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- February 7 2023
Andrew Harris to lead reinsurance for Oneglobal Singapore
Market veteran Harris will provide capital and placement solutions for climate change-affected nat cat risk exposures across Asia Pacific.
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- February 6 2023
Retro squeeze pushes Asia reinsurers to more tailored cover
Portfolios exposed to the US, Japan and loss-hit territories saw the highest prices, increased retentions and capacity withdrawal at 1.1. renewals.
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- February 2 2023
Omar Ghaznawi to lead Chubb international personal lines, APAC
Joining from the insurer's New York team, he will be in charge of the region's motor, residential, specialty personal and HNW lines.
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- January 31 2023
Asia trade credit market hardens, prepares for insolvencies
Higher demand and prices are helping insurers buffeted by supply chain disruptions, economic headwinds and less government support.
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- January 30 2023
Asia 1.4 renewals to bring more rate hikes and tough negotiations
Nat cats are set to impact the Philippines, while global trends will push up pricing in India and Japan.
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- January 25 2023
US$10.5m estimated air crash loss raises concerns over Nepal’s aviation sector
IAN understands that Nepali insurers usually only take up 3% of the ratio of the loss payout.
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- January 25 2023
Micia Yong handed executive role at Gallagher Re
In her new role, Yong will be responsible for retrocession and client work in Asia Pacific.
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- January 25 2023
Aon implements OED standard for property reinsurance risk modelling
Initial testing on reinsurance placement data for Japan, Australia and China has proved highly successful.
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- January 18 2023
Net-zero alliance goes soft on emerging markets
The first protocol transitions from commitments to implementation, but excludes many classes, including all lines of treaty, from its scope.
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- January 18 2023
First net-zero protocol faces backlash for ‘lack of ambition’ and ‘greenwashing’
Activists say reduction target of 34% by 2030 is lower than IPCC recommendations and exclusions to construction and erection all-risk lines allow insuring of new power plants.
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- January 12 2023
Simon Weaver to head WTW’s newly combined Asia Pacific operation
The broker has integrated its Asia operations with Australasia, which was being led by Weaver.
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- January 9 2023
Lloyd’s Asia hires Allianz’s Janus Cheung for market development
Singapore-based Cheung will report to the regional chief executive and will be responsible for growing distribution.
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- January 4 2023
Australia floods, Fukushima earthquake top 2022 nat cat losses: Cresta
With Typhoon Nanmadol, three out of the top seven ex-US loss events exceeding US$1bn were from Asia Pacific.
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- January 3 2023
2023 offers (re)insurers a slow path to recovery
Despite the challenges, carriers will find a way out of the woods as rates stabilise and more capital is made available.
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- December 30 2022
MS&AD investment arm adds US$100m dry powder
The venture capital fund will invest in overseas insurtechs and digital startups related to risk and insurance, which are strategically relevant the Japanese carrier.
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- December 29 2022
P&I insurers to quit war risk cover for Russia and Ukraine from January 1
Exit by reinsurers due to huge losses and lack of retrocession is forcing P&I clubs that cover 90% of ships to stop offering war risks.
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- December 29 2022
Pakistan floods cost US$5.3bn in losses to SME businesses: report
The August floods, which affected 33m people, destroyed 25% of the country's small and medium businesses.
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- December 28 2022
Asian M&A: deals that shaped the market in 2022
The region saw global insurers expanding their grip on South-East Asia, broker consolidation and a PE-backed digital push.
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- December 28 2022
Japan’s big three told to continue marine cover in Russia: report
Insurers' plans to exit the business announced last week could affect the country's energy imports of Sakhalin-2 liquefied natural gas, which accounts for 9% of its imports.
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- December 26 2022
Updated: Asian 1.1 renewals ‘toughest in living memory’
Retro constraint and nat cat losses leading to backlogs in a renewals season said to be 'challenging on all fronts'.
