Joanne Madrid is a reporter at (Re)in Asia, known for data features and analysis on how technology and climate are reshaping the region's insurance markets. Areas of specialty include insurtech and AI adoption, cyber and climate risk, and the premium and results data moving markets including India, Korea and Hong Kong.
Half of Australian respondents and 47% in Singapore reported higher cyber insurance costs or lost coverage following ransomware attacks, exceeding the global average of 42%.
Companies should map AI use, document controls and test incident plans as automated systems create exposures across cyber, liability and business interruption.
Industry experts expect future asset-intensive reinsurance (AIR) growth to hinge on access to third-party capacity, suitable matching assets and demonstrable risk transfer.
Fire and ISR, the largest unauthorised foreign insurer (UFI) class, led the decline with new or renewed premiums invoiced down 27.3%, based on APRA data.
Insurers see prediction markets as a source of data and a possible hedging tool rather than a rival, but regulation, settlement and data integrity remain obstacles in APAC.
Alliance will bring together commercial- and personal-lines capabilities for agents, insurers and embedded-distribution partners across the US, Europe and Asia.
