Coface has appointed Mr James Yau as Head of Commercial, Southeast Asia (SEA) and Head of Mid-Market, APAC.
On Coral Triangle Day, the Insure Our Future coalition said most of the world's largest insurers and reinsurers have not ruled out providing support for liquefied natural gas (LNG) expansion in the Coral Triangle, despite concerns over the environmental risks posed by fossil fuel development in the region.
MNRB Holdings' proposed acquisition of the remaining 80% equity interest in Labuan Re marks a significant strategic step in strengthening the Group's international reinsurance platform, the holding company said in a statement.
SEADRIF Insurance Company and the Food and Agriculture Organization of the United Nations (FAO) have launched an anticipatory drought insurance pilot in the Lao People's Democratic Republic (Lao PDR). This marks the first time a Southeast Asian government has secured pre-arranged financing designed to activate ahead of drought impacts.
Philippine President Ferdinand Marcos Jr called on ASEAN bloc members to ensure regional energy security and resilience, as he opened the 48th ASEAN Summit Retreat in Cebu on 8 May.
Embedded insurance provider, EIP, has announced its new partnership with Insurtech Third Party Administrator, Nexacore, to deliver end-to-end device protection and extended warranty solutions across Southeast Asia (SEA).
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.
The Southeast Asia Disaster Risk Insurance Facility (SEADRIF) Insurance Company and the ASEAN Coordinating Centre for Humanitarian Assistance on disaster management (AHA Centre) have signed a Memorandum of Intent (MoI) for a strategic collaboration to strengthen disaster impact reporting and support the development of scalable risk financing solutions.
Markel Insurance, has expanded its Warranty and Indemnity (W&I) insurance capabilities into the Asia Pacific region, with two new underwriting appointments in Hong Kong and India.