Composite insurance rates in Asia dropped by 3% in 4Q2024, as compared to 4% in 3Q2024, according to Marsh's "Asia Insurance Market Rates: 2024 Fourth Quarter", published in February 2025. Of the countries surveyed, Korea's rates fell the most by 9%, while Taiwan's rates increased by 11%.
The decision by the UK and the US not to sign a declaration at the Artificial Intelligence Action Summit in Paris earlier this week has laid bare the growing divisions over international oversight of the technology. It behooves the insurance industry to be ready for any challenge arising from this situation.
Singapore is rolling out comprehensive cybersecurity training for about 500 board directors in 2025, as part of a nationwide initiative to strengthen corporate defenses against digital threats.
According to a digital report published by Marsh, (re)insurers in the Middle East are "eager to expand their property portfolios".
The Actuaries Institute has identified key priorities to strengthen economic resilience and social equity, calling out five key areas for the federal government to consider in its 2025-2026 Budget.
Cyber threats have emerged as the primary concern for businesses operating in Morocco, according to a recent survey conducted by Allianz.
WTW has appointed Mr Tushar Gupta as head of FINEX India. This is in addition to his current role as head of financial institutions, Southeast Asia and India in WTW's Corporate Risk and Broking business.
Global broking and advisory firm Willis Towers Watson (WTW) has launched a new cyber insurance facility, CyCore Asia, targeting businesses in Singapore and Hong Kong. To be underwritten by QBE Insurance Group and AXA XL, it aims to address the cyber security concerns with a primary insurance capacity of up to $15m.
Thailand's National Cyber Security Agency (NCSA) is actively working to establish a cyber fraud insurance framework to face the growing threats from burgeoning cyber risks and data breaches. This initiative is expected to aid organisations in the country in managing their cyber risks as detailed in the country's Cybersecurity Act and Personal Data Protection Act.
The period of benign weather this year has meant insurer profits have increased substantially, especially when compared to the lower-than-average returns in 2023 that were due to the impacts of the Auckland floods and Cyclone Gabrielle, says Taylor Fry, an analytics and actuarial consulting firm.