Global InsurTech Market to garner $160 bn by 2030 at 32.7% CAGR
Global insurtech industry was pegged at $16 billion in 2022, and is estimated to generate $160 billion by 2030, growing at a CAGR of 32.7%
⛩️ Asia-Pacific Insurance News
Japanese insurers increases insurance premiums by 80% for LNG ships in Russian waters
Japanese insurers are planning to increase insurance premiums for ships carrying liquefied natural gas (LNG) that traverse Russian waters
Global catastrophes economic losses $270 bn, 44% covered by re/insurance
Global catastrophes around the world drove estimated economic losses of USD 270 billion in 2022, of which roughly 44% or USD 120 billion were covered by re/insurance
Japan’s largest insurers continues providing marine war insurance coverage for ship
Some of Japan’s largest non-life insurers continues providing marine war insurance coverage in a major policy U-turn, following negotiations with reinsurers
Typhoon Nanmadol inflicted $912 mn losses on the Japanese insurance industry
Typhoon Nanmadol has inflicted $912 mn in property losses on the Japanese insurance industry, according to PERILS’ second industry loss estimate
Hong Kong billionaire Richard Li invests $200 mn in his insurer FWD Group
Hong Kong billionaire Richard Li is weighing investing about $200 million in his insurance company FWD Group Holdingsas part of a funding round
Singapore will form a commercial Cyber Risk Pool up to $1 bn in capacity
Singapore will form a world-first commercial cyber risk pool, as it works towards strengthening the region’s resilience against growing cyber threats
Canada Life Re entered into a structured mortality transaction with Allianz Indonesia
Canada Life Re, a provider of reinsurance solutions for life and health, has entered into a structured mortality transaction with Allianz Indonesia, expanding its footprint in Asia
Singapore-based insurtech Aktivolabs raises $7 mn in a Series A funding
Singapore-based insurtech startup Aktivolabs has secured $7 million in a Series A funding round, according to regulatory filings
South Korean digital insurance carrier Carrot secures $250 mn funding
South Korean digital insurance carrier Carrot General Insurance has secured a fresh funding of $25 million. Led by private equity firm Affirma Capital
China Pacific Insurance launches of a digital currency account insurance product
China Pacific Insurance together with the Bank of Communications, announced the launch of a digital currency account insurance product
Munich Re with Shanghai JiuGe IT launches rating services platform in China
Munich Re and JiuGe Technology, subsidiary of mobile data and services company FingerMotion, are ready to launch new behavioural rating services platform
Hong Kong Government issued a development roadmap for the insurance sector
Hong Kong Government has issued a development roadmap for the insurance sector, including targeted policy measures to consolidate the special administrative region’s status
China’s Insurance Market posted remarkable changes in terms of size & structure
China’s insurance market posted remarkable changes in terms of size and structure in the past decade, according to the country’s top insurance regulator
Singapore-based insurtech BoltTech offer insurance on the card’s Max Me
Insurtech unicorn BoltTech has partnered with Max Solutions Service, a subsidiary of PTG, to offer insurance on the card’s Max Me application
Insurance market in Singapore is grow to more than $5bn in premium by 2026
The general insurance industry in Singapore is set to grow at a CAGR of 7.2%, growing from US$3.5bn to more than US$5bn in gross written premium (GWP) by 2026
Asian blockchain-insurtech Igloo raised $27mn in Series B
Southeast Asian insurtech Igloo has secured an additional $27mn in an extension to its Series B funding round, which was announced earlier in the year
Munich Re launches a Innovation R&D Centre in China
Munich Re said that the new centre will ‘foster new innovative initiatives’ through facilitating networks with technology providers and industry leaders
Dai-ichi Life acquires shares of pet insurance provider ipet for $278M
Dai-Ichi Life Holdings has made an offer to acquire shares of pet insurance provider ipet Holdings, with the intention of making it a wholly-owned subsidiary
Chubb Life Hong Kong and Aeon Credit launches partnership
Chubb Life Hong Kong and consumer credit company Aeon Credit Service have launched a new distribution partnership
AXA launches Hong Kong’s Internet of Vehicles (IoV) project collaborated by insurer and taxi
AXA Hong Kong and Macau have announced a partnership with Chung Shing Taxi and TaxiSafely to launch Hong Kong’s very first Internet of Vehicles (IoV) project
Ping An Insurance delivered at Q3 2022 a 20% annualized operating ROE
Ping An has announced its Q3 2022 results, saying that it saw a growth in operating profit of 3.8% during the period
Chinese general insurance market will grow to $304bn in 2026
Chinese general insurance market is set to grow at a compound annual growth rate (CAGR) of 7.2% from CNY1,367.7bn ($212.1bn) in 2021 to CNY1,943.1bn ($304.4bn) in 2026
AM Best maintaines its stable market segment outlook on the Japan Non-Life Insurance
AM Best has maintained its stable market segment outlook on the Japan non-life insurance segment given recent profitable underwriting performance
Hurricane Ian could lead to $50bn of insured industry losses, global insured losses of $100bn
Hurricane Ian could lead to $50bn of insured industry losses, with a likelihood of seeing global insured losses of more than $100bn in 2022
30 insurers ask court to seize and sell the Japanese vessel ONE Apus to cover $39mn claims
30 insurers that have paid an estimated $39 mn in lost cargo claims, along with cargo owners without insurance, asked court to seize Japanese vessel ONE Apus
Ping An Insurance launches PingAn-3, the company’s first earth observation satellite
Ping An Insurance Company of China has launched PingAn-3 – also known as Taijing-1 01 – the company’s first earth observation optical remote sensing satellite
Tokio Marine and Arbor Ventures building future of insurtech & digital transformation
Tokio Marine has joined forces with Arbor Ventures, a fintech-focused venture capital firm, to accelerate digital transformation and foster innovation
Mobility data company Wejo announced completion of a self-arranged $16 mn private investment
Mobility data company Wejo announced completion of a self-arranged $15.9 million private investment in public equity (PIPE) investment in Wejo
Mexico’s Insurance Industry Outlook 2026: $26 bn premiums, CAGR of 7.5%
Mexico’s general insurance industry is expected to grow at a CAGR of 7.5%, from $18.2 billion in 2021 to $26.1 billion in 2026
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The global insurance sector outlook remains ‘neutral’ at 2026, as business conditions have been resilient across most markets to the more challenging macroeconomic environment
The US P&C insurance industry recorded a $16.3 bn net underwriting gain in the first three months of 2026, up significantly from a $1 bn loss recorded in the prior-year period
Aerospace and defense M&A reached 532 deals in 2025, as business aviation attracts private equity, family offices, and growth investors
U.S. cyber insurance premiums rose nearly 11% in 2025 as policy volume jumped, but weaker pricing, higher losses, and AI-driven threats added fresh pressure