1. ARB names new president for Indonesia

Asia Reinsurance Brokers (ARB) has named Inti Amaliah as its president for Indonesia, subject to regulatory approval. She will assume the new role on January 12, subject to a fit and proper person test from Otoritas Jasa Keuangan (OJK).

Amaliah joins from Aon, where she had been head of reinsurance solutions for Indonesian operations since November 2022.

Read the full story here.

2. Sompo Hong Kong appoints new head of casualty

Will Wang has joined Sompo Hong Kong as its new head of casualty for Hong Kong, Macau, and Taiwan, effective from Monday. He joins after spending the last eight years with Starr Insurance, most recently as its head of casualty based in Shanghai.

Read the full story here.

3. Munich Re elevates China L&H GM to Beijing branch CEO

Munich Re has appointed Eric Zhao (pictured) as chief executive officer of its Beijing branch. Zhao is currently general manager for Munich Re life and health in China, and will report to Steve Zhang, CEO for life and health in greater China.

Adrian Goh, who Zhao replaced, will become chief risk officer for APAC, the Middle East, and Africa from February 1.

Read the full story here.

4. bolttech hands APAC duo expanded roles

bolttech has handed John Chan an expanded role as its new general manager for Thailand. Since joining bolttech, Chan has spearheaded bolttech’s business strategy globally and will continue with the dual responsibility in his role as group head of strategy, reporting to group CEO Rob Schimek.

He replaces Aesop Ahn, who is transitioning into the role of director for special projects. Ahn, will develop and lead APAC’s strategic initiatives, cutting across all functions and distribution as part of the new role.

Read the full story here.

5. Aon India taps head of growth for facultative reinsurance solutions

Aon India has tapped Avishek Rath as its new head of growth for facultative reinsurance solutions. Mumbai-based Rath confirmed his appointment, effective immediately. Rath has joined Aon after more than 18 years at Marsh India, where he worked in a variety of senior roles, including serving as head of its renewable energy and upstream energy practices.

Read the full story here.

6. Crawford snaps up loss adjuster for Taiwan engineering team

Tony Tung Yu Lin has joined Crawford’s engineering team in Taiwan as a loss adjuster. Tung joins from WSP in Asia, where he had served as a civil structural engineer since March.

Read the full story here.

7. Koo Rosalind joins Miller as claims executive

Koo Rosalind (pictured) has joined specialist (re)insurance broker Miller Insurance Services as a claims executive. Singapore-based Koo most recently spent almost nine years as vice president and claims team leader at Marsh.

Read the full story here.

Other moves you may have missed

Newly launched MGA Prism has announced the appointments of Luca Ronsisvalle as its head of marine cargo and Jan von Kamp as head of energy, power and renewables as it begins underwriting in the region.

XS Global named Phillip Brain as regional A&H underwriting manager for Asia. Brain, who began the role in July according to his LinkedIn profile, brings over two decades of global experience in A&H, with expertise across leadership, underwriting and distribution.

QBE Asia made a double leadership appointment within their Singapore marine team, with Kelly Lim named as country lead for cargo and transport operator liability (TOL), and Alex Lim as country lead for hull and liability.

Allianz Australia appointed Gallagher Re’s Heather Bone (pictured) as head of reinsurance, succeeding Michael Crouch, who will retire next year. Bone joined Gallagher Re in March 2022 as regional CEO. Before that, she spent nearly three years at Munich Re, first as a consulting actuary before becoming head of strategy for non-life.

Allianz Trade promoted Wee Lee Quah to APAC regional COO. Quah has nearly 20 years of experience with Euler Hermes and most recently Allianz Trade following the rebranding in March 2022.

Kiwi broker Donaldson Brown elevated Racheal Greer to GM for fire and general. Auckland-based Greer has worked at the broker for more than eight years, having held multiple senior roles.

Marsh promoted Pin Li Lim to senior vice president. He has been with Marsh for over seven years and has been Asia claims leader for transactional risk Asia since October 2023.

For more InsuranceAsia News (IAN) people moves at brokers, insurers, reinsurers, insurtechs, specialty players, MGAs and loss adjusters across Asia Pacific’s fast-growing (re)insurance markets click here.

