Public sector solutions – InsuranceAsia News https://insuranceasianews.com/industry_segments/ublic-sector-solutions/ Sun, 30 Nov 2025 10:01:59 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 Mutually beneficial to address Hong Kong’s marine war insurance needs https://insuranceasianews.com/mutually-beneficial-to-address-hong-kongs-marine-war-insurance-needs/ Sun, 30 Nov 2025 23:30:14 +0000 https://insuranceasianews.com/?p=205632 Hong Kong Marine War Risks Insurance Pool will focus on providing marine war risk insurance, covering vessel loss or damage caused by acts of war, piracy, terrorist attacks, and related geopolitical incidents.

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I read with some interest that Hong Kong has launched a marine specialty risks insurance pool, after it was first mentioned by Chief Executive John Lee Ka-chiu in his 2025 policy address in September....

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]]> Hong Kong launches marine war risk insurance pool https://insuranceasianews.com/hong-kong-launches-marine-war-risk-insurance-pool/ Thu, 20 Nov 2025 02:02:16 +0000 https://insuranceasianews.com/?p=204980 Initiative, announced by chief executive John Lee earlier this year, is managed by Alliance Risk Transfer and its founding members include China Taiping, PICC, CMB Wing Lung, CPIC and Asia Insurance.

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Hong Kong has launched a marine specialty risks insurance pool to provide stable risk coverage for the Asian shipping industry by consolidating local underwriting capacity.
The initiative was first an...

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]]> Australia’s cyclone pool ‘needs greater focus on climate resilience and mitigation’: ICA https://insuranceasianews.com/australias-cyclone-pool-needs-greater-focus-on-climate-resilience-and-mitigation-ica/ Thu, 13 Nov 2025 06:24:42 +0000 https://insuranceasianews.com/?p=204472 Industry group says pool has contributed to reducing pressure on insurance premiums in northern Australia, but not directly reduce underlying extreme weather risk.

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Australia’s cyclone reinsurance pool (CRP) needs a greater focus on climate resilience and mitigation to put sustainable downward pressure on insurance costs, the Insurance Council of Australia has to...

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]]> Seadrif, Philippines join hands to explore disaster insurance facility for public assets https://insuranceasianews.com/seadrif-philippines-join-hands-to-explore-disaster-insurance-facility-for-public-assets/ Tue, 11 Nov 2025 06:32:54 +0000 https://insuranceasianews.com/?p=204330 Seadrif Sovereign Asset and Fiscal Empowerment facility is intended to ensure uninterrupted delivery of essential services to citizens in the aftermath of natural disasters.

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The Southeast Asia Disaster Risk Insurance Facility (Seadrif) and the Department of Finance in the Philippines have agreed to explore the creation of a facility to embed disaster insurance directly in...

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]]> ADB approves US$400m loan to strengthen Philippines insurance sector https://insuranceasianews.com/adb-approves-us400m-loan-to-strengthen-philippines-insurance-sector/ Wed, 15 Oct 2025 01:12:23 +0000 https://insuranceasianews.com/?p=202006 The development bank's first dedicated insurance reform program will creat an enabling environment for broader participation in the sector.

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The Asian Development Bank (ADB) has approved a US$400 million policy-based loan to support reforms aimed at raising the efficiency of the Philippines’ insurance industry, the multilateral lender said...

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]]> ARPC in ‘strong financial position’ despite ‘large scale’ impact of ex-Tropical Cyclone Alfred https://insuranceasianews.com/arpc-in-strong-financial-position-despite-large-scale-impact-of-ex-tropical-cyclone-alfred/ Wed, 08 Oct 2025 02:06:45 +0000 https://insuranceasianews.com/?p=201492 Australian Reinsurance Pool Corporation suffered an operating deficit of US$587.5m during the 2024-25 financial year, according to its annual report.

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The Australian Reinsurance Pool Corporation (ARPC) suffered an operating deficit of AU$891 million (US$587.5 million) during the 2024-25 financial year due to the "large scale" of ex-Tropical Cyclone ...

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]]> Australia extends deadline for US$125m disaster mitigation grant due to Cyclone Alfred https://insuranceasianews.com/australia-extends-deadline-for-us125m-disaster-mitigation-grant-due-to-cyclone-alfred/ Thu, 27 Mar 2025 08:03:45 +0000 https://insuranceasianews.com/?p=179756 The application deadline for the third round of the Disaster Ready Fund, focused on large-scale infrastructure, has been extended by two weeks from April 2.

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The Australian government has extended the closing date for the third round of its flagship Disaster Ready Fund (DRF), which will provide up to AU$200 million (US$125 million) for disaster resilience ...

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