Insurtech bolttech and Lotte Himart launches home appliance switching service
Lotte Himart, electronic goods retailers in South Korea, has partnered with international insurtech bolttech to launch the country’s first-ever home appliance
⛩️ Asia-Pacific Insurance News
Singapore leads TPRM maturity yet vendor cyber breaches keep rising
BlueVoyant data shows Singapore ranks among the world’s most mature TPRM markets, yet 93% of firms still suffered supply-chain cyber breaches
Global M&A activity continued despite a broader global slowdown in 2025
European and Asia Pacific dealmakers outperformed global peers in the first half of 2025, as M&A activity continued despite a broader global slowdown and persistent market uncertainty
Australia’s competition regulator blocks IAG bid for RAC Insurance
Australia’s competition regulator opposes IAG’s planned takeover of RAC Insurance, warning it would weaken motor and home insurance competition in WA
New Zealand home insurance costs diverge by region and risk
NZ home and contents insurance costs show uneven regional shifts as insurers apply finer risk-based pricing, with Canterbury and Wellington moving differently
PERILS estimates A$1,108 mn loss from Australia convective storms
PERILS sets initial insured loss at $1,108 mn for late-October 2025 severe convective storms across Australia’s east coast
Coupang data breach traced to ex-employee with system access
South Korea’s largest retailer says a former employee accessed internal systems, exposing data of 33.7 mn customers in the country’s worst cyber breach
Asia floods cause $20 bn losses, exposing rising climate risk
Deadly floods across South and Southeast Asia killed over 1,300 people and caused $20 bn in losses, highlighting growing climate and economic risks
Vietnam insurtech Saladin raises Series A led by SBI Ven Capital
Vietnam-based Saladin secures Series A funding to expand into life and health insurance, scale AI-driven distribution, and deepen enterprise partnerships
Largest Japanese P&C Insurers achieve strong results
Japanese property and casualty (P&C) insurers have reported strong financial results for the 2023 fiscal year, recovering from prior corporate scandals
Australia’s insurtech market to hit $4.2 bn by 2034 with 30% annual growth
Australia’s insurtech market jumps from $3767 mn to a projected $4.2 bn by 2034, driven by digital uptake, AI tools, embedded cover and rising consumer demand
Hong Kong tower fire triggers surge in insurance claims and pressure on Taiping
A deadly Hong Kong high-rise fire drives major claims for China Taiping, raises volatility risks and tightens renovation insurance terms
Cyclone Gabrielle machinery dispute shows how strict insurance policy terms bite
A forestry firm loses an $85k claim after moving equipment without insurer consent, raising questions about recovery wording and disaster-response realism
Upbit’s self-insurance model faces new questions after $36 mn Solana hack
Upbit again absorbs losses after a $36mn Solana hot-wallet hack, showing how self-insurance works – and where it can break under stress
ICA extends catastrophe declaration as storms in Queensland trigger 44k insurance claims
ICA broadens its Cat 255 declaration after severe storms and hail hit Qld and NSW, with 44,600+ claims and insurers deploying support across communities
Australia ranks second globally for extreme weather losses over 45 years
ICA data shows Australia has faced the world’s second-highest per-capita extreme weather losses for 45 years, urging major investment in resilience
MS&AD buys 18% of Barings for $1.44 bn to expand global asset reach
MS&AD takes an 18% stake in MassMutual’s Barings for $1.44bn, adding global scale, new capital, and deeper asset management ties
China’s insurers push AI, NEV data partnerships and chase new nonlife growth
AM Best’s James Chan says China’s insurers lean on AI, stricter rules and NEV data partnerships as motor, health, liability and green sectors expand
Australia’s Cyclone Reinsurance Pool lowers premiums but risk mitigation still lags
Australia’s cyclone pool eases premiums in high risk regions, yet insurers push for stronger resilience, data alignment and mitigation investment
IAG handles 10,000+ weather claims after major hailstorms in Australia
IAG processes over 10,000 claims after severe hail and storm damage across Queensland, NSW, and Victoria, activating major recovery operations
EQT and CVC form consortium in A$5.25 bn bid for insurance broker AUB Group
AUB Group allows EQT and CVC to form a consortium to acquire the Australian broker in a deal valued at A$5.25 bn, extending exclusivity talks to early December
Hanwha Life hosts FuturePlus FinTech training for Vietnamese students
