The fire insurance branch has faced challenges for many years related to high and frequent losses, which require concerted efforts to improve pricing mechanisms and technical evaluation, said Dr Tarek Seif, Vice Chairman of the Financial Regulatory Authority.
In recent years, extreme precipitation associated with linear rainbands has triggered large-scale flooding and landslides, leading to more severe and costly loss events in Japan. Events such as the widespread heavy rainfall experienced during Japan's 2023 summer rainy season have demonstrated the significant losses that extreme precipitation can cause.
As the reinsurance market enters the upcoming renewal season against the backdrop of an increasingly interconnected and rapidly changing risk landscape, clients need support in in identifying evolving exposures and risk accumulations through data and analytics, underwriting expertise and tailored solutions to manage this complex environment.
At the 30th Insurance Management Development Programme (IMDP), held at the Thai General Insurance Association, Office of Insurance Commission (OIC) Secretary-General Chuchat Pramoonpol delivered a special lecture, titled 'The Direction of Regulation and Promotion of the Thai Non-Life Insurance Business'.
The Global Asia Insurance Partnership (GAIP) has announced a strategic partnership with Cathay Life Insurance, which has joined GAIP as a Principal Partner.
Willis, a WTW business, has appointed Mr Trevor Madden as Head of Captive and Insurance Management Solutions for APAC, effective 1 November 2026.
Zurich Singapore has appointed Mr Dylan Bryant as Head of Zurich Multinational and Captives, APAC, and Mr Patrick Fyson as Head of Property, Asia.
The Pan-Asia Risk and Insurance Management Association (PARIMA) will host its Singapore Conference 2026, beginning with a one-day Masterclass on 14 October, followed by the conference on 15 October 2026.
The Insurance Association of Turkiye (TSB) says that insurance can move beyond its traditional role as a post-loss mechanism and become an integral part of climate-risk reduction, resilience financing and investment.
A super El Nino event is expected this autumn and winter, based on the comprehensive marine monitoring, atmospheric circulation and multi-model forecast results from the National Marine Environmental Forecasting Centre. The possibility that the impact of this year's El Nino may surpass that of the historical super El Nino of 1998 cannot be ruled out.