On 10 January, the China Financial Regulatory Administration (CFRA) reported that after a 6.8-magnitude earthquake struck Dingri County in Shigatse, Tibet, the CFRA quickly activated an emergency response.
The Australian Reinsurance Pool Corporation (ARPC) has teamed up with the University of Queensland for a three-year resilience study programme. The programme aims to understand how risk pooling can support individual and community resilience to cyclones and improve community outcomes for the ARPC-run reinsurance pool.
South Korean (re)insurers are looking at losses estimated to be around KRW90bn ($61.8m) from the devastating wildfires in Los Angeles. DB Insurance and Korean Re are likely to bear the largest impact, of these losses.
The annual Global Risk Report Executive Opinion Survey conducted by Zurich Insurance has revealed that economic downturns, such as recessions and stagnation, alongside concerns around the increasing frequency of weather events, natural disasters and labour and talent shortages, remain the most pressing concerns for businesses across the Asia-Pacific (APAC) region over the next two years
The National Insurance Commission of Nigeria (NAICOM) and Nigerian Federal Fire Service have reviewed and strengthened their partnership. As per the new agreement the Federal Fire Service will integrate fire insurance policy into its checklist to boost compliance levels and promote insurance penetration in Nigeria.
The Indonesian archipelago will continue to have wet rainy season during 2025 as the impact of La Niña continues. The country can expect high intensity rainfall to occur until April and thereby increasing the risk of catastrophic events causing much disaster in the country.
The first update to the National Seismic Hazard Assessment of Australia since 2018 has been released by Geoscience Australia. It identifies Darwin and the eastern highlands through into Latrobe Valley as areas where there is a higher risk of strong ground shaking.
Nepalese people affected by the devastating floods and consequential landslides that followed incessant rains in the country on 26 September 2024 have filed insurance claims worth NPR12.87bn for damages caused by the natural catastrophic events.
The Insurance and Social Security Supervisory Authority (ACAPS) in Morocco is currently conducting a feasibility study on the introduction of mandatory home insurance. This approach is part of a comprehensive vision of protection against home-related risks and modernisation of the insurance framework in Morocco, reported Hespress.
Pakistani insurer Adamjee Insurance Company has reported a significant loss of approximately PKR500m ($1.8m) due to claims, especially in the motor portfolio, resulting from the catastrophic flooding in Dubai in April 2024. The company's Pakistan operations are, however, profitable.