• Generali led APAC insurance M&A in Q1 2024, after acquiring 51% stake in Generali China Insurance for $112m, according to S&P data.

• Brokerages accounted for 15 M&A deals, with four deals recorded for P&C carriers and two for Life and Health.

• Southeast Asia saw the most transaction volume in Q1 2024.

With 30 years industry experience, Choi will provide strategic leadership and oversee growth at the new branch.

• The city’s life insurance sector reached S$1.02bn in total weighted premiums in Q1 2024, its strongest performance since Q1 2020.

• The growth of single premium policies was the largest between Q1 2023 and Q1 2024, with a 46.4% increase in weighted premiums.

• The industry recorded $33.8 billion in total sum assured during this period, a 11.9% boost compared to the same period in 2023.

• China’s motor insurance industry is projected to reach US$158.9bn by 2028, growing at a CAGR of 5.4%.

• Rising vehicle sales and demand for new energy vehicles (NEVs) are key growth drivers.

• Inflation and increased road accidents will lead to higher claims, which is likely to prompt insurers to reassess risk exposure.

Martin He (left) joins as Marine Underwriter, George Ke (middle) as PFR & Cyber Underwriter, while Lei Wang (right) appointed Manager of Model Analytics & Reporting.

Gonzalez, CEO of Reinsurance China, will lead Swiss Re CorSo from 1 July, succeeding Andreas Berger who is set to take on the position of Group CEO.