Asia Pacific Specialty Insurance – (Re)in Asia

Features and key stories

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.

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Shenergy PC China Coal underwrote key liability policies for Chinas deadliest mining accident since 2009

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Indias general insurers open FY2026-27 with 83 premium growth in April

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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.

South Korea's DB Insurance completes US$1.65bn acquisition of Fortegra

Fortegra will operate independently under its existing leadership as the two companies target growth across the US, Europe and Asia.

IAG reaches settlement with Greensill Bank over trade credit insurance claims

Confidential settlement will not have a material impact on financial position or FY2026 results, says IAG.

Myth or Mythos?: Anthropic's caged AI model sharpens cyber risk debate for APAC insurers

Insurers in APAC review cyber exposure, policy terms and emerging AI liabilities as advanced models prompt regulatory and underwriting scrutiny.

Shenergy P&C, China Coal hold key liability covers for China’s deadliest coal mine accident since 2009

Shenergy P&C, which underwrote the mine's work safety liability, has prepared an advance claims fund, while more than 50 insurers have activated fast-track processes to cover the policies of affected...

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.

India's general insurers open FY2026-27 with 8.3% premium growth in April

Industry-wide premiums climbed to a record ₹364.18bn (US$3.82bn), supported by continued strong performances from Tata AIG and Care Health.

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.

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.

HK general insurers' underwriting profits soar 175% in 2025 as AIA leads health charge, P&I clubs drive offshore gains

The impact of the Wang Fuk Court fire offset some of the sector’s growth, with property damage profits falling sharply last year.