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- May 31 2023
Asia workers’ comp remains soft as economies readjust
As companies try to bounce back to pre-Covid times, the market is dealing with challenges such as hybrid working and an ageing workforce.
- May 30 2023
Asian carriers join net-zero exodus
With Japan’s big three calling it time, IAG, Samsung F&M and KB are the only APAC carriers left in the alliance.
- May 25 2023
Going to war on cyber wordings
As Lloyd’s war exclusions cause disquiet among insureds and reinsurers, the market is set to see a battle royale with APAC in the thick of it.
- May 24 2023
US broking giant Brown & Brown enters Asia with Kentro buy
The sixth largest global broker eyes expansion in the region through MGA Nexus and specialty broker Capstone.
- May 22 2023
Japan’s big 3 count on overseas recovery as domestic results take nat cat hit
Tokio Marine, MS&AD and Sompo expect a revival in international units to drive FY 2023 performance.
- May 18 2023
Travel cover in the fast lane with higher premiums and attachment points
The average rate increase in the past 18 months reached 15% in the Pacific, high single digits in South-East Asia and India, with similar trends expected in China and Japan.
- May 16 2023
Hannover Re questions Taiwanese cedents’ hefty Covid bill
The reinsurer says it is collecting underwriting information to assess the validity of many pandemic claims over the last few years.
- May 15 2023
Strata capital squeeze pushes Australian carriers out of the market
Those who remain are pushing 15-30% premium increases for standard risks with more difficult risks exceeding 40%, as cyclone claims and inflation take their toll.
- May 12 2023
Hannover Re sees up to 20% nat cat rate hike in Japan 1.4 renewals
APAC benefits from the discontinuation of proportional business; books US$100m of New Zealand cat losses.
- May 10 2023
Coverage gaps leave Asia vulnerable to supply chain risks
Companies in the region remain uninsured or underinsured as products for purely financial supply chain losses provide a wafer-thin patchwork of protection.
- May 8 2023
Asian D&O prices mirror global softening as capacity, competition grows
Rates may continue to moderate in the coming months but economic headwinds and regulatory changes in the region may warrant another correction.
- May 5 2023
Swiss Re Asia 1.4 renewal premiums grow 25%
The reinsurer booked US$171m in New Zealand Q1 cat losses, says "a continuation of related costs seems unlikely at the moment'.
- May 4 2023
New Zealand mulls ban on rebuilding ‘high-risk’ properties as cat claims surge
IAG deals with a record 46,000 summer claims as government spends US$400m on Cyclone Gabrielle clean-up costs.
- May 3 2023
ICA calls for regulatory planning overhaul along UK lines
The insurer body is pushing for new financial services planning and prioritisation forum modelled on the Financial Services Regulatory Initiatives Forum.
- May 2 2023
Pressure mounts on Japan to provide long-term solution for marine risks
While the dispensation for insuring imports from Russia's Sakhalin project remains in place, the future remains uncertain.
- April 28 2023
Mitsui Sumitomo facing lunar loss after ispace mission failure
The Japanese carrier provided the world’s first 'lunar insurance' cover for the risks arising from the mission.
- April 27 2023
MGAs see ‘flight to quality’ in Asia amidst market hardening
Following the 1.1 renewals, sourcing capacity is becoming harder but niche players may still have an edge.
- April 25 2023
Net-zero alliance’s existential dilemma
As Munich Re, Zurich and Hannover Re leave the NZIA, in part due to US antitrust concerns, Asian carriers have more flexibility with a lack of opposition to ESG investments in the region.
- April 19 2023
Lloyd’s eyes regional opportunities through Hong Kong
The platform's regional director Iain Ferguson identified reinsurance capacity, captives and more local placement as areas for the market to focus on.
- April 17 2023
APAC aviation renewals on course for 50% hikes
Middle and higher XOL treaty layers see steep climbs while terms and conditions are under scrutiny, especially for war risks.