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Mar 2022



Asia: 2021 sees below-average CAT-related economic losses of $78bn

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.

Pacific: Region's insurance pricing growth lower than global average in 4Q2021 for the first time since 2016

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.

M&A: HSBC completes acquisition of AXA Singapore

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.


SMEs shelve international expansion plans

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.

Taiwan: Insurance sector's risk exposure to Russia estimated at $5bn

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).