Asia
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Marsh posts ‘outstanding’ 2022 result on the back of hard market
John Doyle, president and CEO of Marsh McLennan, described 2022 as an “outstanding year” for the group, which reported net…
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Gallagher expects further rate increases as it reports revenue growth
Primary insurance rates will likely increase further in 2023 as the effect of higher year-end reinsurance costs filter through to…
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Vietnam launches new insurance market development strategy
The Vietnamese government has formulated the Strategy for the Development of Vietnam's Insurance Market to 2030, with the goal of…
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CONFERENCE: Construction Risk Management APAC
The construction sector in the Asia Pacific region is facing an increasingly uncertain operating environment. Components of this uncertainty are…
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New head of captives in APAC and Europe at AXA XL
Marine Charbonnier has been appointed as head of captives and facultative underwriting, APAC & Europe at AXA XL Insurance. She…
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Insured losses of $132bn from naturals disasters in 2022
Insured losses from natural disasters amounted to $132bn in 2022, the fifth costliest year on record for insurers, according to Aon’s…
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Chubb appoints Singapore country president
Hng Keng Yoong has been appointed as country president for Chubb’s general insurance operations in Singapore, subject to regulatory approval.…
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Reinsurance renewal signals new reality for buyers, says Aon
The January 2023 renewal was the most challenging in a generation, as the reinsurance market underwent a fundamental shift in…
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BI and cyber top risk list for Americas and Asia Pac in Allianz Risk Barometer
The two most important business risks in the Americas and Asia-Pacific in 2023 are business interruption and cyber incidents, according…
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New executive director for Howden CAP in Asia-Pacific
Christopher Evans has been appointed as executive director at Howden CAP. The broker said the move comes as the new…
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New head of Taiwan at WTW
Tony Yen has been appointed as head of Taiwan at WTW. He succeeds Charles Wang, who retired in December 2022.…
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MS Amlin launches third special purpose reinsurance vehicle in Asia
Lloyd’s specialty (re)insurer MS Amlin has launched a local special purpose reinsurance vehicle (SPRV) for the third year running. The…
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IP risk management and geopolitics big concern for life sciences
A new survey by WTW finds that life science firms are now concerned about a much wider range of enterprise…
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WTW merges Asia and Australasia operations into one Asia-Pacific region
WTW has combined its Asia and Australasia operations into one Asia-Pacific region from 1 January 2023. As part of the…
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Baron plans to step-down as Parima chairman to focus on Ifrima
Franck Baron, founding chairman of the Pan-Asia Risk & Insurance Management Association (Parima) and now president of the International Federation…
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UnitedHealth Group largest insurer in world by premium, says Best
The largest insurer in the world, based on 2021 net premiums written (NPW), is UnitedHealth Group, according to AM Best’s ranking…
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India to be sixth largest insurance market by 2032, says Swiss Re Institute
The Swiss Re Institute is forecasting that India will be the sixth largest insurance market in the world by 2032.…
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Indian regulator tells carriers to stop using burning cost rates
The Indian insurance regulator, IRDAI, has reportedly written to property insurers and reinsurers asking them to stop including the burning…
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Credendo downgrades eight countries as political instability bites
Belgian state export credit insurance agency Credendo has downgraded eight countries: Bangladesh, Bhutan, Burkina Faso, Djibouti, El Salvador, Haiti, Mongolia…
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Seven non-US cat events topped $1bn in insured losses last year, says CRESTA
Last year saw seven cat events outside of the US generate losses to the insurance industry in excess of $1bn,…