Large-risk and flood claims turned the fire book loss-making, while a ₹7.15bn (US$75m) motor third-party provision tied to a court ruling added to underwriting pressure.
The association’s handbook sets out a five-stage assessment for underwriting, claims and risk teams, covering third-party dependencies and portfolio concentration.
The regulator is pushing insurers to finance infrastructure as well as insure it, while a planned US$200m data centre insurance facility aims to anchor regional risk capacity in Singapore.
Insurers are increasingly looking to invest in growth initiatives, while reinsurers are differentiating through expertise and solutions rather than capacity alone, says Hitesh Kotak, chief executive for...
A favourable product mix and stronger insurance earnings offset investment-related pressures on profitability, even as third-quarter net profit fell 72% year on year.
The executive has more than 30 years of experience in the industry spanning marine insurance, global insurance programmes, risk management, and multinational client servicing.
The hub has succeeded in attracting capital and reinsurers; now the challenge lies in developing the expertise needed to underwrite complex risks locally.
Marsh Re’s new Japan and Pacific heads, Andrew Hare and Justin Ward, say capital is reshaping the reinsurance conversation, from Japan’s solvency regime to growing interest in alternative capital in Australia...
