What a big energy bill you have
Main business imperative of reinsurance is investing in people
Ensuring SIRC remains future-ready
Philippines reinsurers see rising risk retention
Korean reinsurers face new challenges under IFRS17 and K-ICS
Building confidence in Asian markets through reinsurance
Navigating reinsurance challenges to stay relevant
Demographic shifts create challenges for life and health
India reinsurance outlook is optimistic
View from India - India is a growing global reinsurance hub
Balancing reinsurance growth, risk and sustainability
Reinsurers can benefit from catastrophe modelling and risk transfer
Malaysian reinsurance is evolving
Strong demand for traditional and structured reinsurance
How ARPC engages with Asian (re)insurers
General
Paving the road for EV insurance
Adjusting to significant new claims trends
Weather, infrastructure and economic losses in Asia
Political risk covers are essential for businesses
Global surge in political violence strains insurance market
APAC still has capacity for political violence insurance
Life & health
Wearables help insurers and customers
Singapore
Strong growth for Singapore's general insurance market
Calculators to show tangible mortality and CI protection gaps
Singapore motor insurers struggle with rising claims
Singapore life insurers serving the ageing population
Economic growth bodes well for Singapore insurance
China gets tough with agriculture insurance frauds
Insurance agents fear China's bull market
Pakistan regulator proposes insurance liberalisation
Solving the implementation puzzle of machine learning
The possibility of causal AI in insurance
East Asian insurers continue to collaborate
The challenges and risks of deep sea wind energy
Singapore Insurance Institute turns 60
ARIDC in Thailand amid global uncertainty
The smart use of captive insurance in APAC
Ageing is the new factor for the insurance industry
Asian
Asia Pacific: Reinsurance pricing stable due to adequate capacity
Asia Pacific: Insurers reduce exposure to equity or credit risks
India: Non-life gross direct premiums grow by 7% to $18bn in first three quarters of this year
Zurich Malaysia and GXBank launch cyber protect digital insurance product
India's ACKO Tech launch flexi term life insurance plan
Singapore's Income Insurance launches FlexiTravel Plus
MSIG Insurance launch new CI health insurance policy, covering Parkinson's and Alzheimer's
Singlife introduces new IUL plan
People on the move
Three severe hail events in the past 3 years have shined a spotlight on this risk in Japan. Historically overshadowed by typhoons and earthquakes, hailstorms can generate insured losses of billions of dollars. Insurers are now seeking ways to lower hail risks in Japan through the development of high-resolution hail mapping technology and mitigation measures to safeguard portfolios against future hail events.
We talk to Tony Gallagher CEO, Asia Pacific region for Guy Carpenter about the 1/1 renewals and what to expect at the April renewals, emerging risk in 2024 and which business lines have the most scope in the year ahead.
The global nature of the reinsurance industry has enabled the diversification of risk away from concentration in specific regions to the larger global market.
However, record catastrophe losses, inflation stemming from increased interest rates, geopolitical tensions and heightened climate risk are putting operating pressures on insurers and reinsurers. The increasing frequency of higher- magnitude natural disasters against the backdrop of a bearish market with rising interest rates sets up a perfect storm for reinsurers to harden their pricing to reflect a more prudent risk appetite.
In the next video of the series, we talk to Guy Carpenter Head of Structured Solutions, Asia Pacific Hussain Ahmad, and Partner with OIiver Wyman Jing Wei Jia about market trends and developments, business planning for insurers, the evolving market and optimising capital.
Macroeconomic Environment The investment environment is currently in turmoil. High inflation in many countries, driven by both supply-side and demand-side factors, has compelled central banks to raise interest rates in response. Interest rate hikes then flow directly into asset valuations. Additionally, recessionary expectations, the banking crisis and geopolitical issues are currently creating havoc in asset markets.
The next video in the series looks head at Guy Carpenter’s plans for the year 2023.
We talk to Guy Carpenter CEO, Asia Pacific Tony Gallagher about the company’s plans for 2023, Asian markets to look out for, as well as potential risks.
The next video in the series looks at the general impact of inflation - and how inflation is panning out in Asia Pacific. We talk to Guy Carpenter vice president, strategic advisory Asia Pacific Philip Doyle about how insurers should respond to inflation right now.
The insurance protection gap is generally defined as the difference between total and insured loss costs. Globally, 2021 total losses from natural disasters were estimated to equal approximately USD 280 billion, of which approximately USD 120 billion, or 43%, were covered by (re)insurance.(1) This gap was smaller than many previous years because a higher proportion of losses occurred in the US, which has one of the most developed insurance markets in the world, with high penetration.
Secondary perils represent a complex and nuanced challenge for the (re) insurance industry. In essence, these natural perils are “known, unknowns.” They are known to pose a risk, but our industry does not always have a full understanding of their potential impacts.
The next video in the series looks at how ESG is playing out in Australia and the opportunities and challenges that this will bring to the insurance industry.
The next video in the series looks at defining secondary perils, insuring against them, the importance of modelling – and the role of reinsurance in closing the protection gap.
The next video in the series looks at global systemic risks, climate risk, net zero planning and risk as it relates to ESG.
We talk to four leading risk-industry professionals - Mercer president of Asia, Middle East and Africa Renee McGowan, Guy Carpenter CEO of Asia Pacific Tony Gallagher, Oliver Wyman partner – head of APR public policy Jacob Hook and Marsh Asia head David Jacob.
The next video in the series looks at the impact of recent cyber events in Asia.
Guy Carpenter managing director, cyber centre of excellence leader Siobhan O'Brien talks to Asia Insurance Review about what insurers can do to mitigate the impact of these cyber events.
The next video in the series looks at the impacts of recent economic and regulatory changes on life and health insurance in Asia Pacific.
The next video in the series looks at the changing nature of risk management.
China Pacific Property Insurance Company chief actuary Chen Sen talks to Asia Insurance Review about why risk management is changing and what part technology plays in this – and how corporates can prepare for the change.
The first video in the series looks at the changing nature of risk.