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IAN Exclusive. Marsh’s former growth and strategy leader for finpro in Hong Kong and Macau, Pal Tang, is set to join Aon on Monday in a regional role, InsuranceAsia News reported exclusively. 

Leadership switch. In heavyweight moves this week, Chubb snapped up AIG regional president Chris Colahan as head of APAC for its commercial P&C business, while AIG announced the appointment of Everest Insurance’s Scott Leney as his successor. 

Opening up. After years of false starts and dithering, India has finally allowed 100% foreign ownership of insurers.

The move is likely to be a driver for deals and consolidation in one of the world’s fastest-growing economies.

For most international players, India will be a priority market, and there will be some deals, and many participants with a minority interest will be pushing to get themselves into a majority position, ideally a significant majority. 

Lower barriers. Vietnam has given the nod for the removal and simplification of many ex-ante regulatory requirements for (re)insurers and market participants, as part of its newly amended law for insurance businesses. 

The law also introduces a clear roadmap for transitioning to risk-based capital requirements. 

Cat losses. Insured losses from natural catastrophe again have surpassed the US$100 billion mark for the sixth consecutive year, mainly driven by the unprecedented Los Angeles wildfire loss record in the first quarter of 2025 and SCS, according to Swiss Re Institute.  

Overall, at US$107 billion, total insured losses in 2025 is 24% lower than the US$141 billion recorded in 2024. 

New capacity. Former XL Catlin and Sirius Point executive Bobby Heerasing has launched a new APAC-focused MGA with the backing of Convex and Efinity. 

The new MGA, which was flagged by this newsletter last week, will be known as Prism and will have its headquarters in Singapore and an operation in Hong Kong. 

Meanwhile, Rainmaker Group-owned MGA XS Global has launched its APAC operations in Hong Kong. Led by former AIG exec Steve Barnett, XS Global Asia Pacific was granted a license in Hong Kong in July, with Lloyds coverholder status approved in August. 

Transformative times

And just like that, we’ve hit the final Full Capacity of the year – before the festive frenzy takes over. Well, maybe not for the reinsurance world, which is still racing toward the 1.1 renewals.

Word in the market? They’re running later than usual.

It’s been a transformative year for (re)insurance industry on the whole.

The once rock-hard market has softened, even as reinsurers continue posting stellar results – combined ratios dipping into the high 70s and low 80s. After years of turbulence, the sector finally seems to be breathing a little easier.

Catastrophes may have been relatively tame overall, but the year still packed a punch. From the early LA wildfire to the record-smashing Hurricane Melissa rolling through the Caribbean.

Asia wasn’t spared either: the Myanmar earthquake rattled nerves across the region, unprecedented wildfires hit South Korea and Japan, and late-year floods devastated parts of Southeast and South Asia.

But 2025 reminded us that not all crises are natural. The Air India crash and the tragic Hong Kong housing estate fire turned global attention to the human side of risk – and the industry that stands behind rebuilding lives and economies.

Deals dominated headlines, too. Sompo’s bold grab of Aspen Re set the tone, DB Insurance entered the US specialty market with Fortegra, and whispers of an AIG–Chubb mega-merger have the market buzzing.

M&A momentum hasn’t just picked up – it’s accelerating into the new year.

Closer to home, 2025 was the year MGAs truly came of age in Asia, with new launches multiplying across the region.

And let’s not forget the tech revolution. AI stopped being just a talking point and started reshaping business.

Just this Friday, AIG announced a Lloyd’s special purpose vehicle with Amwins, Blackstone, and Palantir – a next-gen structure leveraging GenAI for portfolio underwriting. That’s not just innovation, it could be the blueprint for what’s coming.

So yes, the market may be soft, and balance sheets brimming with capital, but with investors happy and margins strong, perhaps now’s the moment for the industry to double down on innovation – across technology, products, modelling, and distribution.

Because if the past few years were about rebuilding, 2026 and beyond could be the time for insurance to reinvent itself.

People moves

Howden has been on a hiring spree this week, building out its financial lines teams with notable hires, including Aon’s Xianwei Lee and Marsh’s Eugene Lim in Singapore. It also hired Sheen Fraser in the carrier management team.

