Typhoon Champi shuts down Taiwan as winds reach 191 kph
Typhoon Champi forces widespread closures in Taiwan, leaving one dead, 163 injured and thousands evacuated as authorities warn of flooding and prolonged winds
⛩️ Asia-Pacific Insurance News
Latest insurance news from Asia-Pacific insurers and regulators. Explore auto, home, life, P&C, pet and health insurance, including insurance rates, insights, trends, and breaking insurance news from APAC region.
Shinhan Financial Group to acquire 77% of Lotte Non-Life Insurance for $517 mn
Shinhan Financial will acquire a 77% stake in Lotte Non-Life Insurance for $517.3 mn, strengthening its South Korean insurance business
Tibet earthquake: Aftershocks, landslides and extreme weather complicate rescue efforts
A magnitude-7 earthquake in Tibet has killed 16 people, injured 76 and destroyed hundreds of homes, prompting mass evacuations and emergency rescue operations
Magnitude 6.9 earthquake strikes Vanuatu, tsunami warning lifted
A magnitude 6.9 earthquake struck off Vanuatu on October 24, 2026, followed by a 6.3 aftershock. Authorities later cancelled a tsunami warning
Severe thunderstorms and flooding hit Australia as major storm system spreads
Severe thunderstorms sweep across Australia, bringing 100 km/h winds, flooding, power outages and giant hail risks across NSW, Queensland and Victoria
Aon forecasts Asia-Pacific medical costs to rise 9.7% in 2027
Aon’s 2027 report forecasts 9.7% medical cost growth across Asia-Pacific, down from 11.3% in 2026, as employers face continued health insurance cost pressures
Japan’s FSA suspends Prudential life insurers over ¥6.1 bn ($19.6 mn) employee fraud scandal
Japan’s FSA has suspended new business at Prudential Life and Gibraltar Life until January 2027 following employee fraud, with reported victim losses exceeding ¥6.1 bn
Fairfax will transfer Go Digit Insurance and Go Digit Life Insurance stakes to IDBI Bank
Fairfax Financial plans to transfer its Go Digit insurance holdings and IIFL Capital stake to IDBI Bank following its $5.6 bn bid for a controlling interest in the lender
Fairfax Financial Holdings to acquire 60.72% of IDBI Bank for $5.6 bn in India
Fairfax Financial will acquire control of IDBI Bank for $5.6 bn and plans to combine its Indian insurance and financial services holdings under the lender
OK Savings Bank cyberattack targets online loan application system
South Korea’s OK Savings Bank has confirmed that a cyberattack targeting its online loan application system exposed the personal and financial information
Tesla plans Australia’s largest EV charging hub with 37 stalls in Albury
Tesla has proposed a $3.5 mn, 37-stall Supercharger hub in Albury, featuring V4 chargers and solar canopies, as Australia’s EV charging network expands.
Australian economy faces rising unemployment and inflation in 2027 – IMF forecast
IMF forecasts Australia’s unemployment will reach 4.7% in 2027 as GDP growth slows to 1.6% and inflation remains above the RBA’s target at 3.1%
Tune Protect expands embedded travel insurance across Southeast Asia
Tune Protect Re expands its Airpaz partnership to offer embedded travel insurance in Indonesia, Thailand and the Philippines through regional insurance partners
Insurtech Igloo expands into Turkey with personal cyber insurance partnership
Singapore insurtech Igloo partners with Sigortayeri to launch personal cyber insurance in Turkey, covering online fraud, identity theft and cyberbullying
FPT IS and Bytesforce partner to expand AI-powered insurtech in ASEAN
FPT IS and Bytesforce Technologies form an insurtech partnership to modernize core insurance systems, integrate AI and expand digital insurance across Vietnam and ASEAN
Daiichi Kosho data breach puts 8.7 mn records at risk in Japan
Daiichi Kosho warns that 8.72 mn customer and employee records may have been exposed after malware infected a Nippon Columbia Group computer in Japan
Kenny Habul HDT brand acquisition: Peter Brock’s Commodores to return
Kenny Habul relaunches Peter Brock’s HDT brand with plans for new Holden Commodores, performance upgrades, restorations and a Bathurst manufacturing facility
Australian VC Square Peg raises over A$1 bn across two venture capital funds
Australian VC firm Square Peg raises over A$1 bn for Fund 6 and Opportunities Fund 3, targeting AI, fintech, SaaS startups and later-stage investments
Tokio Marine HCC and Tokio Marine & Nichido Fire Insurance invest $300 mn in IFC fund
Tokio Marine Group commits $300 mn to a new IFC emerging markets private credit fund managed by BlueOrchard, targeting up to $2 bn in institutional investments
AI cyberattacks surge in South Korea and Japan as threats intensify
