Magazine Table of Contents
After three consecutive years (2018-2020) of economic losses topping $100bn from Nat CAT events, the toll in Asia Pacific (APAC) fell to $78bn in 2021. This was 31% below the 2000-2020 average ($113bn) on an inflation-adjusted basis, says Aon, a global professional services firm that provides risk, reinsurance, retirement, and health solutions.
Insurance pricing in the Pacific region, dominated by Australia, increased by 13% in the last quarter of 2021, says leading global insurance broker Marsh in its Global Insurance Market Index Q4 2021” report.
HSBC Insurance (Asia Pacific) has completed the acquisition of 100% of the issued share capital of AXA Singapore for a consideration of $529m, subject to closing adjustments.
Small and medium enterprises (SMEs) in Singapore continue to feel the effects from COVID-19 and a majority are still leaving their international expansion plans on the backburner for the next 12 to 24 months according to the seventh edition of QBE Insurance’s annual research survey of Singapore SMEs.
The Insurance Bureau of the Financial Supervisory Commission (FSC) has revealed that although Taiwan has no risk exposure in insurance in Ukraine, the risk exposure in Russia is as high as NT$147bn ($5.3bn).