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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Beijing hail leads to US$44m insured loss from widespread motor, property damage
- May 16
Local insurers have received at least 45,600 claims, with the majority related to motor, as of May 14, according to the Beijing Financial Regulatory Bureau.
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Philippines’ P&C growth supported by rising demand, stabilised reinsurance capacity: AM Best
- May 15
However, underwriting performance is subject to greater volatility due to the country's increased nat cat exposure.
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Korea’s FSC to establish bridge insurer for MG Non-Life reorganisation: report
- May 13
Temporary insurer will be funded by Korea Deposit Insurance Corporation to manage the troubled carrier's insurance contracts and transfer to other non-life carriers.
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‘Industry legend’ Paul Schappacher returns to AIG Australia as senior commercial property underwriter
- May 8
Melbourne-based Schappacher previously worked at Chubb, Suncorp, Great Lakes and Zurich.