Industry Segments: Climate Page 1 / 28
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- January 27 2025
As carbon capture insurance demand grows, time for London to ‘show its leadership’
Clients in APAC and beyond are turning to London's vast energy experience to leverage its capacity for managing traditional and emerging risks, market sources tell IAN.
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- January 23 2025
With Donald Trump’s ESG curveball, what’s the outlook for APAC liability coverage?
With environmental, social and governance (ESG) back in the spotlight in the first week of the new US presidency, market experts say clients are demanding liability cover amid an ever-changing regional landscape.
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- January 22 2025
APAC records nat cat insured losses at US$8bn in 2024, the lowest since 2012: Gallagher Re
Three events - China seasonal floods, Typhoon Yagi, and Japan’s Noto Peninsula Earthquake - drove 68% of economic losses, or US$88bn, in the region.
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- January 22 2025
Australia twin event losses to remain below major cat level, adjuster says
Carriers received 5,400+ claims from severe weather events on the east coast, while Cyclone Sean caused record rains and port disruptions in Western Australia.
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- January 21 2025
With US$100bn losses now the norm, rising attachment points create new dynamic for cat programs
Scale of nat cat losses needed to turn the market continues to rise as structural changes in reinsurance programs bed in across Asia Pacific.
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- January 20 2025
ARPC declares cyclone event as Cyclone Sean strengthens to category 4
Windstorm, which shut down ports in the country's iron ore exporting hub over the weekend, is expected to move away and drop below cyclone intensity by Thursday.
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- January 19 2025
Update: Eastern Australia battered by deadly storms, tennis ball-sized hail
A tropical cyclone has formed off Australia’s western coast, as eastern states deal with the fallout from damaging storms and continuing rain.
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- January 17 2025
While trade war threat looms for Asia, climate risk needs more than insurance: industry leaders
Marsh McLennan’s Carolina Klint says Asia is particularly exposed given its role in the world’s manufacture of goods.
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- January 10 2025
Building in cat-exposed areas exacerbating insurance affordability: Munich Re climate specialist
With climate change accelerating, preparations must be made for flash floods and thunderstorms, as well as events in atypical places, chief climate scientist Tobias Grimm tells IAN.
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- January 6 2025
Carbon projects a global opportunity for insurers, but grey area remains
As the market grows, particularly in Asia, insurers have been quick to step into the sector, but there is a need for greater experience.
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- December 17 2024
Energy transition needs pragmatism over good intentions, says WTW’s Au
The broker’s regional climate practice lead calls for a nuanced approach which recognises the realities of moving to net zero within realistic time frames.
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- December 10 2024
Asian carriers must expand on renewables as climate losses exceed fossil fuels GWP
Insurers should use their influence on the traditional energy sector that only contributes 2% of the total premium to protect the remaining 98% of their business, say climate activists.
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- December 6 2024
Vietnam’s Petrolimex Insurance could see volatility ahead over Yagi losses: AM Best
AM Best has affirmed an insurer rating of B++ (good) with a stable outlook to PJICO.
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- December 5 2024
New Zealand’s Southern Response to slash headcount as Canterbury earthquake claims grant nears end: reports
The roles would be reduced by at least 15 personnel to about eight or nine by June 2025 when the Crown package, which has already settled 9,019 claims or about 96% of the eligible applicants, is expected to be wound up.
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- December 5 2024
Nat cat insured losses to cross US$135bn in 2024: Swiss Re
For the fifth consecutive year, insured losses from natural catastrophes broke the US$100bn mark, Swiss Re Institute data shows.
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- December 5 2024
Australia braces for above-average rainfall in December: BOM
The impact of the storms could be catastrophic, with the risk of fallen power lines, flash flooding, damaging winds and falling trees, says Bureau of Meteorology.
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- December 3 2024
The industry has to be nimble in dealing with climate risks: Swiss Re’s Lubomir Varbanov
The key challenge and opportunity for the market is the need for multilateral development banks to adapt to evolving risks, particularly those related to climate change.
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- December 2 2024
Yagi third costliest typhoon in Asia with US$1bn insured loss: Munich Re
Early estimates of the overall losses from the typhoon season are thought to be around US$22bn, with insured losses of US$2bn, the reinsurer said.
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- November 28 2024
Typhoon Yagi losses set to reshape Vietnamese (re)insurance market
With insured losses likely to add up to a decade’s industry profit, the market could see rates and retentions increase and accelerate the shift to XoL structures.
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- November 21 2024
Emerging Asia may benefit from US tariffs as China suffers: Swiss Re’s Haegeli
Tariffs, taxes, and a decrease in trade could be a tipping point for the wider industry as there are many uncertainties around future US presidential decisions, said the reinsurer's group chief economist.
