The 31st East Asian Insurance Congress opened in Tokyo yesterday evening, returning the gathering to the city where it began in 1964 for a fourth time in more than six decades. The theme, "Back to the Origin, A Bridge to the Future," called to mind the region's insurance history, the Congress' storied past and the many relationships that were built throughout its 62 years.
Marsh Re has announced the appointments of Mr James Beedle to its Pacific board of directors, subject to regulatory approval, and Mr Justin Ward as CEO of APAC.
In recent years, extreme precipitation associated with linear rainbands has triggered large-scale flooding and landslides, leading to more severe and costly loss events in Japan. Events such as the widespread heavy rainfall experienced during Japan's 2023 summer rainy season have demonstrated the significant losses that extreme precipitation can cause.
Sompo Japan has entered a partnership with satellite-based intelligence data provider, ICEYE to enhance its response to flood events and support customers affected by natural disasters.
Japan's life reinsurance market has undergone quantitative expansion with an increase in ceded volume, as well as qualitative evolution involving a fundamental shift in the role of reinsurance, in recent years, according to The Toa Reinsurance Company (Toa Re).
Japan's insurance regulator has released new regulations, that will come into effect from 1 March 2028, requiring multi-insurer agencies to compare several products aligned with customer intent before making recommendations.
Over the past month, Asia has been hit by two Nat CAT events, namely typhoon Dolphin in China, the Philippines and Taiwan, and Japan's 5.9-magnitude earthquake.
Sompo Japan Insurance will raise automobile insurance premiums by an average of around 5% from January 2027, following a 1.8% increase implemented in July 2026.
The number of claims for the Kumamoto earthquake of 28 July 2026, accepted by the member companies of the General Insurance Association of Japan (GIAJ), have exceeded 40,000 as on 31 July 2026.
Japan's Financial Services Agency has launched interviews with insurers that had business dealings with insurance agency Advance Create, following allegations that insurers may have assisted in concealing improper accounting practices, according to a report by Toyo Keizai.