
Asia Pacific
International re/insurers are looking to Asia Pacific markets for growth opportunities

Cyclone Alfred declared ‘catastrophe’
Weakened former cyclone struck Queensland on March 8 and has generated more than 9,000 claims

AI adoption could save P&C insurers more than $480bn a year
Digitalised firms increasingly outperforming less technologically advanced rivals, Acord study finds

Australia could face more than $1.2bn in Cyclone Alfred losses
Cyclone Alfred expected to hit southern Queensland this weekend

Australian opposition attacks uncompetitive insurance market
Liberal Party of Australia leader calls for structural barriers to be reduced, so new companies can enter the sector

Chubb to buy Liberty business in Thailand and Vietnam
Liberty operations Chubb is acquiring produced $275m in net written premiums in 2024

Hong Kong extends ILS grants for three more years
City has been making efforts to attract Apac insurance-linked securities business, but lags behind Singapore

Pacific typhoons could prompt risk modelling updates: Chaucer
Specialty re/insurer has incorporated Pacific typhoons shifting northwards into its risk assessments, highlighting an increased likelihood of losses over the next decade

QBE reports 27% increase in profit for 2024
Australian insurer says California wildfire exposure around $200m

Sompo restructure separates P&C and life
The Sompo P&C division will integrate Sompo International’s re/insurance business with its Japan-based commercial and consumer P&C operations

India to allow 100% foreign ownership of local insurers
Finance minister announces measure in budget speech

MS Amlin expands Phoenix Re capacity to more than $90m
Latest issuance represents a 12.5% uplift in capacity from 2024

India authorises third sanctioned Russian P&I provider
Depth of cover unclear, market sources say

Markel names Lin as head of Singapore
Specialty carrier bolsters its Lloyd's Singapore platform with senior appointment

Strong M&A market expected in 2025
Increasing number of mid-market deals expected this year in boost to M&A insurance market, WTW finds

Miller launches in South Korea
Miller Korea will be led by David Kim as head of Korea

WTW launches cyber insurance facility in Asia
QBE and Axl XL-backed facility designed to address evolving cyber security challenges with a primary insurance capacity of up to $15m
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