Asia Pacific Reinsurance – (Re)in Asia

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Features and key stories

Sydney skyline and Bondi Beach during a sunny day in Australia.

Aerial view of a modern city with a twin-towered building by the water and a circular stadium in the foreground, under a clear blue sky.

Nighttime city skyline with densely packed buildings and bright neon lights, a tall blue-lit tower visible in the distance.

Sunset view of Sydney Harbour: the Opera House with the Harbour Bridge in the background over calm water, framed by green foliage on the sides.

City street at dusk with light trails from moving cars and a lit Tokyo Tower in the distance.

Harbor scene with yachts docked along a waterfront and futuristic glass buildings under a blue sky.

Wide city skyline with tall glass skyscrapers, blue sky, and a tree-lined plaza in the foreground. Central modern buildings flank a historic red-roofed structure to the right.

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Australia cyclone pool expands as insurer participation rises in home and SME

Higher insured values pushed up home and strata premiums, while cyclone risk pricing remained broadly stable across the pool.

China publishes new measures to accelerate build-out of Shanghai reinsurance centre

The eight-point plan seeks to lift trading volumes, strengthen reinsurers' capital, and bring more international capacity into China's market.

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.

RGA signs block coinsurance deals with Sumitomo Life and Anshin Life in Japan

Sumitomo Life turns to reinsurance for the first time as insurers across Asia move in-force blocks off their books.

APRA finalises reinsurance reforms easing access to alternative risk-transfer solutions

The reforms, set to take effect from 1 January 2027, expand the role of Appointed Actuaries and streamline regulatory approvals.

Japan's FSA finalises tighter rules on asset-intensive reinsurance

Insurers face broader expectations on stress testing, collateral quality, recapture planning and reinsurer due diligence under the revised guidelines, which apply from July 1.

Australia GI rebounds in Q1 as claims ease, property losses moderate

Industry underwriting profits jumped 34% year-on-year as property lines recovered from catastrophe losses, while cyber led premium growth and motor remained profitable.

Pacific Life Re inks third asset-intensive reinsurance deal with Tokio Marine & Nichido Life

Third transaction with Japanese life insurer underscores Pacific Life Re’s growing role in the country’s AIR market.

GIFT City insurance GWP doubles in FY2026 as reinsurers expand fourfold

Health and personal accident drove premium growth, as (re)insurers overtook intermediaries as the main source of premiums transacted in the hub.

Resolution Life signs three new asset-intensive reinsurance deals across Hong Kong, Japan

Reinsurer has completed two in-force reinsurance deals covering participating whole-of-life portfolios in Hong Kong and one reinsurance agreement in Japan.

OIC cuts Thai insurance growth outlook as Middle East conflict raises costs

The regulator pointed to higher claims costs, tighter reinsurance appetite and pressure on trade-exposed lines as external volatility feeds into the sector.

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.

HK reinsurance segment swings to 2025 underwriting loss

Provisional data shows Hong Kong’s reinsurance inward premiums rose 9.41% in 2025 despite the reversal in underwriting results.

Japan’s reinsurance market enters a spikier, more volatile phase

Deepening competition has brought faster, more pronounced underwriting cycles.

MNRB to acquire remaining 80% of Labuan Re for US$100m

The deal will lift the group's ownership of Labuan Re to 100% and is slated to be completed by the fourth quarter of 2026.

India rolls out war risk cover under US$1.5bn Bharat Maritime Insurance Pool

Three policies have been issued to Hoger Offshore and Marine, Vedanta Sterlite Copper and Balrampur Chini Mills, indicating early uptake by industrial and shipping‑linked corporates.

Hong Kong IA finalises RBC amendments to incentivise infrastructure investment

Following feedback from 42 respondents, the Insurance Authority has finalised amendments to the RBC regime, with additional guidance to be issued ahead of implementation.

Australia cyclone pool average premiums rise in Q4 as strata jumps 11%

Annual premiums rose 4.4% year-on-year as Cyclone Alfred pushed incurred insurance losses to A$1.41bn.

Japan FSA proposes tighter checks on life reinsurance deals

The draft guidance proposes stress tests for asset-intensive reinsurance deals, including recapture events and multiple reinsurer failures, to assess impacts on solvency and reserves.

Stronger, steadier ILS market sets stage for Asia growth, but structural gaps remain

Record issuance and steady returns are drawing broader investor interest, but stronger data, transparency, ratings and regulatory confidence remain critical for Asia to scale participation.