Sompo Hong Kong expanded its marine team with Clara Yip.

Meanwhile, Sedgwick added Cory Chow as managing director of Asia global specialty marine.

Do check out our weekly people move round-up to stay up to speed on the most important appointments in the region.

The post The year that was appeared first on InsuranceAsia News.

1. Chubb taps AIG APAC regional president for APAC commercial P&C head role

Chris Colahan will join Chubb from AIG in February and will have overall operating responsibility for Chubb’s commercial property and casualty portfolio in the region.

Colahan has been AIG’s regional president for APAC since May 2023.

Read the full story here.

2. AIG make double senior appointments from Everest

AIG has hired Scott Leney as Asia Pacific regional president, succeeding Chris Colahan.

Leney will join AIG on February 1, subject to regulatory approval, and will lead AIG’s businesses in Australia, New Zealand, Singapore, Indonesia, Malaysia, Thailand, South Korea, Hong Kong, Taiwan, Vietnam, and the Philippines.

Adam Clifford rejoins AIG from Everest as CEO for international commercial insurance.

London-based Clifford previously spent over seven years at AIG in casualty roles in London and Singapore.

Read the full story here and here.

3. Aon rehires former Marsh finpro growth and strategy leader

Pal Tang, Marsh’s former growth and strategy leader for finpro in Hong Kong and Macau, is set to rejoin Aon in a regional role, first reported by InsuranceAsia News (IAN).

He then spent almost 11 years at Aon Hong Kong as a director from February 2009 to December 2019.

Tang also has had two stints at Marsh, first in risk and insurance roles, and then as vice president.

Read the full story here.

4. Howden reshuffles Asia team with multiple hires

Xianwei Lee and Blossom Lim have joined Howden’s M&A team as head of Asia and senior director for Asia, respectively.

Lee will be responsible for leading and expanding Howden’s M&A capabilities across the region.

Lim joins from Aon, where she was most recently the growth leader of M&A transaction solutions for Asia.

Sheena Fraser has joined Howden’s carrier management team in Singapore. Fraser was previously a commercial property underwriter at QBE Insurance in Melbourne until December 2024 and relocated to Singapore following a year of parental leave.

Eugene Lim has been named the head of tax insurance Asia as Howden continues to build out its financial lines teams in the region.

Read the full story here, here, here and here.

5. HK-based MG Geraghty Insurance Brokers taps ex-Generali business development head as executive director

Joshua Lynch has been named as the executive director at Hong Kong-based MG Geraghty Insurance Brokers.

The Lloyd’s coverholder is a specialist insurance broker that mainly specialises in bloodstock and event insurance.

Read the full story here.

6. Helvetia snaps up new Asia claims manager

Alex Lee has joined Helvetia Swiss Insurance as its claim manager for Asia.

Singapore-based Lee joins from real estate developer Mapletree, where he served as group claims and risk manager for insurance since January 2024.

Read the full story here.

7. Liberty Specialty Markets’ cyber lead confirms BHSI switch

Berkshire Hathaway Specialty Insurance has hired Angela Messih as executive and professional lines claims manager in Australia.

Sydney-based Messih will start at the specialty insurer in the new year.

Read the full story here.

8. Sedgwick names managing director of Asia global specialty marine

Global loss adjuster Sedgwick has tapped Cory Chow as managing director of its global specialty marine business in Asia.

She joined Sedgwick from Charles Taylor, where she worked for over 32 years and was managing director of marine North Asia.

Read the full story here.

9. QBE appoints new Malaysia marine country lead

QBE has named Denise Ng as country lead for marine in Malaysia.

Kuala Lumpur-based Ng has over 18 years of experience in marine insurance, with expertise across marine hull, cargo, builder’s risk, and ship repairer’s liability.

Read the full story here.

10. Sompo Hong Kong expands marine team with double appointment

Sompo Hong Kong has appointed Clara Yip as head of marine and Catherine Ho as senior marine underwriter.

Yip will be the insurer’s Hong Kong, Macau and Taiwan and regional logistics leader, effective from Wednesday,

Ho, who will report to Yip, will drive new business development to support the continued growth of Hong Kong’s marine portfolio, effective from Monday.