South Korea and Japan face rising cyberattacks as experts warn AI tools are making hacking, phishing and ransomware operations cheaper and harder to detect
US seizes Chinese cyber hacking tools linked to Flax Typhoon attacks
US authorities dismantle Microscan and FishHub infrastructure linked to China’s Flax Typhoon hackers targeting global critical infrastructure
Aon forecasts 9% rise in global medical costs in 2027
Aon forecasts global medical costs to rise 9% in 2027, with regional trends ranging from 7.5% in Europe to 12.2% in the Middle East and Africa
Zillion and Tokio Marine Highland expand luxury jewelry insurance
Zillion partners with Tokio Marine Highland to offer embedded jewelry and watch insurance for VIP clients through retail, collector and appraisal channels
Samsung forecasts record profit as AI chip demand surges
Samsung expects Q3 operating profit of $80.17 bn as AI chip demand drives memory prices higher, despite losses in its mobile and foundry businesses
nib Group completes travel insurance sales to Allianz Partners and IMG
nib Group completes the sale of its travel insurance businesses to Allianz Partners and IMG for $97.6 mn, with up to $10 mn deferred consideration
Blue Zebra launches Landlord Essentials insurance product
Blue Zebra launches Landlord Essentials, offering contents, rent default and landlord liability cover where building insurance is arranged separately
Emergence acquires Blue Zebra cyber insurance renewal rights
Emergence Insurance acquires Blue Zebra’s cyber renewal rights, adding its policyholders and cyber specialist Aaron Langmaid from July
Jio Financial and Allianz invest $66.6 mn in Jio Allianz General Insurance
Jio Financial Services and Allianz Europe invest $66.6 mn in Jio Allianz General Insurance to support the 50:50 joint venture’s operations
AM Best affirms Active Re ratings with stable outlook
AM Best affirms Active Re’s A financial strength and a issuer credit ratings with stable outlooks, citing capital strength and solid underwriting results
Star Health and Allied Insurance data breach case reaches Supreme Court
India’s Supreme Court refused to quash criminal proceedings against cybersecurity researcher Himanshu Pathak over the Star Health and Allied Insurance data breach case
Times Car data breach exposes 6.6 mn customer accounts in Japan
Times Mobility says a cyberattack exposed data from 6.6 mn current and former accounts, including ID images, addresses, phone numbers and email addresses
7 Korean banks hit by suspected AI-linked cyberattacks
Seven Korean financial firms report cyber breaches as customers consider lawsuits and police examine possible use of the open-source Artex AI hacking tool
Japan data breaches expose millions of customer records
Monogatari and Daiwa Securities report cyber incidents in Japan, potentially exposing data tied to more than 10 mn restaurant customers and 110,000 brokerage clients
Pneumonic plague fears in Russia: how serious is the risk to the rest of the world?
Fears of a possible plague outbreak in Russia have spread beyond Siberia after the death of a worker at an institute that studies Yersinia pestis, the bacterium responsible for plague
Earthquake strikes Victoria, shaking Melbourne – Geoscience Australia
A magnitude 4.8 earthquake struck near Leongatha in Victoria, shaking Melbourne and South Gippsland before a magnitude 3.1 aftershock followed
Greg Lui DOJ charges allege $300 mn Nvidia AI server smuggling
Greg Lui DOJ charges accuse the Earthmade Computer owner of routing over $300 mn in Nvidia AI servers to China through Malaysia and Singapore
FintechZoom Markets World Indices: Nasdaq leads global rebound
FintechZoom Markets World Indices track gains in the S&P 500, Nasdaq and European stocks as weak US jobs data shifts rate expectations
Chubb appoints Paul Jones as Head of Accident & Health, EMEA
Chubb appoints Paul Jones as Head of Accident & Health for EMEA, overseeing the insurer’s regional A&H business and growth across corporate and consumer markets
Jeff Bezos’ Earth Fund adds $25 mn to Pacific ocean conservation effort
Jeff Bezos’ Earth Fund adds more than $25 mn for Pacific ocean conservation as it works to distribute the remainder of his $10 bn climate pledge by 2030
Hanwha Life to acquire Acuon Capital for $323 mn
Hanwha Life will acquire 50.54% of Acuon Capital for $323 mn and invest $367 mn in Hanwha Investment & Securities
Life insurer TAL survey: 37% of Australians cancel social plans due to fatigue
Australian life insurer TAL finds fatigue, financial pressure and busy schedules prevent social connection, despite its importance for mental wellbeing
