APAC
APAC’s commercial auto insurance set for steady 3.2% CAGR
APAC’s commercial auto insurance set for steady 3.2% CAGR
Globally, the market is forecasted to register CAGR of 9.9%.
Asia Pacific to lead global motor insurance growth
The market is also estimated to have bagged $833.8b last year.
What will drive the reinsurance sector to bag $68b in four years?
In 2023, APAC accounted for 13.3% of global reinsurance premiums.
This week in insurance: Insurers scale back on HK boomers, China eyes nonstandard securitisations, Zhibao's new reinsurance unit
Losses from the 7.7-magnitude Myanmar earthquake in March will also be absorbed by reinsurers.
Swiss Re warns motor insurers on rising claims pressures
Last year saw 90 million car sales, which required mandatory motor coverage.
Insurance Development Forum pushes insurance access with 2025–30 strategy shift
It also plans to strengthen public-private partnerships.
Chubb’s Q1 2025 profit dips 38%
P&C lines' premium growth was 6.1% for the region.
Central Asia insurers diversify portfolios with reinsurance play: AM Best
Despite the shift possibly driving profits, AM Best still warns of risks.
P&C insurance market prepares for demographic shift by 2050: Capgemini
45% of consumers expect to spend more on lifestyle upgrades.
Asia’s commercial rates contracts in Q1 2025
This is the fifth consecutive quarter that rates have fallen.
Swiss Re brings in 17-year CRO veteran for top risk role
He will succeed Patrick Raaflaub, who is stepping down from the role.
Insurance companies risk missing $160b without AI scale
Those who successfully deploy AI invest about 30% more in AI capabilities than peers.
Marsh McLennan posts 1.4% dip in net income for Q1 2025
It’s APAC segment bagged $335m in revenues.
Chubb assigns Janene Blizzard to oversee A&H portfolios in APAC
Blizzard joined Chubb in 2008.
Embedded insurance emerges as fastest-growing distribution channel
Nearly a third of professionals favour it over direct-to-consumer models.
Global protection gap narrows to 36%, lowest Q1 figure since 1990
Earthquakes in Myanmar and China were drivers of insured losses from disasters.
Markel announces acquisition of marine insurance specialist MECO Group
Markel plans to leverage MECO’s presence in APAC.
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AI isn’t replacing insurance, it’s finally making it work