Read the full story here.

11. Allianz Commercial Japan hires new claims leader

Allianz Commercial has appointed Darren Livengood as director and general manager of claims for Japan.

He joins from HDI Global, where he served as head of claims for Japan for over five years.

Read the full story here.

12. Dual make double underwriter appointments in ANZ

Harry Grannum has joined Dual Australia as a senior cyber underwriter in its Sydney office.

He has over a decade of experience in cyber and technology underwriting and joins from Chubb.

Andy Gunawan has joined Dual New Zealand as a commercial underwriter.

Auckland-based Gunawan (pictured) joins Dual after over six and a half years with IAG, most recently as an underwriter for commercial and personal distribution.

Read the full story here and here.

13. Coface hires new Indonesia country manager

Trade credit insurer Coface has promoted Marsinta Marpaung to the newly created role of country manager for Indonesia.

Jakarta-based Marpaung (pictured), who joined the insurer in September 2024 as business leader for Indonesia, will report to APAC CEO Hugh Burke.

Read the full story here.

14. Berkley Insurance Asia appoints greater China senior commercial lines underwriter

Berkley Insurance Asia has appointed Caroline Chan as a senior underwriter for commercial lines for greater China.

Chan joins from Chubb, where she spent the last four years, most recently as a financial lines underwriter and will work closely with Esther Kwok, the head of commercial lines for greater China.

Read the full story here.

15. Markel names operations manager for Australia

Markel has appointed Pavi Siriharan as operations manager for Australia.

Melbourne-based Siriharan joins from Chubb, where she spent 17 years and was most recently commercial operations manager for Australia and New Zealand until December last year.

Read the full story here.

Other moves you may have missed

Reed Rohijas rejoined AIG as APAC network partner relationship manager. Rohijas previously spent over five years at AIG, joining the insurer as a network partner practice account specialist in February 2016.

Global insurtech bolttech promoted Jemma Delacruz to general manager for the Philippines. Delacruz has been at bolttech for nine years, most recently as senior key account manager.

For more InsuranceAsia News (IAN) people moves at brokers, insurers, reinsurers, insurtechs, specialty players, MGAs and loss adjusters across Asia Pacific’s fast-growing (re)insurance markets click here.

The post Chubb, AIG, Aon, Howden, MG Geraghty: 15 APAC insurance people moves of the week appeared first on InsuranceAsia News.

Legal update. Guy Carpenter won a lawsuit against ex-employees Celeste Choi and Dominic Lee, who diverted client Samsung Fire and Marine Insurance to South Korean broker LK Re. The Singapore High Court found the pair and LK Re conspired to lure SFMI’s business, costing Guy Carpenter at least US$1.3 million in lost brokerage revenue.  

M&A news. The Australian Competition and Consumer Commission (ACCC) has blocked IAG’s proposed acquisition of the insurance business of Royal Automobile Club of Western Australia, citing concerns it would substantially reduce competition in the state’s motor vehicle and home and contents insurance markets.  

Japanese insurer Mitsui Sumitomo Insurance (MSI) has acquired at least a 12.5% stake in US insurer WR Berkley, making it the company’s second-largest shareholder. MSI is expected to gain a board seat, with its nominee to be named by March.  

New leadership. Zhu Xiaoyun is set to be the first woman to become president of China Re. The appointment follows Zhuang Qianzhi’s approval as chairman. Zhu, who joined the reinsurer in 1998, was most recently executive director and vice president. 

Nat cat brief. Japan issued a megaquake warning after a 7.5-magnitude earthquake struck northern Japan on Monday, injuring at least 33 people and triggering small tsunamis.  

The Japan Meteorological Agency said the risk of an aftershock of 8-magnitude or higher along the Japan Trench and Chishima Trench has risen slightly.  

Meanwhile, Japan has lowered its projected death toll and economic losses from a potential major Tokyo-area earthquake.  

P&I renewals. P&I clubs face a crucial lead-up to the February renewals amid concerns over premium adequacy and rising claims costs. Clubs have announced 4–8% general increases, but many question if rates will cover more frequent and costly claims in the International Group pool.  

