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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P&C GWP growth in mature APAC markets to reach 3.2% in 2024: Swiss Re
- November 20
Emerging Asia will remain the main driving force with non-life premiums to grow at a 7.4% CAGR in 2025‒26 as India outperforms all major developing markets.
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NorthStandard to implement 5% premium increase for 2025-26 renewal
- November 19
The hike would apply to all P&I members, although each renewal would be agreed individually based on a review of claims and risk exposure.
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Taiwan prohibits vessels covered by four insurers from commercial seaports
- November 18
The action follows the carriers' – Ascent, Edinburgharian PANDI Management, Polaris and Arsenal – failure to resolve shipwreck-related disputes.
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Taiwan prohibits vessels covered by four insurers from commercial seaports
- November 18
The action follows the carriers' – Ascent, Edinburgharian PANDI Management, Polaris and Arsenal – failure to resolve shipwreck-related disputes.