Global Risk Solutions (GRS), Liberty Mutual's global commercial and specialty (re)insurer and international insurance operations, has been restructured to bring together two business units in Asia - LSM and Asia Retail Markets - under a single unified strategy in the region.
Hong Kong's Insurance Authority (IA) held its Insurance-linked Securities (ILS) Conference earlier in April 2024. The conference, tailored specifically for institutional investors and related professional service providers, was the first of its kind.
In 2022, the Law on Insurance Businesses No 08/2022/QH15 came into effect, following the commitment agreed upon in the EU-Vietnam Free Trade Agreement in 2020, according to the Insurance Supervisory Authority (ISA) of Vietnam.
Guy Carpenter has appointed Mr Richard Chu as managing director, credit, bond and political risk, global specialties. In his new role, he will be responsible for new business development across the APAC region by supporting client relationships in the areas of credit, bond and political risk.
The AIA Group has launched "AIA CAN: An Eco-Office Movement" (AIA CAN) - a large-scale, multi-year programme that seeks to empower over 25,000 employees across 18 markets to adopt environmentally conscious mindsets, attitudes and behaviours to create more sustainable workplaces and a healthier planet.
Insurance industry organisation, CRESTA, which provides a global standard for risk accumulation zones and natural catastrophe industry losses, has added the Japanese Noto Peninsula Earthquake in early 2024 to its CRESTA Industry Loss Index (CLIX).
Sompo has appointed Mr Kenneth Reilly as CEO, insurance, subject to regulatory and immigration approvals. In his new role, he will be responsible for all of Sompo's insurance business across APAC.
Following challenging reinsurance renewals in 2023, which resulted in a global reset in property catastrophe pricing and retention levels, the 1 April renewals were more predictable and generally favourable to reinsurance buyers, according to Mr George Attard, CEO of Asia Pacific Reinsurance Solutions at Aon.
Market volatility is impacting the investment outlook for insurers across segments and business lines, according to a survey by Mercer and Oliver Wyman.
In 2023, the Monetary Authority of Singapore (MAS) named four 'domestic systemically important insurers' - AIA Singapore, Income Insurance, Prudential Assurance and Great Eastern Life Assurance.