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Emerging risks | Growth Opportunities | APAC Insurance

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Monday, August 31, 2026

Editor’s choice

asic-orders-pc-insurers-to-repay-au815m-to-5-6-million-consumers-due-to-systemic-pricing-failures
Australian P&C insurers to repay AU$815m (US$551m) due to systemic pricing failures
June 23 2023
ASIC says IAG is expected to pay AU$447.2m, RACQ AU$222m, and QBE AU$90.4m due to a failure to deliver on pricing promises.
eight-chinese-insurers-receive-collective-fine-of-13m-yuan-us1-65m-for-price-fixing-student-insurance
Eight Chinese insurers receive collective fine of 11.8m yuan (US$1.65m) for price-fixing student insurance
June 22 2023
China’s State Administration for Market Regulation ruled the insurers created a monopoly to control the market and fix prices.
wirecard-scandal-swiss-life-fined-sg200000-us149000-for-anti-money-laundering-and-counter-terrorist-financing-breaches
Wirecard Scandal: Swiss Life fined SG$200,000 (US$149,000) for inadequate AML laundering and CTF controls
June 22 2023
The Monetary Authority of Singapore fined Swiss Life and three banks for inadequate anti-money laundering and counter-terrorist financing controls, but found no evidence of willful misconduct.
icnz-over-nz1bn-us621m-paid-out-for-auckland-anniversary-weekend-floods-and-cyclone-gabrielle-so-far
ICNZ: Over NZ$1bn (US$621m) paid out so far for Cyclone Gabrielle and Auckland Anniversary Weekend Floods
June 22 2023
While 35% of claims have been settled, the Insurance Council of New Zealand's Chief Executive said there's still a long road ahead.
ojks-proposed-capital-requirements-increase-likely-to-lead-to-increased-ma-and-consolidation-of-indonesian-insurance-sector
OJK's proposed capital requirements to spur increased M&A and consolidation in Indonesia
June 21 2023
66 Indonesian (re)insurers would fail to meet increased requirements and a further 33 would struggle, driving M&A activity.
iags-firemark-ventures-launches-climatetech-center-to-help-measure-and-mitigate-climate-change
IAG's Firemark Ventures launches ClimateTech Center to help measure and mitigate climate change
June 20 2023
Firemark has joined up with Jerusalem Venture Partners (JVP) and Margalit Startup City to discover and develop startups and technologies which measure and mitigate climate impacts.
japans-fsa-orders-major-japanese-pc-insurers-to-report-on-alleged-cartel-formation
FSA investigates alleged cartel formed by major Japanese P&C Insurers
June 20 2023
Reports claim that Tokio Marine, Sompo, Mitsui Sumitomo, and Aioi Nissay Dowa conspired to offer fire insurance premiums which were significantly different from past policies.
cfo-phil-witherington-to-become-president-and-ceo-of-manulife-asia
Phil Witherington to become President and CEO of Manulife Asia
June 16 2023
Witherington has been with Manulife since 2014 and is being promoted from his current role as CFO.
fitch-affirms-lloyds-and-lloyds-china-ifs-rating-at-aa-despite-2022-loss-and-environmental-exposure
Fitch affirms Lloyd’s and Lloyd's China IFS rating at 'AA-' despite US$1bn loss and Nat Cat exposure
June 15 2023
The (re)insurance marketplace recorded a 91.9% combined ratio in 2022 but was hit by valuation losses in its bond portfolio.
customer-data-likely-stolen-as-a-cyber-attack-hits-two-prudential-companies-in-malaysia-1
Customer data likely stolen as global cyber attack hits two Prudential companies in Malaysia
June 14 2023
The attack was part of the global MOVEit data-theft attack and is likely to have led to the theft of agent and customer data.
howden-helps-broker-insurance-deal-to-mitigate-one-of-the-largest-ever-environmental-disasters
Howden brokers (re)insurance deal to help avert environmental marine disaster
June 14 2023
Specialty (re)insurance coverage, involving 13 underwriters, has enabled a salvage operation for The FSO Safer which holds 1.14 million barrels of light crude and has been deteriorating since 2015.
Securities-Appellate-Tribunal-pauses-IRDAIs-order-to-transfer-Sahara-India-Lifes-200000-policies-to-SBI
Securities Appellate Tribunal pauses IRDAI's order to transfer Sahara India Life's 200,000 policies to SBI
June 14 2023
The SAT issued a stay order on IRDAI's direction, saying that there was no urgency and that the regulator's decision was made ex parte.
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