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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Sompo names Alasdair Walker Hong Kong CEO as Li Sheung Kin set to retire
- June 24
Walker will be responsible for driving Hong Kong’s profitability and capabilities as a key commercial business hub in Asia Pacific, reporting into regional insurance CEO Kenneth Reilly.
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Fitch upgrades QBE with reserve risk volatility set to ease, net income hits US$1.8bn in 2024
- June 19
Rating agency upgrades insurer financial strength ratings of QBE Insurance Group's core subsidiaries to AA- (very strong), and QBE's long-term issuer default rating to A with a stable outlook.
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Ex-Tropical Cyclone Alfred insured losses down 12% from initial estimate: Perils
- June 12
Darryl Pidcock, Perils' head of Asia Pacific and cyber, said the reduction was unusual compared to previous Australian events.
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SBI General Insurance appoints Mohd Arif Khan as deputy CEO
- June 12
Khan joins the carrier from the State Bank of India, where he was most recently general manager.