Allianz forecasts rebound for Asia’s insurance markets

Allianz forecasts rebound for Asia’s insurance markets

Allianz forecasts rebound for Asia’s insurance markets

Following a disappointing 2018, Allianz is predicting that Asia’s insurance market will rebound in 2019 and be a primary driver of global insurance growth over the next decade. Industry projections have repeatedly forecast a strong improvement in Asia’s insurance industry given the strong growth rates of many of its economies and the relatively low level of insurance penetration to date.…

FM Global survey shows mixed corporate governance picture for Asia

FM Global survey shows mixed corporate governance picture for Asia

FM Global survey shows mixed corporate governance picture for Asia

Singapore has emerged as the leading country for corporate governance according to the 2019 edition of the FM Global Resilience Index. The insurer’s index has been running for several years now but this is the first time that corporate governance has been added as one of the 12 economic, risk and supply chain-related metrics used to rank countries. Singapore ranked…

Markel appoints new personal accident head in Asia

Markel appoints new personal accident head in Asia

Markel appoints new personal accident head in Asia

US-based specialty insurer Markel International has hired former AIG executive Rajesh Sinha as its new head of personal accident, contingency and entertainment (PACE) in Asia. Mr Sinha will be based in Singapore where he will be responsible for leading the development of new product concepts across numerous product lines and building a profitable and sustainable PACE portfolio across the region.…

Korean premiums fell in 2018, but 3% growth in non-life business

Korean premiums fell in 2018, but 3% growth in non-life business

Korean premiums fell in 2018, but 3% growth in non-life business

The Korean insurance market saw premium income fall by 0.3% in 2018, from KRW202.31trn in 2017 to KRW201.78trn last year. According to Korean Re: “The market continued to face some headwinds in 2018, as a slowdown in the domestic economy weighed on insurance market growth.” In its latest bulletin, Korean Re says that while the life insurance market remained in…

Glyphosate: a new toxic tort timebomb?

Glyphosate: a new toxic tort timebomb?

Glyphosate: a new toxic tort timebomb?

The global spotlight on glyphosate continues, following a third successive US court case finding that the world’s most popular pesticide is carcinogenic. Despite unresolved uncertainties in the scientific evidence, the case resulted in the highest damages award to date, highlighting the burgeoning risk in this developing litigation. Indeed, this may be the beginning of a new toxic tort that has…

Marsh index reports continuing global commercial insurance price increases

Marsh index reports continuing global commercial insurance price increases

Marsh index reports continuing global commercial insurance price increases

Average global commercial insurance prices increased 3% in the first quarter of 2019, according to Marsh’s Global Insurance Market Index. It is the largest increase since the index began in 2012 and the sixth consecutive quarter of rising prices. The index reveals that composite pricing in the first quarter of 2019 increased in all global regions for the second consecutive…

Ping An is most valuable insurance brand, again

Ping An is most valuable insurance brand, again

Ping An is most valuable insurance brand, again

Ping An is the world’s strongest and most valuable insurance brand, according to the latest report by Brand Finance, the brand valuation consultancy. Ping An retained its leading position and saw its brand value increase 93% to $50.5bn in 2019. Brand Finance said Ping An is seeing its investment in technology begin to pay off and reap benefits. “To attract…

Argo Global bolsters APAC underwriting team

Argo Global bolsters APAC underwriting team

Argo Global bolsters APAC underwriting team

Lloyds insurer ArgoGlobal has expanded its Asia-Pacific team by appointing Zachary Tan as accident and health (A&H) underwriter. Mr Tan will be based in Singapore and will report to Michael Scala, chief underwriting officer, Asia-Pacific. Mr Scala said the appointment is a demonstration of ArgoGlobal’s ambition to grow its Asia-Pacific business. “With a strong team in place both at Lloyd’s…

Sompo adds new life sciences team

Sompo adds new life sciences team

Sompo adds new life sciences team

Sompo International Holdings has formed a new life sciences team within Sompo Global Risk Solutions. Led by Todd Lauer, the new division will offer buyers in the life sciences industry products from its property/casualty range, including product liability, clinical trial liability, property, auto, workers’ compensation, environmental, and product-related errors and omission cover. Products are aimed at US small and middle-market…