Reih Angeles is Deputy News Editor at (Re)in Asia, steering the desk's breaking coverage of Asia Pacific insurance and reinsurance. Areas of specialty include insurer and life results, reinsurance and catastrophe losses, cyber, and regulatory change across India, Korea, China and Hong Kong.
Overall commercial insurance rates fell 6% for the region, according to Marsh, marking the region’s 11th consecutive quarter of decline amid ample capacity and strong insurer competition.
Marsh data shows that property and financial lines rate declines eased, but casualty and cyber pricing continued to soften as capacity remained abundant.
Brokers will have 12 months from commencement to fully implement transition requirements covering strata, remuneration disclosure, vulnerable clients, record-keeping and renewals.
The questionnaire seeks views on whether the claimed public benefits are sufficient to outweigh the competition concerns that have twice derailed the transaction.
