Asia Pacific
International re/insurers are looking to Asia Pacific markets for growth opportunities
Gallagher and WTW joint brokers on Air India insurance cover
Reports suggest New India leads operator’s insurance cover, while AIG said to lead reinsurance programme
Perils lowers Cyclone Alfred loss estimate to A$2.3bn
Reduction in overall losses 'unusual' compared to previous Australian events, loss aggregator says
Reinsurers’ catastrophe PMLs continue to grow: Moody’s
Despite moderating prices reinsurers are ‘generally still eager’ to deploy capacity, particularly for US wind risk
Rokstone taps QBE’s Chandran to lead Apac marine business
Specialty MGA hires marine market veteran to drive Asia expansion
Markel launches financial institutions cover in Australia
Insurer continues to build-out presence in Australian market
Asia-Pacific marine insurance is entering ‘stage of uncertainty’: Sompo’s Ong
Long-term prospects for region remain bright, insurer’s Apac head of marine says
Singapore High Court decision provides case law on Insurance Act wording
Ruling establishes meaning of ‘term defining the risk as a whole’ under section 11 of 2015 legislation
Asian piracy jumps almost 50% in first quarter
Crews should step up security rounds and heighten watchkeeping, piracy watchdog warns
Peak Re adds second Black Kite catastrophe bond
Latest bond secures $50m reinsurance protection for earthquake and typhoon risks in Japan and introduces parametric earthquake cover for China and India
Cyclone Alfred insured losses pegged at A$2.6bn: Perils
Cyclone Alfred left over 300,000 homes and businesses without power and caused severe damage to the beaches on the Gold Coast and Sunshine Coast
Markel to buy fixed-premium provider MECO
Acquisition strengthens specialty insurer’s footprint in marine
Armed robbery incidents surge in Singapore Strait
While most of these incidents are classified as ‘low-level crimes’, security experts have warned attacks have potentially serious consequences for seafarers
South-east Asia quake could lead reinsurers to review risk models
M7.7 quake could lead to re-evaluation of earthquake risk in Thailand and lead to increased demand for cover
Rates fall at April 1 renewals amid increased competition
Pricing on loss-free Japanese programmes fell as much as 15%, ending an extended period of hardening, brokers report
MS&AD to merge insurance subsidiaries following governance failings
Japanese giant to combine Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance and implement governance changes after data leak scandal
Australian official says insurance costs are growing problem
Apra’s Magill urges more transparency on prices and conditions
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