One battle after another
Taiwan
Taiwan successfully undergoes regulatory 'extreme makeover'
Life industry bounces back from a period of uncertainty
Taiwan reinsurance at inflection point on ICS shift
Australia
Nat CAT in Australia not a 'surprise', but do reflect gaps in readiness
Performance-based designs vital to managing fire risk
Australian insurers face a new regulatory reality
Annuities market poised for growth as retirement focus shifts
APAC life insurance must meet high-net-worth wealth portfolios
Rethinking protection for a longevity society
Insurers face rising reputational risks amid critical illness protection gap
Age, wealth, globalisation: the three main drivers of life insurance growth in Asia
Using life insurance as a strategic wealth asset
Ageing Asia's demographic trends change the course of life insurers
From risk mitigation to resilient healthcare systems
Building for the long term
Singapore's IP rider shift may be balanced with complementary L&H plans
Philippine life insurance market sees steady growth in penetration and product evolution
Sri Lanka: Health insurers must evolve from claims payer to health partner
Indian health insurance needs a booster dose
Asia's health insurance sector at an inflection point
General
Takaful appeals to both Muslim and non-Muslim travel segments
Sri Lanka will weather this storm, too
View from India: Parametric insurance can make India more resilient
AI is the key to closing Asia's protection gap
Take the risk of moving through the fog
Japan's regulatory evolution: Three decades of coverage by AIR (1996-2022)
Asian
Asia: Back to coal will raise costs and risks for Southeast Asia
Indonesia: Regulator reports on industry's growth in monthly update
Malaysia: 2026 LIAM priorities will include balancing healthcare access and affordability
Philippines: Insurance Commission boosts compliance drive as fines surge nearly 90% in 2025
Thailand: Government pushes ahead with mandatory tourist insurance plan amid rising unpaid medical bills
Products and alliances
People on the move
We recently sat down with Guy Carpenter’s Head of Retro, Global Specialities, Asia Pacific, Ben Dunnett. We had a frank discussion about the current state of the retrocession market and what it might look like in the coming years.
Asia Insurance Review sat down with Guy Carpenter CEO, Asia Pacific, Tony Gallagher, to get his thoughts on the market dynamics in the APAC region, the most pressing risks facing the industry, the April renewals, and the impact of evolving regulations.
Three severe hail events in the past 3 years have shined a spotlight on this risk in Japan. Historically overshadowed by typhoons and earthquakes, hailstorms can generate insured losses of billions of dollars. Insurers are now seeking ways to lower hail risks in Japan through the development of high-resolution hail mapping technology and mitigation measures to safeguard portfolios against future hail events.
We talk to Tony Gallagher CEO, Asia Pacific region for Guy Carpenter about the 1/1 renewals and what to expect at the April renewals, emerging risk in 2024 and which business lines have the most scope in the year ahead.
The global nature of the reinsurance industry has enabled the diversification of risk away from concentration in specific regions to the larger global market.
However, record catastrophe losses, inflation stemming from increased interest rates, geopolitical tensions and heightened climate risk are putting operating pressures on insurers and reinsurers. The increasing frequency of higher- magnitude natural disasters against the backdrop of a bearish market with rising interest rates sets up a perfect storm for reinsurers to harden their pricing to reflect a more prudent risk appetite.
In the next video of the series, we talk to Guy Carpenter Head of Structured Solutions, Asia Pacific Hussain Ahmad, and Partner with OIiver Wyman Jing Wei Jia about market trends and developments, business planning for insurers, the evolving market and optimising capital.
Macroeconomic Environment The investment environment is currently in turmoil. High inflation in many countries, driven by both supply-side and demand-side factors, has compelled central banks to raise interest rates in response. Interest rate hikes then flow directly into asset valuations. Additionally, recessionary expectations, the banking crisis and geopolitical issues are currently creating havoc in asset markets.
The next video in the series looks head at Guy Carpenter’s plans for the year 2023.
We talk to Guy Carpenter CEO, Asia Pacific Tony Gallagher about the company’s plans for 2023, Asian markets to look out for, as well as potential risks.
The next video in the series looks at the general impact of inflation - and how inflation is panning out in Asia Pacific. We talk to Guy Carpenter vice president, strategic advisory Asia Pacific Philip Doyle about how insurers should respond to inflation right now.
The insurance protection gap is generally defined as the difference between total and insured loss costs. Globally, 2021 total losses from natural disasters were estimated to equal approximately USD 280 billion, of which approximately USD 120 billion, or 43%, were covered by (re)insurance.(1) This gap was smaller than many previous years because a higher proportion of losses occurred in the US, which has one of the most developed insurance markets in the world, with high penetration.
Secondary perils represent a complex and nuanced challenge for the (re) insurance industry. In essence, these natural perils are “known, unknowns.” They are known to pose a risk, but our industry does not always have a full understanding of their potential impacts.
The next video in the series looks at how ESG is playing out in Australia and the opportunities and challenges that this will bring to the insurance industry.
The next video in the series looks at defining secondary perils, insuring against them, the importance of modelling – and the role of reinsurance in closing the protection gap.
The next video in the series looks at global systemic risks, climate risk, net zero planning and risk as it relates to ESG.
We talk to four leading risk-industry professionals - Mercer president of Asia, Middle East and Africa Renee McGowan, Guy Carpenter CEO of Asia Pacific Tony Gallagher, Oliver Wyman partner – head of APR public policy Jacob Hook and Marsh Asia head David Jacob.
The next video in the series looks at the impact of recent cyber events in Asia.
Guy Carpenter managing director, cyber centre of excellence leader Siobhan O'Brien talks to Asia Insurance Review about what insurers can do to mitigate the impact of these cyber events.
The next video in the series looks at the impacts of recent economic and regulatory changes on life and health insurance in Asia Pacific.
The next video in the series looks at the changing nature of risk management.
China Pacific Property Insurance Company chief actuary Chen Sen talks to Asia Insurance Review about why risk management is changing and what part technology plays in this – and how corporates can prepare for the change.
The first video in the series looks at the changing nature of risk.