Backing the underdog
Thailand
Insurance industry to evolve from a reactive approach to a proactive "National Risk Buffer"
A regional reinsurance hub in the making
M&A trend continues to loom over local insurers
Unreliable climate patterns disrupt Thai farming and coverage
Life sector set to reach new heights in 2026
Insurance sector set for steady growth amid demographic and economic shifts
Expanding inclusive insurance in Sri Lanka
Nepal's microinsurance market faces challenges galore
Microinsurance has been a standout segment in the Philippines
India's health microinsurance sector at a critical inflection point
Microinsurance is the path forward for insurance growth to inclusion in India
Parametric microinsurance still evolving in scale and sustainability
Low correlation with traditional financial market movements keeps ILS resilient
General
The Philippines earthquake and its immediate aftermath
India's invisible backbone needs visible protection
Bancassurance allows insurer to launch first takaful product in a decade
Non-life insurers must leverage technology to insure every Indian by 2047
India's AI journey: From AI potential to trusted decisions at scale
Life & health
Singapore's new IP rider requirements offer lower premiums, higher responsibility
Misselling: RBI Directions are an additional grievance redressal forum
Asia CFO Summit: AI, resilience and growth
Thailand's 2011 floods prompted change in the insurance industry, but perhaps not as much as we think
Asian
India: Government to sell 5% stake in GIC Re
Indonesia: OECD delegation commends reform measures in insurance and pension fund sectors
Japan: Multiple births from fertility treatments hit record high after insurance expansion
Philippines earthquake expected to result in limited insured losses due to low insurance penetration: AM Best
Thailand: Life sector on track for record premiums in 2026
Products and alliances
People on the move
We recently sat down with Guy Carpenter’s Head of Retro, Global Specialities, Asia Pacific, Ben Dunnett. We had a frank discussion about the current state of the retrocession market and what it might look like in the coming years.
Asia Insurance Review sat down with Guy Carpenter CEO, Asia Pacific, Tony Gallagher, to get his thoughts on the market dynamics in the APAC region, the most pressing risks facing the industry, the April renewals, and the impact of evolving regulations.
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.