The Indian Ocean is expected to experience accelerated surface warming of 1.4 degrees Celsius to 3 degrees Celsius between 2020 and 2100, which will push it into a near-permanent heatwave state. It will also intensify cyclones, affect the monsoon and lead to a rise in sea levels according to a new study.
In Asia, one in three business leaders reported that political risk was the biggest threat to their business this year.
One of the world's leading reinsurers, Hannover Re, posted gross reinsurance revenue in the Australasia region in 2023 of EUR4.57bn ($4.92bn), 6.4% lower than in 2023, according to the reinsurer's 2023 Annual Report.
Insurance industry doyen and a founding editor of Asia Insurance Review Reynaldo de Dios passed away on 5 May 2024. He was 96 and had played an integral role in the insurance sector for 75 years.
Economies in developing Asia and the Pacific have an opportunity to reap a "silver dividend" in the form of additional productivity from older people, which could boost gross domestic product in the region by 0.9% on average.
Chubb has appointed Ms Kate Burke as head of international personal lines (IPL), APAC. In her new role, she will be responsible for growing the auto, residential, specialty and high net worth lines of business across Chubb's APAC operations.
Insurers should focus on the main risks as they adapt to the rapidly changing technologies and regulatory landscape around electric vehicles, according to Mr Ichiro Seino of Marsh Japan.
Climate change could see malaria cases in countries previously free of the disease, bringing new health risks for workers travelling overseas according to health and security firm International SOS.
High inflation is a primary macroeconomic driver of cargo crime patterns and the rise in food and beverages as a stolen commodity is one such indicator according to annual Cargo Theft Report 2023.
Insurance rates in the first quarter of 2024 in Asia declined 2% after being flat for the three prior quarters, according to the "Global Insurance Market Index" published by the world's biggest insurance broking group Marsh.