Hanwha Life welcomes 30 top Vietnamese FinTech students to South Korea for a five-day FuturePlus training program focused on AI, InsurTech, and innovation
Asia-Pacific insurance market growth fueled by reforms, low coverage
Asia-Pacific remains one of the strongest global growth regions for insurance. It’s a region with a relatively young population and still very low penetration
Swiss Re pauses new life insurance deals in Australia as TPD claims soar
Swiss Re halts new business in Australia, citing unsustainable TPD insurance costs, with $1.43bn mental health claims in 2024 straining the financial system
IAG fields 3,000+ storm claims after giant hail hits Southeast Queensland
IAG brands including NRMA and RACQ Insurance are handling thousands of claims after severe hail and storms struck Brisbane, Gold Coast and Sunshine Coast
Insurance Australia Group lifts 2026 outlook after $855 mn RACQI acquisition
Insurance Australia Group boosts 2026 profit and premium guidance after completing its A$855M RACQI deal, forecasting up to A$1.75B in reported profit
China will expand the scope of institutions offering commercial insurance
China will expand the scope of institutions offering commercial endowment insurance services to meet the people’s diversified needs for elderly care
Yuexiu completes full takeover of Hong Kong Life with $130 mn capital boost
Yuexiu Enterprises finalizes Hong Kong Life acquisition, injecting HK$1 bn ($130m) to expand retirement, health, and Greater Bay Area insurance growth
Hong Kong names AIA and Prudential Asia as systemically important insurers
HKIA designates AIA and Prudential Asia as domestic systemically important insurers, subjecting them to tighter oversight and annual reviews
Australia’s cyclone pool reports $1.12 bn in claims, 3.2 mn buildings covered
Australia’s cyclone pool logged $1.12bn in claims in June 2025 quarter, covering 3.2mn buildings and $644mn in annual premiums across home, strata and SME
Australia’s insurance losses from natural disasters drop 25% in 2025
Insurance losses from Australian natural disasters fell to $1.97bn in 2025, ICA reports, but resilience gaps leave communities and governments at growing risk
Motor Trades Association of Australia warns IAG’s RAC Insurance deal risks shrinking competition
Australia’s motor trade group says IAG’s RAC Insurance takeover would entrench consolidation, raising premiums and reducing consumer choice
Oka Syndicate expands carbon insurance operations into Singapore’s climate market
Carbon insurer Oka opens in Singapore with Lloyd’s approval, aiming to back carbon trading, green finance, and transition projects across Southeast Asia
Insurance Australia Group seals A$855 mn deal for RACQ Insurance
IAG buys 90% of RACQ Insurance for A$855 mn, adding 840 staff and securing a 25-year underwriting partnership in Queensland
Gallagher Re to acquire Steadfast Re, expanding in Australia & Asia Pacific
Gallagher Re, the reinsurance broking arm of Arthur J. Gallagher, has agreed to acquire Steadfast Re, the Sydney-based reinsurance broker launched a decade ago
Australian ASIC cuts 9,240+ pages of rules, pushes simpler compliance for Firms
The Australian Securities and Investments Commission (ASIC) has scrapped more than 9,240 pages of regulations since January as part of an overhaul aimed at reducing complexity for businesses
Perils rolls out typhoon loss forecasting tool for Japan
Zurich-based catastrophe data provider PERILS has launched a new forecasting platform that delivers real-time industry loss estimates for typhoons in Japan
Insurtech Naluri secures $5 mn to scale digital health platform in Asia
Naluri, a digital health insurtech provider focused on employee wellbeing, has raised $5 mn in fresh Series B equity, bringing its total Series B funding to $14 mn
Manulife reports strong 2Q2025 earnings, recording net income of $1.8 bn
Manulife Financial Corporation delivered a solid second quarter in 2025, recording net income of $1.8 bn, a sharp $0.7 bn increase over the same period last year
Insurance losses from the floods in South Korea pressures on non-life insurers
The estimated insurance losses from the unexpectedly severe floods in South Korea will place pressure on the financial performance of the country’s non-life insurers
Resolution Life expands in Asia with reinsurance deal and Nippon Life acquisition
Resolution Life signed a flow reinsurance agreement with Taiju Life Insurance Co., part of the Nippon Life group, to support an Australian dollar-denominated
PERILS expands severe convective storm loss in Europe, Japan, New Zealand
Reporting will apply to industry losses exceeding €500mn in Europe, ¥100bn in Japan, and NZ$300mn in New Zealand. The scope includes both property and motor insurance lines