‘Not normal’: flooding unmasks climate change

When cyclones Ditwah and Senyar tore across Asia late last month, they did more than destroy homes and lives – they shattered the illusion that these disasters are exceptional. They are not.

More than 11 million people have been affected across Sri Lanka, Indonesia, Malaysia, Thailand and even in Vietnam and the Philippines.  

About 1.2 million were forced from their homes, over 1,750 lives have been lost, and thousands more remain unaccounted for beneath the thick mud that once was farmland.  

Experts say the devastation was driven by an extraordinary alignment of forces: cyclones Ditwah and Senyar forming almost simultaneously, colliding with a strengthened northeast monsoon.  

Warm ocean temperatures – supercharged by climate change – added fuel to the chaos, creating storm tracks in places that rarely experience them. 

While monsoon rains bring some flooding, scientists are clear that this was “not normal”. 

Clearly, climate crisis no longer announces itself through distant glaciers or abstract metrics. It pours through front doors, silences communities, and erases fragile recoveries overnight.  

And the economic impacts are equally merciless.  

Sri Lanka, which had finally clawed back from financial collapse with 4.5% GDP growth this year, is expected to see that figure fall to around 3% in 2026 because of Ditwah’s destruction.  

Across Thailand, Malaysia, and Indonesia, Moody’s Insurance Solutions estimates over US$10 billion in losses – half from business interruption alone.  

Global supply chains have been shaken again, echoing the 2011 Thai floods that crippled car manufacturing.  

Though Southeast Asia is no stranger to widespread flood events, economic flood losses over the past 10 years have not exceeded US$1-2 billion. 

Only the 2011 Thailand floods were on a larger scale, with US$45 billion of economic losses reported at the time, Moody’s noted. 

The industry faces a mounting challenge: how to price risk in a world where yesterday’s “hundred‑year” event seems to happen every other year and how to make better products and distribute them to reach the wider populations, especially on the margins of the economy. 

Meanwhile, the growing evidence for anthropogenic climate change could have serious consequences for the (re)insurance industry.  

This week, survivors of Typhoon Odette filed a lawsuit in London against oil and gas giant Shell seeking corporate liability for specific climate-related deaths, injuries, and destruction. 

The claimants said that the case draws on new climate attribution research, which found that human-caused climate change more than doubled the likelihood of an extreme weather event like Typhoon Odette. 

People moves

Aon has hired Manulife’s Ben Jones as its COO for Asia Pacific. 

HDI Global has chosen Peter Schraa as its new head of marine in Singapore to expand its marine underwriting footprint in Southeast Asia. 

Sompo has enhanced its underwriting structure in Hong Kong with the promotions of Ophelia Szeto and Jessica Lai. 

Do check out our weekly people move round-up to stay up to speed on the most important appointments in the region.     

The post Climate crisis strikes at Southeast Asia’s doorstep appeared first on InsuranceAsia News.

1. Aon reshuffles APAC teams with senior appointments

Aon tapped Marsh’s James Harmer as head of global and corporate for Australia,

He returns to Aon from Marsh, where he spent 12 years as part of their risk teams.

Ben Jones has also moved from Manulife to Aon as COO for Asia Pacific.

Read the full story here and here.

2. HDI Global Singapore names new head of marine

HDI Global has chosen Peter Schraa as its new head of marine in Singapore.

Having joined in December, Schraa reports to managing director and principal officer Alex Tarantino.

Read the full story here.

3. Latitude Brokers’ names broking, operations and claims divisional director

Hong Kong-based marine specialists Latitude Brokers has appointed Angie Siu as its new divisional director of broking, operations and claims. 

Siu spent the last eight years and three months at WTW, most recently as director for marine

Read the full story here.

4. Sompo boosts Hong Kong underwriting structure with double promotion

Sompo has enhanced its underwriting structure in Hong Kong with the promotions of Ophelia Szeto and Jessica Lai.

Szeto will assume the role of head of property and construction, covering Hong Kong, Macau, and Taiwan.

Lai, meanwhile, will take on the position as head of mid-corp and SME.

Read the full story here.

5. Arch Insurance Australia unveils key leadership appointments

Arch Insurance Australia has appointed Joe Donovan as deputy regional manager and Marita Elliott as head of underwriting operations and compliance.

