Asia Pacific Marine and Cargo Insurance

Features and key stories

APAC facultative demand climbs, but margins will be earned on terms

India's maritime insurance pool hits 3,000 cargo war policies as war-risk premiums fall 35-40%

ISO-compliant bunker fuel raises stakes for marine insurance claims

Hong Kong targets captives, ILS and specialty insurance growth under first five-year plan

BRICS backs reinsurance capacity talks, India offers GIFT City for risk lab

Singapore direct GI premiums rebound 11.9% in Q2

Markel puts APAC at the heart of growth plans

Singapore GI reinsurance premiums top S$10bn in 2025

Port scene at sunset with red gantry cranes, stacked shipping containers, and a container ship; mountains in the distance.

Sunset over the Mumbai-Ahmedabad bullet train bridge in India.

Large cargo ship navigating the Strait of Hormuz with containers onboard.

Traditional Japanese street lined with dark wooden shops, hanging signboards, and warm lanterns, with mountains in the background

Large cargo ship with blue upper hull and red bottom balanced on a thick rope, flags of Iran and the United States at each end, conveying geopolitical tension.

singapore-direct-gi-remains-flat-in-q1-as-domestic-claims-ease-but-offshore-earnings-fall

india-gi-premiums-reach-new-heights-as-health-cargo-and-personal-accident-offset-march-fire-slump

south-korean-insurers-to-jointly-underwrite-war-risk-cover-for-ships-in-strait-of-hormuz

australian-high-court-rejects-shipowner-bid-to-limit-liability-in-wreck-removal-claims

APAC facultative demand climbs, but margins will be earned on terms

Facultative is evolving from an overflow tool into a strategic one, but with capacity plentiful, reinsurers are being asked to do more for less.

India's maritime insurance pool hits 3,000 cargo war policies as war-risk premiums fall 35-40%

The sovereign-backed pool has also written 92 hull war-risk and three P&I policies since its May launch.

ISO-compliant bunker fuel raises stakes for marine insurance claims

Growing concerns over compliant fuels linked to engine damage are prompting calls for enhanced testing and closer scrutiny of bunker quality throughout the supply chain.

Hong Kong targets captives, ILS and specialty insurance growth under first five-year plan

From expanding Hong Kong's influence across the global maritime value chain to developing specialty insurance products for mainland companies going global, the plan outlines an ambitious growth agenda...

BRICS backs reinsurance capacity talks, India offers GIFT City for risk lab

The proposed resilience centre would build shared risk models, though the declaration commits no capital.

Singapore direct GI premiums rebound 11.9% in Q2

Offshore property and engineering drove most of the market's premium growth, but underwriting profit fell 10.9%.

Markel puts APAC at the heart of growth plans

Markel APAC head Sucheng Chang aims to nearly double the regional book within five years, with recent expansion setting the pace and new opportunities in view.

Singapore GI reinsurance premiums top S$10bn in 2025

Offshore business drove the 3.7% premium increase, but net claims incurred rose 11.8% and underwriting profit fell to its lowest level since 2021.

Hong Kong GI direct premiums rise 4.2% in Q1 as underwriting profit more than doubles

Pecuniary loss, a class dominated by mortgage guarantee business, delivered around 63% of the onshore market's undiscounted underwriting result, while offshore ships premiums rebounded amid war-risk r...

India's GI premiums accelerate 16% in June as health, motor and PA expand

Health, motor and personal accident insurance powered the industry's fastest YoY growth of 2026, while fire premiums continued to decline for a sixth straight month.

Hormuz war-risk rates climb again after brief easing in June

Renewed strikes on vessels have lifted Hormuz war-risk rates to around 2% to 4% of hull value, though they remain below March's highs.

Japan general insurers' underwriting performance improves as fire claims fall in FY2025

Fire insurance led Japan's non-life market improvement in FY2025, as claims fell sharply despite continued premium growth across major commercial lines.

Lloyd's Asia premiums flat in 2025 after four years of growth

A first fall in offshore business since 2020 offset continued onshore growth, while inward reinsurance set a new high.

India's GI premiums grow 9% in May as fire weakness persists

A fifth straight decline in fire premiums was offset by growth in health and motor, alongside sharp gains in aviation, marine and personal accident.

Korea non-life insurers post 4.9% Q1 premium growth, but profits fall on higher claims, weaker investments

Claims and investment pressure dragged net income down 10.7% year-on-year, even as long-term non-life premiums held firm and GI growth accelerated.

Some insurers ease Hormuz rates on US-Iran deal hopes, but pre-war pricing hinges on stability

Early cuts of up to 40% have surfaced, though pricing stays patchy and a history of broken ceasefires leaves many insurers reluctant to move fast.

Singapore GI market flat in Q1 2026 as claims fall and underwriting results hold steady

Direct premiums slipped 0.4%, with onshore credit, aviation hull leading premium growth, while offshore property and cargo dragged.

India GI premiums reach new heights as health, cargo and personal accident offset April fire slump

Several major lines helped contribute to record monthly premiums, cushioning a sharp pullback in fire, where coverage remains thin.

Korea launches marine war-risk pool for ships in the Strait of Hormuz

The KRW300bn (US$197.5m) facility aims to ease costs and secure cover for smaller Korean shipping firms exposed to heightened Middle East risks.

Standard Club faces higher exposure after Australia court rejects liability cap on wreck claims

Australia's High Court ruled that wreck removal claims excluded under Australia's maritime reservations cannot be capped by reclassifying them as property damage.