Bitget’s $357 mn crypto hack linked to North Korea, crypto theft tops $1 bn
Bitget’s $357 mn crypto hack is likely linked to North Korea, Elliptic says, pushing DPRK-attributed digital asset theft above $1 bn in 2026
Australia surcharge ban cuts credit card travel insurance perks
Australia’s card surcharge ban starts October 1 as banks raise fees, trim rewards and reduce travel insurance benefits to offset lower interchange income
Korea life insurance association brings AI into core operations
South Korea’s life insurance association is deploying AI for complaints, ad reviews, internal rules and licensing exam questions, with 17 use cases planned
Prudential Hong Kong launches AI underwriting tool with Alibaba Cloud
Prudential Hong Kong has launched an AI underwriting tool with Alibaba Cloud, providing preliminary guidance within minutes with over 95% accuracy
Australian EV demand rises to 31% in 2026 as running costs drive interest
EV consideration in Australia rose to 31% in 2026 as lower running costs, wider model choice and charging access reshape household buying decisions
Insurance Australia Group settles A$2.8 bn Credit Suisse claims over Greensill
IAG agreed to settle A$2.8 bn in Credit Suisse claims linked to Greensill insurance policies, with no material impact expected on FY2027 results
Airport strikes across Australia test travel insurance exclusions
Airport strikes across Australia put travel insurance exclusions under scrutiny as policy timing determines cover for delays, cancellations and extra costs
IRDAI proposes insurance distribution overhaul and lower expense caps
IRDAI proposes new insurance distribution rules covering commissions, lower EoM limits, mis-selling controls and a simpler three-tier structure
Saudi Arabia approved war-risk insurance pool for cargo and vessels
Saudi Arabia approved a national marine war-risk insurance pool led by Saudi Re to protect cargo, vessels and trade during geopolitical disruption
Hurricane watch issued for Hawaii as Tropical Storm Nolo strengthens
Hawaii’s Big Island is under a hurricane watch as Tropical Storm Nolo strengthens, with up to 35 inches of rain and major flooding possible
76% of New Zealand mid-sized firms faced cyber threats
NCSC research finds 43% of New Zealand SMEs feel vulnerable to cyber attacks, while 76% of firms with 20-49 staff faced threats or attacks.
New Zealand warns frontier AI will accelerate cyber threats by 2027
New Zealand’s NCSC says frontier AI is increasing cyber risk as serious incidents rise and criminals adopt AI for phishing, scams and reconnaissance
New Zealand’s NCSC names China as top state-backed cyber threat
New Zealand’s NCSC identified China as its most persistent state-backed cyber threat after 86 major cyber incidents showed suspected state links
OpenAI agent breached Australian Medicare portal, Anthony Albanese says
An OpenAI agent accessed non-public Medicare statistics files, prompting an Australian review after a nearly three-month disclosure delay
Multi-agent AI moves supply chains toward autonomous execution
Lenovo, Fujitsu, Kohler and others are testing multi-agent AI for supply chain execution, routing, inventory control and disruption response
Toyota estimates $6.4 bn annual robot spending from 2028
Toyota estimates factory automation could require 400,000 robots and about $6.4 bn in annual spending from 2028 across its plants and suppliers
Hanwha Finance deepens Abu Dhabi ties through digital asset partnerships
Hanwha Finance expands cooperation with Abu Dhabi across digital assets, stablecoins, payments and financial infrastructure under its Digital Asset Silk Road plan
Insurers face higher catastrophe risk as Pacific typhoon activity rises
Northwest Pacific typhoon activity is forecast 60% above average in 2026, raising catastrophe exposure across China, Japan, the Philippines and Vietnam
Hurricane Lowell may cause up to $1 bn in Hawaii damage
Hurricane Lowell passed west of Hawaii, bringing heavy rain and surf, with estimated damage of $600 mn and potential losses reaching $1 bn
Global insurance-linked securities market reached $145 bn in 2026, supported by record catastrophe bond issuance, 12.5% investor returns and expanding reinsurance sidecars
Insurance regulators in the US, UK and Japan are strengthening oversight of asset-intensive reinsurance, targeting counterparty credit risk, recapture reserve adequacy
Verisk raised its global insured catastrophe loss benchmark to $171 bn, with the US accounting for $117 bn and severe thunderstorms leading modeled risk
RiskScan 2026 reveals how cyber, climate, AI, inflation and business interruption are converging to reshape insurance priorities and risk management