News

singapore-reinsurance-corporation-secures-gift-city-reinsurance-licence

June 14 2025

Entry into GIFT City follows recent moves by other international industry players.

taiwan-fsc-introduces-interim-relief-measures-for-life-insurers-amid-market-volatility

FSC introduces interim relief measures for Taiwanese life insurers amid market volatility

June 13 2025

Under the interim measures, life insurers can use a six-month average exchange rate to calculate equity and risk capital for specific financial assets.

suncorp-launches-generative-ai-tool-to-streamline-claims-processing

Suncorp launches gen AI tool to streamline claims processing

June 13 2025

Australian insurer says the tool cuts processing time by five to 30 minutes per claim.

giaj-reports-progress-in-addressing-conduct-risks-plaguing-japans-insurance-industry

GIAJ launches new initiative to help address conduct risks plaguing Japan's insurance industry

June 13 2025

Japan’s insurance industry steps up reforms with new guidelines and a council to support third-party reviews of agency practices.

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Markel strengthens insurtech sector offering with new InsurtechRisk+ policy

June 13 2025

Policy provides coverage limits up to £10m (US$13.6m) for insurtechs based in Australia, Asia, Canada, and Europe.

air-india-flight-ai171-crashes-in-ahmedabad-with-242-on-board

Air India flight crashes with 242 on board; early insurance loss estimates at US$120m-US$150m

June 12 2025

Tata AIG-led insurance consortium and global reinsurers face significant claims after Air India flight AI171 crashed, leaving only one survivor.

insurance-losses-from-cyclone-alfred-total-a2-25bn-says-perils

PERILS lowers Cyclone Alfred loss estimate to A$2.25bn for Australian insurers

June 12 2025

The industry data provider's initial loss estimate has been revised downward by 12%.

qbe-enters-us1-6bn-reserve-deal-with-riverstone-and-enstar-to-de-risk-exposure

QBE Asia partners with IFC to promote property insurance resilience in Asia Pacific

June 12 2025

QBE becomes the first insurer to join the BRI program.

ACCC clears Allianz Australia’s acquisition of RAA insurance business

June 12 2025

The watchdog says the deal isn’t expected to reduce competition in the market.

War risk insurers liable for jets seized in Russia UK High Court rules

War risk insurers liable for jets stranded in Russia, UK High Court rules

June 12 2025

Global (re)insurers are facing billions in payouts, with the judgment likely to have wide-ranging implications.

korea-lowers-capital-adequacy-threshold-to-130

Korea lowers recommended capital adequacy ratio to 130%

June 12 2025

The FSC did not announce changes to the mandatory core capital requirement but said discussions will follow in the second half of the year.

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Zurich Takaful Malaysia launches new family takaful product to target savings and protection demands

June 11 2025

Launch follows Bank Negara Malaysia data showing a notable drop in active savers and rising financial concerns.

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