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Asia Pacific

International re/insurers are looking to Asia Pacific markets for growth opportunities


Japan Club downgraded after dipping into catastrophe reserves

Marine mutual spending over $3 on payouts and opex for every $2 coming from premiums, after taking hit from biggest-ever domestic payout and yen depreciation

International Japan

Argenta to cease writing new business in Singapore

The decision follows a strategic review of business written through the Singapore coverholder by Lloyd’s managing agency, Argenta Syndicate Management Limited 


BHSI names Ferrari as head of transactional liability in Australasia

Specialty insurer expands global transactional liability business with senior hire from Liberty Global Transaction Solutions

Australia People moves

McGill hires Cousar to lead Apac fac expansion

Broker hires Aon's David Cousar to drive facultative reinsurance growth in Asia and Australia 

Asia Pacific Reinsurance

Insurers pay out A$2bn for Australian floods

ICA says total insured losses for the flooding in February and March topped A$5bn last month


WTW names Chan as head of Hong Kong broking

The appointment will expand her current role as director of construction for the market

Hong Kong Willis Towers Watson

Catalina appoints CEOs for Asia and the US

Legacy specialist names Loh Wei-Lin and Luann Petrellis as new regional heads

Asia Pacific United States

NSW flooding declared a ‘significant event’ as claims near A$100m

Insurers have received almost 8,500 claims, as heavy rainfall is expected to continue, Insurance Council of Australia says 

Australia Property

Miller acquires Japanese marine broker

Tokyo-based Lead specialises in hull, war risks and protection and indemnity insurance

Japan Broker

Howden makes New Zealand acquisition

Purchase of corporate broker Wallace McLean provides strategic growth platform in the Pacific region

New Zealand Mergers and Acquisitions

Peak Re profits fall 16% on nat cat losses

Hong Kong-based reinsurer sees premiums climb 9% to $2.1bn in 2021, supported by growth in the Americas and Europe, the Middle East and Africa

Asia Pacific Reinsurance

Chubb acquires Cigna's Asia-Pacific A&H and life businesses

Addition of Cigna’s businesses will boost Chubb’s total Asia-Pacific premium volume from around $4bn to $7bn

Asia Pacific Chubb

Australian reinsurance renewal pricing hits 'distress levels'

Concerns about inflation, the threat of global recession coupled with reduced catastrophe capacity made the July 1 renewal season particularly challenging and leading to ‘stresses not seen for several years’, Gallagher Re says

International Australia

Cedants warned of 'true hard market' ahead following tough mid-year renewals

Buyers faced ‘a near-perfect storm’ at the June and July reinsurance renewal season as capacity tightened while cedants sought higher limits

North America Asia Pacific

Japan Club hit by additional reinsurance contribution

Marine mutual sees $32m jump in payouts amid record-breaking claims and considerable rise in coronavirus-related payouts

Japan Marine

Acrisure Re expands Indian fac business with Mahindra partnership

Reinsurance broker inks preferred broker agreement with Mahindra Insurance 

India Broker
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