Energy Archives - InsuranceAsia News https://insuranceasianews.com/industry_segments/energy/ Thu, 10 Oct 2024 10:07:25 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 BESS-wary markets look for leadership to bind risks https://insuranceasianews.com/gcubes-bess-consortium-aims-to-simplify-bess-claims-and-underwriting-amid-markets-hesitations/ Thu, 10 Oct 2024 23:30:52 +0000 https://insuranceasianews.com/?p=164441 Renewables specialist GCube's CEO says the market has to facilitate insurance on a more consistent approach as more projects appear around the world.

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While there is a lot of capacity for battery energy storage system (BESS), the challenge is finding carriers willing to provide lead capacity and set the terms and conditions for this type of risk, ac...

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]]> MSIG Asia hires senior execs for Asia expansion https://insuranceasianews.com/msig-asia-hires-senior-execs-for-asia-expansion/ Thu, 10 Oct 2024 06:56:22 +0000 https://insuranceasianews.com/?p=164593 Rajnish Pal has joined the firm as senior vice president and head of transformation while Christian Kolmberger has been appointed as senior vice president, underwriting, reinsurance and claims.

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MSIG has hired two industry veterans as senior vice presidents to expand its Asian operations, according to a company statement. Rajnish Pal has joined the firm as senior vice president and head of tr...

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]]> Asian power insurance sector sees a return to ‘buyers’ market’: WTW https://insuranceasianews.com/china-singapore-power-insurance-rates-see-flat-to-slight-reduction-wtw/ Tue, 08 Oct 2024 09:43:21 +0000 https://insuranceasianews.com/?p=164332 Renewal rates outside China are seeing a reduction of up to 10% for well-managed assets and rates are expected to further soften over the next 12 months.

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The Asian power insurance market is set to turn into a “buyers’ market” as ready availability of capacity, and lack of large losses are driving down prices, according to a sector report by WTW.
After ...

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]]> Chubb powers up ANZ energy & technical lines with HDI’s Jane Ravi https://insuranceasianews.com/chubb-taps-hdi-global-ravi-as-energy-technical-lines-manager-for-anz/ Thu, 03 Oct 2024 03:07:44 +0000 https://insuranceasianews.com/?p=163784 Sydney-based Ravi is responsible for leading the company's portfolio in her new role as manager for the Australia and New Zealand energy and technical lines business.

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Chubb has appointed Jane Ravi as energy & technical lines manager for Australia and New Zealand responsible for leading the company's portfolio in the region and delivering solutions to clients an...

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]]> Reinsurers’ risk insights, modelling vital to taming escalating nat cat losses: Swiss Re https://insuranceasianews.com/reinsurers-risk-insights-modelling-vital-to-taming-escalating-nat-cat-losses-swiss-re/ Tue, 01 Oct 2024 23:30:29 +0000 https://insuranceasianews.com/?p=163841 Besides providing capacity, the reinsurer's expertise and insights on risks related to climate change and renewable energy are key to its collaboration with insurers in limiting nat cat losses, says Victor Kuk.

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Reinsurers play a crucial role in helping insurers navigate the volatile risk environment as the frequency and severity of secondary perils and climate events rise, said Victor Kuk, head of P&C re...

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]]> Climate change, green transition and geopolitics reshaping marine insurance https://insuranceasianews.com/marine-carriers-eye-asia-for-growth-as-emerging-risks-come-to-the-fore/ Mon, 23 Sep 2024 23:30:20 +0000 https://insuranceasianews.com/?p=163281 The growing importance of Asia underlined the 150th annual International Union of Marine Insurance conference where geopolitical tensions, extreme weather risks, and energy transition dominated discussions.

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This year’s annual conference of the International Union of Marine Insurers (IUMI) focused on the biggest challenges for the market, its clients and IUMI itself as over 800 marine carriers gathered in...

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]]> Data crucial for Asia’s renewable drive as offshore wind power gains momentum https://insuranceasianews.com/asian-risk-data-crucial-for-renewable-energy-drive-in-the-region/ Wed, 11 Sep 2024 23:30:00 +0000 https://insuranceasianews.com/?p=162572 With the region prone to nat cat risks such as earthquakes and typhoons, demand for data is rising as (re)insurers are looking to better understand the risk profiles of the growing numbers of renewable projects such as offshore wind farms.

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The drive for renewable energy has created a range of challenges for insurers and their reinsurers with the need for the creation of new models and accumulation data for Asian risks.
James Summers, Gu...

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]]> Captives pivotal to development of Belt & Road green energy projects: HKIA panel https://insuranceasianews.com/hong-kong-captive-insurance-pivotal-in-supporting-belt-road-green-energy-projects/ Wed, 11 Sep 2024 21:30:54 +0000 https://insuranceasianews.com/?p=162597 The SAR seeks to be the preferred captive domicile to manage risks from overseas renewable energy projects, participants at a Belt & Road summit moderated by the city's Insurance Authority heard.

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Captive insurance in Hong Kong plays a pivotal role in supporting China’s Belt and Road (B&R) projects, especially in less coal-intensive energy sectors and managing the risks from energy transiti...

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]]> BHSI expands Asia team with two hires https://insuranceasianews.com/bhsi-expands-singapore-team-with-two-hires/ Mon, 26 Aug 2024 02:22:57 +0000 https://insuranceasianews.com/?p=161214 Singapore-based Kiran Prakash's role has been expanded to head of first party lines, as Jessie Yuen has been promoted to head of energy Asia succeeding Ming Ong, who has relocated to London.

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Berkshire Hathaway Specialty Insurance (BHSI) Singapore has expanded Kiran Prakash's role to head of first party lines, and promoted Jessie Yuen to head of energy, Asia according to a press release.
P...

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]]> Can insurers’ risk appetite keep pace with APAC’s ambitious energy transition? https://insuranceasianews.com/can-insurers-risk-appetite-keep-pace-with-apacs-ambitious-energy-transition/ Wed, 21 Aug 2024 23:30:53 +0000 https://insuranceasianews.com/?p=160959 With uncertainties around new technology, an underwriting base prone to knee-jerk reactions and an eye still on conventional energy, insurance has a long way to go before it fulfils its responsibilities.

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The insurance industry isn’t known for its cavalier approach to change but one area where it appears to have stepped up with admirable speed is in supporting the world’s transition towards carbon-neut...

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