Climate Risks
Australian council supports new funding round for disaster mitigation
Australian council supports new funding round for disaster mitigation
The fund provides $125.8m (A$200m) annually.
APAC's insured only 5.4% of $74b disaster losses: Aon
APAC was also the second-largest region in terms of economic losses.
Taiwan holds $189b in earthquake insurance liabilities
There were 3.6 million policies in force as of end-December last year.
Only 9.1% of Asia's economic losses insured in 2024
The five-year average for insured losses was $11b.
Insurers alert to higher cyclone, flood risks in Australia
The threat of tropical cyclones remains high in northern Australia.
Climate change drives $600b in insured losses over 20 years
28 leading global insurers saw climate-related losses reach $10.6b.
Insured losses top $100b for fifth consecutive year
Annual insured losses are expected to rise by 5% to 7%.
Zurich and GoImpact offer climate risk tools in APAC
The collaboration provides solutions such as climate risk assessments.
ICA backs Senate's recommendations on climate risk impact on insurance premiums
Insured losses reached $2.19b between 2023 and 2024 due to four extreme weather events.
Gallagher Re launches global tropical cyclone research consortium
Tropical cyclones have caused $710b in insured losses globally since 2000.
Insufficient insurance amplifies banks' climate risk
The lack of coverage raises silent risks in the banking industry, Aon said.
Global insured NatCat losses hit $60b in H1 2024
The US alone experienced 12 severe storms in H1.
Global NatCat drive $61b in insured losses in H1 2024
The region accounted for 6% of the total.
IAG caps natural perils costs at $1.3b
It also said it is on track to report FY24 profit and margin at the upper end of the guidance ranges.
Climate insurtech seals deal to offer parametric insurance in Asia
Extreme weather events cost global agriculture $10b to $15b annually.
Insurance pivotal in risk resilience enhancement: Marsh
“There is No Planet B” author urged the sector to factor in risks of ongoing polycrisis.
Climate change impacts wind turbine infrastructure, insurers advised
A 10% decline in wind speed can result in over a 30% reduction in output.
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1. MSIG Asia, RiskPoint bet on renewable energy insurance 2. UOI proposes $8.9m final and special dividends for FY2024 3. Global insurtech funding hits seven-year low in 2024 4. Wealthy Chinese use insurance for legacy-planning 5. Experts examine AI's impact on Thailand’s financial services sectorResource Center
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Embrace AI or be left behind, an expert said at the Asian Banking & Finance and Insurance Asia Summit today.
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Ageing populations and rising mortality main concerns for life insurers and reinsurers