This week in insurance: Global disaster losses hit $114b, new HK claims hub launches, and Sun Life names new Asia bancassurance chief

Also, two platforms launch Hong Kong injury claims hub.

The insurance industry from 20 to 24 October saw significant developments, including major global loss reports, stronger regional performance in Macau, new digital initiatives in Hong Kong, innovative coverage and expansion moves by insurers and reinsurers, and a key leadership appointment in Asia.

Global insured losses from natural disasters reached at least $114b in the first nine months of 2025, according to Aon’s Global Catastrophe Recap – Q3 2025 report. 

Total economic losses stood at a minimum of $203b.

Macau’s insurance sector posted stronger overall results in 2024, with higher gross premiums and improved profitability across both life and general segments, according to data from the Monetary Authority of Macao.

Total gross premiums reached $4.67b (MOP38.94b) in 2024, up from $4.45b (MOP37.06b) in 2023, marking a 5% increase year on year.

In Hong Kong, WorkInjury.hk and caraccident.hk have partnered to build the market’s most comprehensive free information hub for work injury and traffic accident claims.

The collaboration will offer compensation calculators, legal deadline reminders, and lawyer-reviewed FAQs to help users understand their rights and claim procedures.

In the corporate side, Phoenix Mills Ltd. has become the first company in India to obtain coverage for pandemic-related business interruptions through a parametric insurance policy launched by New India Assurance and reinsured by Munich Re.

Additionally, AllianceBernstein L.P. (AB) is expanding its insurance presence across Asia through an equity investment in Fortitude Carlyle Asia Reinsurance, Ltd. (FCA Re), a reinsurance entity created by Fortitude Re.

Sun Life has appointed Anshuman Das as Chief Bancassurance Officer for Asia, effective 3 November. He will lead the company’s bancassurance strategy across the region and report to David Broom, Chief Client and Distribution Officer for Asia.