Donovan most recently was claims manager at the firm, while Elliott previously was the underwriting operations and compliance manager.

Read the full story here.

6. Chubb names head of property for overseas general insurance business

US insurer Chubb has appointed Aaron Shead as head of property for its overseas general insurance (COG) business.

Shead has over three decades of experience in the insurance industry and has been with Chubb for over 25 years in Asia, Bermuda and the UK.

Read the full story here.

7. China Re nominates first female president

China Reinsurance has nominated Zhu Xiaoyun as president following Zhuang Qianzhi’s approval as chairman, according to official documents and local media reports.

Zhu, who previously was executive director and vice president, is set to be the first woman to become president of China Re.

Read the full story here.

Other moves you may have missed

PICC vice president Yu Ze has resigned amid a state investigation into disciplinary breach, with Zhang Daoming being named as the temporary responsible officer.

For more InsuranceAsia News (IAN) people moves at brokers, insurers, reinsurers, insurtechs, specialty players, MGAs and loss adjusters across Asia Pacific’s fast-growing (re)insurance markets click here.

The post Aon, HDI Global, Latitude Brokers, Sompo: 7 APAC insurance people moves of the week appeared first on InsuranceAsia News.

Brokering deals. Australian broker AUB Group’s sales talks with private equity firms EQT and CVC has been called off as the bidders walked away. The consortium informed the company that they do not wish to proceed with their bid at AU$45 (US$29.46) a share.  

Meanwhile, AUB’s competitor Steadfast has seen stocks rally after reports that PE giant Blackstone was weighing a US$4.6 billion bid for the broker, which has been in the headlines recently for the wrong reasons. 

M&A update. Tiptree shareholders have approved the sale of US specialty insurer Fortegra to South Korea’s DB Insurance. The all-cash deal, reported to be around US$1.65 billion, was approved at a special meeting on Wednesday.

DB Insurance signed an agreement to acquire Tiptree and Warburg Pincus-owned US specialty insurer Fortegra for US$1.65 billion in September. 

Nat cat brief. Asia Pacific has accounted for around half of the US$22 billion total losses from tropical cyclones this year, according to Munich Re. The losses from windstorm events this year tracked far below the inflation-adjusted averages for the past 10 years (US$100 billion economic/US$40 billion insured), and the past 30 years (US$67 billion economic/US$26 billion insured).

Asia Pacific saw 27 tropical cyclones, 16 of which were of typhoon strength, develop in the Northwest Pacific by the end of November, while five became “super typhoons” in categories 3-5. 

Elsewhere, Windstorm events have wreaked havoc across Southeast Asia and South Asia. Tropical Storm Senyar, which followed a rare track through the Strait of Malacca, has caused widespread flooding in Thailand and Indonesia, with combined economic losses estimated at about US$20 billion, according to Aon. 

Tropical Storm Ditwah, the deadliest cyclone to hit Sri Lanka since 1978, is estimated to have caused US$613-835 million direct damage and about US$40 million in damages in India.  

Meanwhile, the Philippines and Vietnam were impacted by Typhoon Koto over the past week, but the impact was relatively benign compared to other typhoons this year. 

First reported. Allianz Re has announced a leadership change in APAC with Anna Kohls to take charge of the carrier as Kenrick Law has left the firm. Kohls will relocate from Munich to Singapore to lead the third-party P&C business across Asia Pacific. Law, who has been spearheading the reinsurer for nearly 12 years in the region, will take a break, he told InsuranceAsia News. 

Wang Fuk Court fire forces market reset

The recent tragedy at Wang Fuk Court in Hong Kong’s Tai Po, where a devastating fire claimed 159 lives, is not just a heart-wrenching loss for the community but also a stark warning for the city’s insurance industry. 

Beyond the devastating human loss, the tragedy has triggered deep questions about accountability, governance, and risk culture in one of the world’s most vertical cities.  

It also threatens to upend long-standing assumptions in the insurance sector, where risk was priced too cheaply and managed too loosely for too long. 

Market dynamics will harden swiftly.  

Fitch anticipates insurers tightening project screening, mandating on-site monitoring, and hiking reserves for renovation risks –  especially high-rises with scaffolding.  

