TAL, Workcom and University of Sydney launch digital mental insurance health claims platform
TAL, Workcom and University of Sydney partner on Pathways project to improve mental health income protection claims and recovery outcomes in Australia
⛩️ Asia-Pacific Insurance News
Zurich’s Australian unit to acquire ClearView Wealth for A$408 mn
Zurich’s Australian unit will buy ClearView Wealth for A$408.3m at 65 cents per share, a 21.5% premium, with board and majority shareholder backing
Swiss Re to acquire QBE trade credit and surety unit
Swiss Re Corporate Solutions agreed to acquire QBE Insurance Group’s Global Trade Credit and Surety business, subject to regulatory approvals expected to take several months
The Cayman Islands’ reinsurance sector has expanded sharply
The Cayman Islands’ reinsurance sector has expanded sharply, according to 2025 insurance statistics released by the Cayman Islands Monetary Authority and highlighted by Cayman Finance
Hong Kong convicts father of activist over insurance policy withdrawal attempt
A Hong Kong court has found the father of overseas activist Anna Kwok guilty under Article 23 after he attempted to cancel her insurance policy and withdraw funds, in a case drawing international criticism
Kairos launches AI weather platform for parametric insurance
Singapore-based Kairos Risk Solutions introduces Weather Data Platform using AI to support year-ahead forecasts and data-driven parametric insurance structuring
Caribbean insurers benefit from softer reinsurance – AM Best
AM Best reports easing reinsurance costs and improved profitability for Caribbean insurers, while warning global economic shocks still threaten the region
Prudential of Japan halts new sales for 90 days after misconduct probe
Prudential of Japan suspends new sales from Feb. 9, 2026, to overhaul governance and compensate customers after employee misconduct findings
Prudential Japan CEO exit puts governance and investor trust under strain
CEO resignation at Prudential’s Japan life unit following employee misconduct raises governance questions as investors assess oversight across international operations
MS Amlin partners with MSI on UAE political risk reinsurance
MS Amlin launches a political risk reinsurance partnership with Mitsui Sumitomo Insurance in the UAE, expanding contract frustration cover via Dubai
Willis adds Dubai and Madrid to global D&F reinsurance placement hub network
Willis expands its direct and facultative placement network with new hubs in Dubai and Madrid, extending global market access through a single coordinated platform
Munich Re launches Lloyd’s pandemic parametric insurance consortium
Munich Re sets up a Lloyd’s consortium offering parametric pandemic cover, using WHO-based triggers to address a widening global protection gap
ILS market targets another record year after $24 bn issuance
Strong investor demand, reinvestment flows, and maturing cat bonds position the ILS market for another high-volume issuance year in 2026
Fitch: APAC reinsurance pricing stays soft in 2025, risks mount into 2026
Fitch says APAC reinsurance pricing will stay soft in 2025 amid rising capacity, but climate risks and competition could pressure margins ahead of 2026
Marsh Risk expands Nimbus data center insurance to $2.7 bn capacity
Marsh Risk increases Nimbus facility limits to $2.7bn for large-scale data center construction projects across major global markets
Most of the leading Korean Life Insurers reported a drop in shareholders’ equity
Fitch Ratings’ assessment of the company profiles of its rated Korean life insurers takes into consideration the insurers’ operating scale, franchise value, business risk profiles
Victorian bushfires in Australia trigger 1,386 insurance claims as total losses hit 30%
Insurers logged 1,386 claims from Victoria’s January bushfires, with 30% of property claims total losses, as the ICA activates its catastrophe response
Zurich Insurance Asia Pacific launches Edge Assist to boost digital insurance
Zurich Insurance Asia Pacific debuts Edge Assist, a unified digital platform enhancing sales, service, and claims for agents and customers across markets
Australia storms across Queensland and New South Wales cause A$2.7 bn insured loss – PERILS
PERILS estimates A$2.663 bn insured losses from late November storms in Queensland and NSW, driven by extreme hail and wind damage
Hong Kong Insurance Authority reviews RBC rules, weighing stablecoin, crypto capital
Hong Kong’s insurance regulator is reviewing its RBC regime, including capital treatment for stablecoins and crypto assets, to boost competitiveness
Hanwha Life acquires Velocity Clearing, Korean insurer entry into U.S. securities market
Hanwha Life has completed the acquisition of a 75% stake in New York-based financial services firm Velocity Clearing, marking a strategic expansion into U.S. capital markets
Largest insurers in Asia-Pacific increased capitalizations
5 of the 20 largest insurers in Asia-Pacific saw their market capitalizations increase sequentially in Q2 2024
Asia is experiencing highest rate of growth in insurtech investments
Asia’s insurtech sector has increased in breadth and depth in recent years. With the region currently poised as the fastest-growing global market for insurtech investmen
AM Best maintained stable outlook on Japan’s life insurance market
AM Best has maintained its stable outlook on Japan’s life insurance market segment, citing in part the prospects for higher premium income
Coupang to pay $1.17 bn after data breach hits 34 mn users
Coupang announces ₩1.69trn ($1.17bn) compensation plan for 34mn users affected by a major data breach, offering purchase vouchers from Jan. 15
China’s non-life insurance sector maintained strong financial stability in Q1 2025
Fitch Ratings reports that China’s non-life insurance sector maintained strong financial stability during the first quarter of 2025
Hong Kong draft rules reshape insurer capital for crypto and infrastructure
Hong Kong’s insurance regulator is drafting capital rules that could redirect insurer balance sheets toward cryptocurrencies and government-backed infrastructure
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
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
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