The APAC region, particularly in South Korea and Japan, experienced significant wildfires, floods and earthquakes in the first quarter of 2025 leading to billions of dollars in economic and insured losses, according to an Aon report.
The nursing-care insurance policyholders in Japan may not receive the care they need due to acute shortage of nursing care service providers in the country.
Peak Re has announced the successful issuance of the second CAT bond, via Black Kite Re, a special purpose insurer (SPI) in Hong Kong. Building on the success of its inaugural 2022 issuance, this transaction secures $50m in retrocessional reinsurance protection, extending coverage in Japan to earthquake and typhoon risks while introducing parametric earthquake protection for China and India.
According to Prudential, in 1Q2025, new business profit on a traditional embedded value went up 12% to $608m, annual premium equivalent (APE) sales went up 4% to $1.7bn and new the new business margin increased by two percentage points.
When representatives from the Japanese Financial Services Agency (FSA) paid Thailand's insurance regulator, the Office of the Insurance Commission (OIC) a courtesy visit, they engaged in discussions on supervisory approaches in the insurance sector.
Family members back home of foreign workers employed in Japan will be provided health insurance covers by the employer company.
Japan is the top-ranked country in Asia, based on Swiss Re's metrics for availability, accessibility and affordability of health insurance in Asia, according to the reinsurer's head of life and health reinsurance APAC excluding China, Ms Daisy Ning.
The Japanese government has initiated a survey on public health insurance usage by foreign residents living in the country. Some lawmakers had raised concerns that people may come in from overseas to take advantage of the support for expensive medical treatment.
Japanese insurance companies are expanding overseas and making acquisitions primarily because the domestic market has matured, with limited growth potential due to a shrinking and aging population, according to the latest report by AM Best.
There is an 80% probability of a magnitude 8 to 9 earthquake along a tremulous seabed zone known as the Nankai Trough, according to a report issued by the Japanese government.