IAN Reports
- Marine
- Published 30 May 2022
Asia’s marine sector: challenges and opportunities
For much of the last two decades, marine insurance in Asia has remained highly unprofitable. Then four years ago capacity started to reduce and profit began to bounce back. The sector still remains very challenging, though, not least because insurers returning to the sector could now drive down rates.
This report examines some of the opportunities and challenges of the marine insurance sector in Asia, and considers what the next few years might look like as the region starts to pull out of the Covid-19 pandemic. Hear from a range of industry experts, including:
• Anmol Sawlani, chief executive officer at Azure Risk.
• Andrew Brooker, managing director at Latitude Brokers.
• Greg Dodds, Hong Kong country manager at Starr International Insurance (Asia).
• Matthew O’Sullivan, head of motor and marine for Australia and New Zealand at Zurich.
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BHSI appoints Cheryl Tan as head of marine claims, Asia Middle East
- December 20
Industry veteran Tan had earlier worked with Canopius Group, Swiss Re and Catlin Singapore in various roles.
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International Group P&I 2025-26 renewals see rate hikes across categories
- December 20
Fully cellular container ships (FCC) experience the largest rate increase, rising by 23.6%, while clean tankers see an 8.9% increase.
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Japan P&I Club announces 7% premium hike for 2025 renewal amid inflation and uncertainties
- December 10
The increase applies for owners’ and charterers’ entries, while rates for Japanese coastal vessels and FD&D cover remain unchanged.
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Thomas Miller expands energy MGA Navata to Singapore
- December 2
The new operation will be led by senior underwriter Mark Nunn and focus on a diverse range of renewable energy, power, upstream oil & gas and offshore marine hull and equipment risks across the Asia Pacific region.