Australia’s Federal Court fines ACBF A$3.5 mn for misleading claims of Aboriginal ownership
Australia’s Federal Court fined ACBF Funeral Plans A$3.5 mn for falsely representing that the funeral expenses insurance provider was Aboriginal-owned
Australia’s securities regulator appeals Court ruling on HCF Life’s “Preexisting Condition” insurance term
Australia’s securities regulator appealed the Federal Court’s decision dismissing part of its proceedings against HCF Life Insurance Co concerning a “preexisting condition”
Bupa faces Federal Court over misleading conduct, agrees to A$35 mn penalty
The Australian Competition and Consumer Commission (ACCC) filed proceedings in Australia’s Federal Court against insurer Bupa
Insurance Australia Group estimated natural perils costs at A$1.1 bn
Insurance Australia Group Ltd. raised its fiscal-year 2025 guidance as estimated natural perils costs are projected at A$1.08 bn
Mergers and acquisitions insurance claims reached record levels in 2024-2025
Mergers and acquisitions (M&A) insurance claims reached record levels in 2024, with the highest total payouts ever recorded
Aon reports mid-June storms cause major insured losses across Europe and Asia
Insurers in Europe and Asia may each face insured losses in the hundreds of millions of dollars following a series of mid-June storms
Australian life insurer sanctioned for misleading customers on review rights
The Life Insurance Code Compliance Committee (Life CCC) of Australia sanctioned a life insurer for failing to properly inform 170 customers of their right
Samsung Fire & Marine Insurance invested in Canopius $570 mn
Samsung Fire & Marine Insurance (SFMI) has agreed to invest an additional $570 mn in London-based Lloyd’s underwriter Canopius, acquiring a further 21% equity stake
PERILS releases 2nd insurance loss estimate for Cyclone Alfred at AUD 2.25 bn
PERILS has published its second insurance industry loss estimate for Cyclone Alfred, which impacted Queensland and New South Wales
Insurtech AIFT and Shin Kong Life Insurance partnered to expand into Vietnam
Insurtech AIFT and Shin Kong Life Insurance have signed a cooperation agreement to expand into Vietnam’s digital insurance sector
Insurance Australia Group acquires RAC’s insurance business valued at A$1.35 bn
Insurance Australia Group reached an agreement with the Royal Automobile Club of Western Australia to acquire RAC’s insurance business in a deal valued at A$1.35 bn
Korean Insurers Prepared for Decline in Commercial Real Estate Investment Values
Fitch Ratings asserts that Korean insurers are equipped to handle decreased valuations in their international commercial real estate (CRE) investments
PERILS estimated Cyclone Alfred insurance loss in Australia at AUD 2,568 mn
PERILS has disclosed its initial industry loss estimate for Cyclone Alfred which affected the Australian states of Queensland and New South Wales
Insurtech XChange TEC INC acquired a Hong Kong-based insurance broker
Chinese insurtech XChange TEC INC has acquired a Hong Kong-based insurance broker, establishing a base to expand its services across China
China’s NAFR eases investment limits for insurers to boost real economy
China’s National Administration of Financial Regulation (NAFR) is raising equity allocation ratios for certain assets and increasing the cap on venture capital fund
FMA files civil case against IAG New Zealand over $19.3 mn in overcharges affecting 269,000 customers
The Financial Markets Authority (FMA) has filed civil proceedings against IAG New Zealand in the High Court in Auckland for breaching fair dealing provisions under the Financial Markets Conduct Act
Emerald acquired Insurtech Insights, a B2B company focused on the insurance technology sector
Emerald Holding has acquired Insurtech Insights, a London-based company focused on the insurance technology sector
Insurtech Kennedys IQ launches neuro-symbolic AI solution for insurance market
Insurtech Kennedys IQ, the technology division of Kennedys Law, launched Kennedys IQ SmartRisk, the first fully explainable neuro-symbolic AI risk analysis solution
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Global InsurTech funding rose 19.5% to $5.1 bn, with Q4 driving momentum as deal count and average size increased sharply, marking the first annual increase since 2021
InsurTech moves past disruption narrative, focuses on underwriting, AI, and operational efficiency as funding drops and insurers demand measurable results
The first notice of loss (FNOL) is the starting point for every insurance claim. It sets the tone for the entire claims cycle. And for years, this process has been manual
InsurTech funding crossed a significant milestone in Q2 2025, with $60.8bn raised since records began in 2012. The data reflects the scale of investor appetite over 10Y