APAC
MSIG Asia taps new VPs to lead transformation and underwriting efforts
MSIG Asia taps new VPs to lead transformation and underwriting efforts
One will focus on operational efficiency whilst the other on non-marine business.
Global specialty insurance market to grow by $57b in 2028
Lack of robust IT security infrastructure heightens risks.
Large cyber claims jump 14% as privacy breaches worsen in 2024
Costs could skyrocket from €20,000 to €20m if left unchecked.
Lloyd’s projects $14.5t loss from hypothetical global conflict
The scenario highlights the vulnerability of global trade.
MoneyHero, bolttech new car insurance platform to expand in two markets
MoneyHero’s insurance segment accounts for 7% of total revenue in 2023.
Will low premiums persist in offshore energy insurance?
Neither frequency nor severity of claims significantly impacted market capacity.
Insurance scrutiny intensifies on coal, wildfire risks
However, power Industry business interruption sectors see improved pricing.
New Beazley Quantum targets corporations with over $1b turnover
This initiative injects $100m in fresh capacity into the cyber insurance market.
FWD, Roche partnership targets early diagnostics
The partnership will run for three years.
What opportunities does APAC's millionaires offer insurers?
China is home to 6 million millionaires, second only to the US.
HSBC appoints William Chan as investment head for global insurance
He leads a team of investment specialists in Hong Kong.
Cyber resilience lagging despite budget increases
The average cost of a data breach across respondents stands at $3.3m.
Generali, UNDP tackle $1.8t protection gap
Parametric policies provide pre-agreed payouts based on verified triggers.
SEADRIF issues $3m payout to Laos
Donor governments include Japan and Singapore.
Super Typhoon Yagi triggers IFRC insurance policy
Thanks to disaster relief demands in 2024 surpassing the fund’s $40m threshold.
Prudential targets 9% to 13% growth in H2 2024
However, analysts raised concerns about the impact of non-controlling interests.
Manulife IM appoints Calvin Lim as alternatives investment specialist
Lim was part of the private markets & alternatives team at Bank of Singapore.
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For Asia’s insurers, boldness is the key to an AI-driven transformation
India’s cyber risk paradox: High attack rates, low insurance preparedness