While immediate losses may be manageable, layered reinsurance arrangements and potential governmental support could mitigate longer-term impacts. 

Yet, the reality is more complex. The Hong Kong Federation of Insurers estimates that gross insured losses could reach at least US$200 million, as InsuranceAsia News had first reported.  

The loss is a substantial figure that suggests the fire may strain the financial underpinnings of the P&C sector. 

This comes on the heels of an already tumultuous year marked by extreme weather events and other notable fire losses like the one in Chinachem Tower in October, which have eroded underwriting margins and highlighted the inherent risks of insuring properties in high-density urban areas. 

The industry’s inevitable response will be a market hardening: higher premiums, stricter exclusions, and tighter underwriting for high-rise renovations.  

Industry sources tell me that insurers and reinsurers are already revisiting pricing and conditions in the ongoing renewal discussions. 

Initial investigations suggest that the fire’s rapid spread was accelerated by substandard plastic netting, tarpaulins, and foam boards used on building exteriors – materials failing basic fire safety standards.  

The picture echoes the 2017 Grenfell Tower tragedy in London, where combustible cladding claimed 72 lives and subsequently reshaped the UK’s regulatory and insurance landscape.  

Like Grenfell, the Wang Fuk Court disaster exposes how fragmented oversight and cost-driven decisions can create systemic vulnerabilities with catastrophic results.  

It is already prompting calls for sweeping reform of Hong Kong’s fire-safety code, especially regarding building materials, scaffolding standards, and renovation approval processes. 

For insurers, the claims complexities are immense. Multiple overlapping policies –property all-risk, contractors’ all-risk, third-party liability, and employee compensation – blur the lines of responsibility.  

Legal wrangling could arise over “legal requirements clauses” that void coverage if safety standards were breached. 

The Hong Kong Insurance Authority has acted quickly, forming a task force led by senior executives to coordinate the industry response and ensure speedy claims processing.  

Insurers have set up hotlines, offered premium holidays and policy-loan relief, and pledged simplified claims procedures. 

These gestures, though vital in the immediate aftermath, cannot substitute for structural reform. Insurance may cushion the economic blow, but only institutional reform can prevent the next inferno. 

People moves

Liberty Specialty Markets has restructured its Asia Pacific underwriting operations. Key appointments include Marcus Thomas relocating to Hong Kong as CUO for commercial Asia and third-party APAC, and Brett Gardiner as CUO of Australia and first-party APAC.  

QBE appointed Sebastian Tjornelund as head of marine underwriting for Asia. 

Berkley Re Asia has promoted Si Wei Tay to head of claims, and Billy Kwan to head of property and business support. 

Do check out our weekly people move round-up to stay up to speed on the most important appointments in the region.    

The post Reckoning after Tai Po tragedy appeared first on InsuranceAsia News.

1. Allianz Re APAC CEO departs, replacement appointed

Allianz Reinsurance has appointed Anna Kohls as regional CEO for P&C client management in Asia Pacific, effective from January 1.

She takes over from regional CEO and head of P&C client management Kenrick Law, who is leaving the company after 12 years.

Read the full story here.

2. IAG NZ names new CEO

Australian insurer IAG has chosen Phillip Gibson as its CEO for New Zealand, effective from  March 2, subject to regulatory approvals.

He will succeed Amanda Whiting, who has held the role since 2021 and is due to return to a group role at IAG in Australia.

Read the full story here.

3. Liberty Specialty Markets revamps APAC underwriting structure with 5 promotions

Liberty Specialty Market’s Marcus Thomas, Brett Gardiner, Shawn Anderson, Ben Hissey and Angelo Maniatis will be part of the revamps across Singapore, Hong Kong, China, India, Malaysia, and Australia.

The internal appointments come as the specialty insurer seeks to unite its retail, commercial, and specialty operations.

Read the full story here.

4. QBE confirms interim head as new head of marine underwriting for Asia

QBE has confirmed the appointment of Sebastian Tjornelund as head of marine underwriting for Asia.

Tjornelund had assumed the role on an interim basis in July following the departure of Rama Chandran in June.

Read the full story here.

