, especially in a region which includes China and Japan as well as developing nations like Vietnam and the Philippines.
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Beazley | Turbulent Waters: the maritime energy transition challenge
Businesses are facing a complex transition to non-carbon energy sources amid a push to achieve net-zero emissions for the marine sector by 2050.
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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’.
