IAN Reports
- Property & Casualty
- Published 25 Apr 2025
Insuring APAC’s energy transition: from grand ambitions to lingering challenges
The renewable energy sector in Asia has experienced a remarkable shift in the past few years, with wind and solar power overtaking traditional sources like hydroelectricity, while emerging technologies like offshore wind and battery energy storage systems (BESS) find wider adoption.
This report delves into the current state of renewable energy in Asia, highlighting both the opportunities and challenges it presents to the region's (re)insurers. Insights from a diverse group of experts shed light on the future trajectory of this dynamic sector:
• Rob Jones, Asia renewable energy leader at Marsh
• Guillaume Parard, head of P&C for Asia at Axa XL
• Tom Baker, head of renewable energy at Markel
• Alex Davies, director of power, downstream and renewables at Price Forbes
• Will Hiller, underwriter at GCube
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Peak Re reports 25.1% GWP growth to US$1bn H1 FY25
- August 28
Reinsurer's revenue also grew by 36.8% to US$661 million compared to the first half of 2024, according to a stock exchange filing by parent company Fosun International.
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MG Non-Life’s bridge insurer set for launch as labour union agrees to 55% employee retention: report
- August 21
Yebyeol Non-life, the temporary insurer set up to manage the troubled carrier's insurance contracts, is likely to be launched next month following an agreement with the labour union.
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ZhongAn interim profit soars as underwriting gains, COR drops to 95.6%
- August 21
The Chinese online insurer reported underwriting profit of US$90m, up 109% year-on-year.
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Sompo’s Q1 P&C profit up 37% on strong domestic performance
- August 14
Japan unit reports 96.1% COR, a 7.2 percentage points improvement from 103.3% a year ago on strong fire and motor results.