Gallagher Re report shows APAC GWP reached US$1.7 trillion in 2022 — dominated by motor, but low overall insurance penetration highlights region's growth potential.
Formerly FPG Insurance, the P&C insurer is expanding its presence in the commercial lines segment and will benefit from the expertise of Starr Group — who became a majority owner in December 2022.
The strategic partnership underscores Miller's growth ambitions for energy, reinsurance, and the Asia region.
Hiscox is divesting from its Singapore and Thailand motor insurance business, selling to Roojai Group's parent company, Ignite Thailand Holdings.
The rating downgrade comes in the midst of Thailand's sole life reinsurer pivoting to expand its health reinsurance business.
Southeast Asia's young population and varying levels of public healthcare pose challenges and opportunities to private insurers.
The Japanese insurer is understood to be targeting large South Korean insurers interested in expansion, though reports in Malaysia suggest other Japanese insurers might be inte
Thai Re recorded strong growth post-COVID-19, driven by hard market conditions.
Ratings still excellent, but outlook downgraded due to negative due to balance sheet strength and volatility concerns.
Allianz’s CEO says acquisition of Aetna’s Thai arm gives the insurer scale to meet increased customer appetite for health cover.