Peak Re has announced the successful issuance of the second CAT bond, via Black Kite Re, a special purpose insurer (SPI) in Hong Kong. Building on the success of its inaugural 2022 issuance, this transaction secures $50m in retrocessional reinsurance protection, extending coverage in Japan to earthquake and typhoon risks while introducing parametric earthquake protection for China and India.
According to Prudential, in 1Q2025, new business profit on a traditional embedded value went up 12% to $608m, annual premium equivalent (APE) sales went up 4% to $1.7bn and new the new business margin increased by two percentage points.
Transamerica Life Bermuda has appointed Ms Kristine Ung as CEO, effective 1 May 2025 and subject to regulatory approval.
Swiss Re Corporate Solutions announced that it has closed down its Hong Kong office and surrendered its license.
Manulife Hong Kong and JUST FEEL, a Hong Kong-based NGO dedicated to emotional education, has announced a multi-year strategic charity partnership.
Willis has appointed Mr Steve Hutchinson as head of property and casualty for Hong Kong and Macau, effective 2 May 2025.
Asia's real estate and insurance sectors are grappling with substantial financial risks, while also encountering new opportunities, as climate change drives more frequent and intense extreme weather events.
AXA Hong Kong and Macau has teamed up with Ant Bank and AlipayHK to provide insurance products and services to AlipayHK users via Ant Bank and its Mini App within the AlipayHK App.
Sun Life, in partnership with global sport for social change foundation Beyond Sport, has announced the extension of its "Hoops + Health" philanthropy programme for the second year, with the goal of helping 45,000 young people get active by the end of 2025 by providing safe spaces, coaching programmes and equipment in underprivileged communities.
The Hong Kong Federation of Insurers (HKFI) says that it is conducting an internal holistic review of the current healthcare ecosystem and will be providing recommendations from an insurance perspective.