The risk that first appeared was geopolitical risk, then energy prices and food market risk appeared. A disrupted shipping route created supply chain risk. Following on its heels was cyber operations risk, and then production and financial risk.
Zurich Insurance Group has announced the appointment of Mr Scott Yin as CEO, Zurich China, pending regulatory approval.
The Global Asia Insurance Partnership (GAIP) has announced that Lloyd's Asia has joined the Asia-focussed, neutral tripartite platform as a Supporting Partner, bringing a specialist (re)insurance market perspective to GAIP's work to address protection gaps and strengthen resilience against the complex and evolving risks affecting Asia.
HDI Global has appointed Mr Kimura Kei as General Manager, Distribution and Marketing of its Japan branch.
Shinhan Financial Group has signed a stock purchase contract to acquire a 77.04% stake in Lotte Non-Life Insurance from JKL Partners for KRW693.3bn ($515m), marking a major move to expand its non-banking portfolio and elevate its standing in South Korea's non-life insurance sector.
AM Best maintained its stable outlook for Indonesia's non-life insurance market, citing steady economic conditions, expanding premiums and new initiatives designed to fortify the sector's financial health.
Howden has promoted Mr Elliot Richardson to the role of Chief Commercial Officer for the Group.
Al Buhaira National Insurance Company (ABNIC) has appointed Mr Ahmed Khalifa as CEO, following the Central Bank of UAE's non-objection, according to a company disclosure filed with the Abu Dhabi Exchange.
Arch Insurance Australia has promoted Mr Andrew Whitlock to the role of Head of Casualty.