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
⛩️ Asia-Pacific Insurance News
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
New Zealand life insurance sector sees steady growth amid changing market trends
New Zealand’s life insurance sector has grown between 2% and 5% year-over-year since 2015, with seasonality having less impact on new business since 2021
Chubb acquires Liberty Mutual’s insurance businesses in Thailand and Vietnam
Chubb has agreed to acquire Liberty Mutual’s insurance businesses in Thailand and Vietnam, which include property and casualty consumer and commercial assets
Ping An Insurance to sell 41,9% stake in Autohome for $1.8 bn
Autohome, a Hong Kong-listed company, announced that Ping An Insurance will no longer be its controlling shareholder after selling a 41.91% stake for $1.8bn
Legal & General Group sells U.S. business to Meiji Yasuda Life Insurance for $2.3 bn
Legal & General Group plc agreed to sell its U.S. protection business to Meiji Yasuda Life Insurance Co. in a $2.3 billion deal
Suncorp Group finalized the sale of Asteron Life, its New Zealand life insurer
Suncorp Group has finalized the sale of Asteron Life, its New Zealand life insurance business, to Resolution Life NOHC for NZ$410 mn
ICA classified flooding in Queensland as a significant event and activated an Insurance Hub in Townsville
Severe storms and flooding have impacted northern Queensland and nearby areas in Australia since Jan. 29. The Insurance Council of Australia (ICA) classified it as a “significant event
Suncorp Group completed the sale of Asteron Life, its New Zealand life insurer, for NZ$410 mn
Suncorp Group Ltd. completed the sale of Asteron Life Ltd., its New Zealand life insurance business, to Resolution Life NOHC for NZ$410 mn
WTW introduced CyCore Asia, a cyber insurance facility in Singapore and Hong Kong
Willis Towers Watson (WTW) has introduced CyCore Asia, a cyber insurance facility designed for businesses in Singapore and Hong Kong
Re/insurance broker Miller expands in Asia with Miller Korea
Re/insurance broker Miller has strengthened its presence in Asia by launching Miller Korea, focusing on delivering global specialty expertise to the Korean market
Australian Competition & Consumer Commission moves to block hospital boycott of major insurers
The Australian Competition Commission intends to deny Catholic Health Australia’s request to allow its hospital members to boycott large private health insurers
AI Financial Technology expands into Japan’s crypto insurance market
AI Financial Technology (AIFT), which operates the insurtech platform OneDegree, announced plans to expand into Japan following its rebranding last year
South Korea debates health insurance rewards as other nations incentivize aging well
South Korea weighs health incentives for older adults while countries like Singapore, Japan, Germany and the Netherlands already reward healthy aging
Ping An plans to acquire the remaining shares of Ping An Healthcare for $1.7 bn
Ping An Group plans to acquire the remaining shares of Ping An Healthcare and Technology Co. for HK$13.23 bn ($1.70 bn
Jeju Air crash Boeing 737-800 in South Korea covered by $1 bn insurance policy
Jeju Air’s insurance policy, covering the crash of its commercial jet in South Korea on Dec. 29, provides up to $1 bn in per-event coverage
Insurance Australia Group secured a catastrophe reinsurance program for 2025
Insurance Australia Group Ltd. (IAG) secured a catastrophe reinsurance program for 2025 and provided up to A$10 bn ($6.25 bn) in coverage
PERILS releases final insured loss report for Australia Christmas Storms
PERILS has released its fourth and final estimate for the industry losses caused by the Australia Christmas Storms that impacted Victoria, New South Wales, and Queensland
OCBC Hong Kong to sell stake in Hong Kong Life for $75 mn
OCBC Bank (Hong Kong) announced it will sell its entire 33.33% stake in Hong Kong Life Insurance for approximately HK$589.3 mn ($75 mn) to Yue Xiu Enterprises (Holdings)
PERILS releases final insured loss estimate for Australia Christmas Storms
PERILS, an independent Zurich-based organization, has released its fourth and final industry loss estimate for the Australia Christmas Storms
Insurtech Zhibao Technology launches longevity risk lab in Shanghai
Zhibao Technology, an InsurTech company, unveiled the Longevity Risk Lab (LRL) in Shanghai at its inaugural Longevity Risk Conference
Hanwha Life Insurance acquires the parent company of Velocity Clearing
Hanwha Life Insurance plans to acquire a 75% stake in the parent company of Velocity Clearing. This move provides the South Korean life insurer with a foothold in the U.S.
Prudential Hong Kong launched of digital underwriting tool MedScreen+
Prudential Hong Kong has advanced the insurance industry with the launch of MedScreen+, a digital underwriting tool created in partnership with RGA
Ardonagh Group completes acquisition of PSC Insurance, expanding APAC & UK platforms
The Ardonagh Group, a major independent insurance broking platform, has completed the acquisition of PSC Insurance Group Limited
Insurance Council of New Zealand urges government to strengthen Resource Management Act
The Insurance Council of New Zealand (ICNZ) is urging the government to ensure that changes to the Resource Management Act (RMA) will protect communities
Super Typhoon Yagi caused insured losses, estimated at $500 mn in China
Super Typhoon Yagi has caused substantial insured losses, estimated at 3.5 bn yuan ($500 mn) in China, according to Guy Carpenter, a reinsurance broker.
Earthquake struck off Japan’s southern coast, prompting a tsunami
A powerful earthquake struck off Japan’s southern coast, prompting a tsunami advisory from the Japan Meteorological Agency
Insurance market in China rised in Q1 2024 to $302.7 bn – CNFRA
Insurance market in China in the Q1 2024 reported primary insurance premium income of $302.7 bn, an increase of 5%
Ping An upgraded Ping An Family Doctor – health management system
Ping An Health’s upgraded “Ping An Family Doctor” introduces a comprehensive one-stop proactive health management services system
Storms and flooding in Asia/UAE causing significant insured losses
Heavy rainfall, storms, and widespread flooding hit Southwestern Asia, notably the United Arab Emirates, in April, causing significant economic and insured losses
LGI developed behaviour based insurance for insurtech Carrot
Insurtech Carrot General Insurance has partnered with Lippo General Insurance, Indonesia to develop a Behaviour Based Insurance solution.
PERILS releases final insurance industry loss footprint for Cyclone Gabrielle
PERILS has disclosed its fourth and final industry loss estimate for Cyclone Gabrielle which impacted the North Island of New Zealand
PERILS’ final estimate for insurance losses from North Island floods
PERILS, an independent organization based in Zurich, has released its final estimate of NZD 2,230 million for the insurance market losses from the North Island floods
Chris Mackinnon becomes Lloyd’s regional director for Asia Pacific Middle East & Africa
Chris Mackinnon, with over three decades of experience in the insurance industry, is poised to become Lloyd’s Regional Director for Asia Pacific, Middle East, and Africa
Aviva will receive an additional £80 mn from sale of Singapore Life
Aviva plc has announced expectations to receive an additional £80 million (approximately SGD 0.1 billion) from the sale of its shares in Singapore Life Holdings Pte Ltd (Singlife)
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Aerospace and defense M&A reached 532 deals in 2025, as business aviation attracts private equity, family offices, and growth investors
Global insurance M&A stabilised, as insurers and brokers took a more strategic approach to acquisitions amid falling interest rates and a realignment of strategic priorities
Insurance brokers push debt-financed acquisitions amid slowing growth, Fitch warns credit risks rise but strong cash flow keeps leverage tolerable
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