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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GIC Re’s FY25 underwriting loss at US$403m, COR improves to 108.8%
- May 27
Carrier’s net profit for the financial year rose by 3.1% to US$784.3m, while GWP grew by 10.7% to US$4.8bn.
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Axa XL gives Jamie Chambers expanded role as greater China CEO
- May 22
Chambers will continue to lead Hong Kong business while also taking on broader leadership responsibilities across China, Macau, and Taiwan.
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Tokio Marine Group’s FY24 NWP up 10% to US$36.7bn
- May 20
Top-line results in line with the projections and strong due to rate increases domestically and internationally, product revisions for fire and motor and expanded specialty lines sales.
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Sompo posts record profits, bolstered by overseas business
- May 20
Japanese group’s international business' underwriting income grew by almost six times to US$399m in FY24.