Asia Pacific Specialty Insurance – (Re)in Asia

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Features and key stories

Monte Carlo reflections: from capital formation to capital deployment

Markel puts APAC at the heart of growth plans

Insured flood losses mount in Nepal, but economic damage could run into billions

Singapore GI reinsurance premiums top S$10bn in 2025

Grid access rules push data centres into new insurance risk territory

Nepal flood kills 22 as insurers face hydro claims

Hong Kong skyline with skyscrapers and Victoria Harbour, reflecting Asia's HNW insurance race.

Aerial view of a farm with evenly spaced green crop rows and a circular portrait of a man wearing glasses centered over the field.

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.

Illustration of a bonsai tree in a round concrete pot beneath a glass canopy, with a city skyline and distant mountains in the background.

Gavel resting on a black law book with the Indian flag beside it on a wooden desk, symbolizing Indian law and justice.

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.

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

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

Monte Carlo reflections: from capital formation to capital deployment

Pricing adequacy set the agenda for the US and Europe at RVS 2026, but APAC discussions centred on growth and innovation.

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.

Nepal's insured flood losses mount, but protection gap leaves billions in damage uncovered

Insurers have so far counted US$170m in preliminary claims, but the country may need up to US$5bn, or around 10% of GDP, to rebuild after the disaster.

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.

Grid access rules push data centres into new insurance risk territory

As operators assume greater responsibility for power infrastructure, insurers face new questions around batteries, construction, curtailment and BI coverage.

Fatal Nepal flood leaves insurers facing hydropower claims

At least 177 have died and 826 are unaccounted for, with insurers estimating early claims for hydropower and construction projects at least in the hundreds of millions of rupees.

Asia's HNW insurance race intensifies as insurers compete on scale, service and global reach

As the region's wealthy population expands, insurers are investing in global HNW platforms and bigger underwriting limits while navigating emerging risks from premium financing and portfolio concentra...

Health drives China non-life gains, but life fall tips May premiums into decline

Total industry premium income fell 1.5% to CN¥457.83bn (US$67.6bn), the first annual decline of the year.

India’s crop (re)insurance underwriting enters risk-driven era with loss volatility in focus

Advantage is shifting from insurers competing on price to those combining agricultural expertise, analytics and flexible capital, says Swiss Re's Chandan Verma.

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.

Statutory floor, compliance mindset leave Korean firms underinsured on cyber risks

Voluntary premiums are climbing fast, yet many firms still carry too little cover for their real exposure.

Thin data, soft rates push Asia cyber underwriters further beyond traditional loss history

Panelists at ITC Asia said internal case taxonomies and controls, such as MFA and EDR, offer signals where regional loss records fall short.

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.

India’s first comprehensive MGA rulebook arrives in GIFT City

The dedicated framework allows MGAs to design products and run the policy lifecycle, but restricts them from entering reinsurance or syndicate structures.

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.

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.

AXA bets on one-stop-shop model, specialty expertise to crack Asia's HNW insurance market

AXA Global Private is banking on its group-wide specialty capabilities to carve out a niche in a segment where rival carriers are already fiercely competing for wallet share.

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.