CRA Newsletter
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Asia
Malaysian Parliament to hold hearing on spiralling health care costs
Surging health insurance premiums in Malaysia have caused public outcry and forced the Public Accounts Committee (PAC) of the country's…
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Asia
Claydon named Sompo chief risk officer in Asia Pacific
Sompo has announced the appointment of Lily Claydon as chief risk officer, Asia Pacific (APAC), effective 3 March 2025. The…
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Asia
China registers strong premium and claims growth
The Chinese insurance sector’s revenue jumped 5.7% last year, mainly thanks to strong savings demand, reports the Yicai Global news…
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Asia
Fitch downgrades Asei Indonesia as regulatory capital plummets
Fitch Ratings Indonesia has downgraded PT Asuransi Asei Indonesia’s (Asei) National Insurer Financial Strength (IFS) Rating to ‘BBB+(idn)’ from ‘A(idn)’.…
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Asia
APAC insurers have ‘limited’ exposure to California fires
Fitch Ratings Sydney says that the recent wildfires in Los Angeles are unlikely to have an impact on the ratings…
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Asia
Supply chains will remain fragile despite recent Red Sea stability: IUMI
Lars Lange, secretary general of the International Union of Marine Insurance (IUMI), says that recently improved stability in the Red Sea…
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Asia
Chinese insurance consumers embrace AI
Chinese insurance consumers show the highest acceptance of AI-driven insurance solutions while Australians are the least receptive to these, according…
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Asia
Sri Lankan insurance sector grows by 16.5%
Data from the Insurance Regulatory Commission of Sri Lanka shows that the country's insurance industry grew by 16.5% year on…
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Asia
Asian risk managers enjoy falling rates across major product lines
Insurance rates in Asia declined 3% in the fourth quarter of 2024 with reductions across all major lines, according to…
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Asia
Aon warns APAC firms face 11.1% rise in medical plan costs
Aon’s recently released 2025 Global Medical Trend Rates Report forecasts a projected 11.1% rise in medical plan costs in the Asia-Pacific region (APAC).…
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Asia
Williams named Aon’s head of Commercial Risk Solutions APAC
Aon has announced the appointment of Terence Williams as head of Commercial Risk Solutions for Asia Pacific, effective April 2025. Williams…
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Asia
Steadfast merges two main Australian brokers
Steadfast Group, the Australasian-based broking and underwriting agency network, has announced the merger of two of its largest brokerages, Network…
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Asia
New Zealand insurers welcome government climate plan
The Insurance Council of New Zealand Te Kahui Inihua o Aotearoa (ICNZ) has welcomed the New Zealand government’s recent commitment…
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Asia
Caution urged as APAC FIs embrace AI
Financial institutions in the APAC region are projected to invest approximately $4.3bn in Generative AI by 2027, with a staggering…
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Asia
IRM and Singapore College of Insurance forge strategic partnership
The Institute of Risk Management (IRM) and the Singapore College of Insurance (SCI) have announced the signing of a Memorandum…
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Asia
Credendo backs Danish/Belgian firms’ expansion into Taiwanese offshore market
Ørsted, the Danish global leader in offshore wind, is currently constructing Greater Changhua 4, a 583 MW offshore wind farm…
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Asia
Hong Kong general insurers generate healthy profit in 2024
The Hong Kong Insurance Authority (IA) has revealed that in the first three-quarters of 2024, the gross and net premiums…
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Asia
Gallagher Bassett bolsters Singapore position via WKW acquisition
Gallagher Bassett (GB), a subsidiary of US broker Arthur J. Gallagher & Co, has acquired leading marine and transit claims…
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Asia
Unleash human potential rather than taking on robots
Dr Nahla Khaddage Bou-Diab, CEO at Lebanese bank AM Bank, has launched a groundbreaking culture risk management framework that is…
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Asia
Hutchinson joins Howden Hong Kong
Howden, the London-based global insurance intermediary group, has announced the appointment of Steve Hutchinson as chief broking officer, Howden Hong…