The Middle East conflict is taking a major toll on global shipping and trade, leading to growing interest in alternative maritime routes, including the Arctic corridor.
Gallagher Re's latest Natural Catastrophe and Climate Report reveals that the total Q1 insured losses worldwide was $20bn.
Sri Lanka is among the worst impacted countries in Asia-Pacific due to the ripple effects of the Middle East crisis, according to a new report by UNDP.
Risks related to the environment, manpower, technology, economics, geopolitics, cargo and supply chain will be very relevant challenges for the maritime business in Asia during 2026, according to new insights by QBE Asia.
The global energy insurance market remains favourable to consumers amid rising losses, social inflation and geopolitical uncertainty, according to the latest Energy Market Review by Willis. The report said abundant capacity, intense competition and continued pressure on premiums have kept the market deeply soft.
The conflict in the Middle East is creating two second-order risks for life insurers in Asia, according to HSBC CEO for Insurance Edward Moncreiffe in an interview with Asia Insurance Review. He noted that while the impact on life insurers is not direct, there are still significant knock-on effects for life insurers.
The current energy crisis has been a powerful catalyst for change across Southeast Asia. Price volatility and supply disruptions have underscored two structural vulnerabilities in the region's energy systems - an over-reliance on imported fossil fuels, and insufficient resilience in fuel procurement and energy infrastructure.
Zurich Insurance has appointed Mr Digbijoy "Digi" Joseph Shukla as Head of Digital, APAC. In his new role, he will play a central role in shaping Zurich's pan APAC customer and digital agenda, with overall leadership responsibility for Zurich Edge, the company's regional digital and embedded insurance business.
Asia-Pacific insurers have relatively little direct exposure to the Middle East, but they are still being affected indirectly, mainly through financial market volatility, according to S&P Global Ratings (S&P).
Oil and gas supply shock triggered by the Middle East conflict has led several Southeast Asian countries to ramp up their coal reserves. A recent report, however, reveals that the region's shift back to coal is likely to increase costs sharply rather than reduce them.