Asia Pacific

Fitch: Reinsurance reforms may impact Australian insurers’ credit profiles

Proposed changes to reinsurance-related capital requirements may support Australian general insurers’ credit profiles over the medium term, but cat reinsurance pricing and claims costs will remain key factors in determining the long-term effect on capital and earnings, according to Fitch Ratings.

UIB Group expands in Asia with Nepal office

UIB Group has opened a new representative office in Kathmandu as the insurance brokerage seeks to expand its presence across Asia.

CFC names Fenwick APAC transaction liability practice head

CFC has appointed Janine Fenwick as its transaction liability practice leader for Asia Pacific.

Argyle gets Mitsui Sumitomo capacity for Australia SME program

Insurtech MGU Argyle Insurance has agreed a multi-year capacity agreement with Mitsui Sumitomo Insurance Co to write a portfolio of coverage targeted at SMEs in Australia.

GIC Re targets renewed international growth following ratings upgrade

India’s state-backed reinsurer GIC Re has targeted growth of its international book, taking advantage of its recent rating upgrade from AM Best, according to managing director and chairman Ramaswamy Narayanan.

Charles Taylor expands marine technical services across APAC

Charles Taylor has expanded its marine technical services team with hires in Australia, Singapore, Hong Kong and China.

GIC Re posts 111.6% CR in fiscal H1 as UW loss narrows

India’s state-backed reinsurer GIC Re saw its underwriting loss narrow as it reported a combined ratio of 111.6 percent for the first six months of its fiscal year ended 30 September 2024.

Peak Re’s Cheng: Asia agriculture demand to keep rising as exposure grows

Asia is a leading provider of key crops such as rice and wheat but insurance availability across the continent is struggling to keep pace with rising exposures.

Howden hails &quote;critical paradigm shift” as insurance appears on COP29 finance day agenda

Howden hails "critical paradigm shift” as insurance appears on COP29 finance day agenda

The introduction of (re)insurance to the Finance Day agenda at COP29 marks a “critical paradigm shift” in how the sector is increasingly perceived as a strategic priority in accelerating the low-carbon transition, a new report by Howden has said.

Howden continues Asian expansion with Hong Kong acquisition

Howden has strengthened its position in Hong Kong with the acquisition of Storfield Insurance Consultants Ltd.

Addressing analytics in Asia Pacific

Aon’s Brad Weir and Tom Mortlock discuss the trends impacting the Asia Pacific reinsurance market.

Innovation and collaboration key for sustaining Asia’s renewable energy boom

Creating financial resilience for sustained progress in renewable energy in Asia will require greater collaboration, research, external capital and a seat at the table for insurance.

Record SIRC attendance highlights Asia growth opportunity

This year’s Singapore International Reinsurance Conference has seen another record attendance, with 3,300 delegates on site for the last major event in the annual international conference season.

Singaporean grads cite limited development and lack of info as top insurance deterrents

More than one-quarter of recent university graduates in Singapore do not see insurance as an attractive career option, with top factors including limited career growth opportunities and lack of information about the industry, new research by Canopius has found.

Capacity providers target India as capital looks for more stable home

An increasing number of capacity providers are targeting India as they look to expand their footprint in the Asia Pacific region, according to Aon’s John Morley.

Seadrif aims to close public asset insurance gap across Southeast Asia

Seadrif Insurance Company’s recently appointed executive director has vowed not to compete with the private market as the disaster risk pooling initiative seeks to expand its membership across the ASEAN+3 region.

Lloyd’s Asia turns 25 as $1bn premium milestone draws closer

Lloyd’s will celebrate the 25th anniversary of the launch of Lloyd’s Asia in Singapore later today, with the platform set to pass the $1bn premium mark in 2024 having narrowly missed the milestone last year.

Expectations converge on broadly flat 1.1 renewals as conference season closes

Industry sentiment continues to point towards broadly flat property catastrophe reinsurance renewals as this year’s international conference season concludes in Singapore today, with recent reinsurer gains on terms and conditions likely to be maintained at 1.1.

Charles Taylor grows Malaysia loss adjusting offering in APAC push

Charles Taylor has continued its expansion in the Asia Pacific region with a 20 percent increase in its workforce in Malaysia over the past year, strengthening its offering in property, liability, construction and engineering, and motor.