While global losses were below the 10-year average last year, APAC's persistent protection gap means only about US$9bn of its US$73bn losses were insured.
The facility, backed by over 10 (re)insurers and Lloyd’s syndicates, aims to streamline insurance for large-scale AI projects by combining multiple coverages under one, modular contract.
Generali Central Life's first year premiums surged 241% year-on-year, with newer and mid-sized insurers also posting triple-digit gains amid a strong November.
Ki Hyung Jo has joined as Korea market lead, with HDI to offer local clients access to insurer's existing product range and new specialty solutions, such as cover for K-pop events.
