Analysis Page 4 / 68
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- August 19 2024
Billion-dollar losses from hail and wildfire put pressure on East Asian carriers
With Japan's Hyogo hail-related insured losses pegged at US$1bn and economic losses from Siberian wildfires estimated at US$84bn, regional underwriters are forced to reassess their exposures to secondary perils.
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- August 15 2024
‘Impact insurers’ run into capacity, distribution hurdles in Asia
Public partnerships, people-centric design and tech solutions are needed for parametrics to be a part of the region’s relief capital mix and to close the protection gap.
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- August 12 2024
Robust regulations key to insuring next-gen aviation systems
Insurers are gearing up for the dawn of a new era for aviation with advanced air mobility solutions but it necessitates updates to policy wordings, development of unique programs and adapting to changing regulatory environments.
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- August 8 2024
Cyber wordings, limits set to tighten as CrowdStrike points to ambiguity in cover
The industry needs to address accumulation risks, data gaps and further threats from large-scale events that are becoming more frequent.
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- August 6 2024
Insurers urge BI planning as Asian shippers buckle under supply chain pressure
Cascading impacts of geopolitical conflicts, extreme weather events and the Baltimore bridge collapse are testing the resilience of supply chains, with carriers warning of significant impact on the risks they cover.
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- August 5 2024
Typhoon Gaemi losses to weigh on Taiwan, Philippines reinsurance market
While China losses are the most significant out of all three markets, the local reinsurance market is unlikely to be affected as agricultural sector is covered by the government.
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- August 2 2024
DDoS attacks expose Asia’s healthcare sector cyber defence loopholes: CyberCube
Cyberattacks are forecast to increase across APAC with India, China and Taiwan most targeted, with the recent attack on a Singaporean health tech firm showing that the country is increasingly under threat, according to CyberCube.
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- August 1 2024
MSIG Hong Kong bucks market trend with lower claims payout in stormy 2023
Claims settlement ratio for the general insurer also improved for the fourth straight year to 93.2%, as healthcare claims returned and property, motor-related claims climbed due to extreme weather events in September, said CEO Philip Kent.
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- July 31 2024
Cyber market is in need of more buyers, says QBE’s Serene Davis
The market is at an inflection point amid predictions that it will undergo significant growth as the world recovers from the CrowdStrike outage, but underwriters will have to look at new countries and clients to hit those projections.
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- July 30 2024
Asian renewables underwriting witnessing ‘positive shift’ in expertise and capacity
With more large-scale projects now “fully placed” in the region, the market needs to address regulatory and financing hurdles for local underwriting to flourish.
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- July 29 2024
Space insurance struggles amid billion-dollar+ claims, scarce premium pool
While the market has seen a doubling of rates recently, shrinking underwriting capacity and technology changes add further challenges to the industry reeling from recent large losses.
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- July 25 2024
Chubb delivers on Asia promise with impressive Q2 top-line growth
Greenberg highlights accident & health and travel insurance as strong perfomers in the region, which was the fastest growing globally with 33% net premium increase in the second quarter.
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- July 24 2024
London seeks to offer specialist capacity for ‘high-risk exposed’ Asia renewables
(Re)insurers are ready to step in to provide expertise for renewables in emerging regional economies as some of the capacity currently on offer is "naive".
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- July 23 2024
Hong Kong captive growth stalls as Singapore, Labuan pull away
With recent rule changes still being digested by the wider market, the SAR’s ambitions to grow as a regional centre for captive management are not yet bearing fruit.
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- July 22 2024
BI claims in focus as carriers assess losses amid global tech outage
The event could impact other lines beyond cyber including tech errors and omissions, D&O, and insurers may see liability and supply chain disruption claims.
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- July 19 2024
South Korea’s ‘heaviest-in-200-years’ rain to lead to motor, crop losses
The event is likely to see reinsurers introduce coverage limits for parking lots and trigger pay-outs from the government’s agricultural and fishery disaster reinsurance program.
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- July 18 2024
Market dynamics positive despite geopolitical, climate risks headwinds
Severe weather events, projected to rise by 5-7% every year, geopolitical unrest, and supply chain disruption are the main systemic perils that put pressure on the insurers, according to SwissRe Corso CUO Kera McDonald.
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- July 16 2024
Korea’s lithium fire sparks calls for global safety standards
Underwriting guidelines must consider various factors to price battery risks, including the quality of manufacture, testing and certification, and the separation and containment of units, especially in light of the Aricell factory fire.
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- July 15 2024
Trade credit insurers expect ‘harder’ market as insolvencies return to pre-Covid highs
A 'buyer’s market' prevails as claims have yet to exceed pre-pandemic levels. But rising geopolitical and trade tensions have boosted intra-Asia trade and insurance demand, with some carriers expanding investments in the region.
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- July 12 2024
Asia Pacific reinsurance market finds a new equilibrium
While the market is ‘finely balanced’ for now, its sustainability will depend on the loss activity in the remaining six months of 2024, according to reinsurance experts and analysts.