5. Howden appoints Marsh veteran as chief client officer

Marsh veteran Rebecca Poon has taken up her role as chief client officer for Howden in Hong Kong.

She had been at Marsh Hong Kong for 42 years, having started at JLT, most recently as head of corporate.

Read the full story here.

6. Charles Taylor names Asia regional hub director

Charles Taylor has hired Viknesh Sheekar as its regional hub director.

Sheekar joins from Sedgwick, where he was director for regional major and complex loss.

Read the full story here.

7. Berkley Re Asia promotes senior claims officer, underwriting manager

Berkley Re Asia has promoted Si Wei Tay to head of claims, and Billy Kwan to head of property and business support.

Tay has held the position of senior reinsurance claims officer since May 2021, while Kwan joined the firm as an underwriting manager in February 2022.

Read the full story here.

8. Eclipse appoints senior casualty underwriter

Specialist Australian insurer Eclipse has named Andrew Hookings as its senior casualty underwriter.

Hookings brings over 25 years of experience across the insurance industry, spanning claims, property, and distribution.

Read the full story here.

9. Axa XL India snaps up Vishal Singh Rana as construction underwriter

Vishal Singh Rana has joined Axa XL India as a construction underwriter.

Rana joins Axa XL, having spent the last three years as a vice president for construction and infrastructure at Prudent Insurance Brokers.

Read the full story here.

10. HDI Global hands promotion to assistant property underwriter

Ashlee Bradley has been promoted to property underwriter at HDI Global.

Perth-based Bradley has been with HDI for over five years, most recently as an assistant property underwriter.

Read the full story here.

Other moves you may have missed

Marsh appointed I-Tung Chan as Asia renewables risk engineer. Taipei-based Chan joins from international assurance and risk management provider DNV as a vice president.

For more InsuranceAsia News (IAN) people moves at brokers, insurers, reinsurers, insurtechs, specialty players, MGAs and loss adjusters across Asia Pacific’s fast-growing (re)insurance markets click here.

The post Allianz Re, IAG, Liberty Specialty Markets, QBE, Howden: 10 APAC insurance people moves of the week appeared first on InsuranceAsia News.

HK Fire. In one of the worst tragedies to hit Hong Kong in recent years, at least 128 people were killed and several injured after a fire engulfed a public housing complex in Hong Kong’s Tai Po neighbourhood. 

Hong Kong-based China Taiping is the insurer on all the property all risks, contractors’ all-risk policy (CAR) and third-party liability (TPL) covers, as InsuranceAsia News first reported. 

The insurance claim from the Wang Fuk Court housing estate is likely to be over HK$1.5 billion (US$200 million) under the master property policy with additional claims likely under the CAR, including TPL and employees’ compensation covers. 

Nat cat brief. Australian insurers have reported more than 33,000 claims following severe hailstorms that impacted southeast Queensland and northern New South Wales on Sunday and Monday. 

Suncorp said its net cost for the supercell thunderstorms is expected to be AU$350 million (US$228.5 million), which is the maximum event retention of main catastrophe reinsurance cover. 

Australia push. Munich Re Specialty has announced its expansion into Australia, which will be led by former Lloyd’s regional director for Asia Pacific, the Middle East and Africa Chris Mackinnon. 

IAN Exclusive. Canopius’ Asia Pacific chief underwriting officer Yann Marmonier has left the Lloyd’s specialty (re)insurer, InsuranceAsia News first reported.  

Gift City. Korean Re has received regulatory approval to establish a new branch in Gujarat International Finance Tech-City (Gift City). The South Korean reinsurer plans to officially commence operations in April. 

PE funding. Thai digital insurer Roojai said it is eyeing further M&A opportunities after attracting a fresh US$60 million investment in a series C fundraising led by private equity firms Apis Partners and Asia Partners. 

P&I merger. The UK P&I Club and the TT Club have announced that they are currently engaged in discussions regarding a potential merger.  

The AI dilemma

In one of the first instances of AI-driven job losses in the insurance sector, Bloomberg reported this week that Allianz plans to cut between 1,500 to 1,800 jobs at its Allianz Partners subsidiary as part of its transition to AI.  

It is part of a broader trend among major companies increasingly adopting AI to streamline operations and reduce staffing costs. And the conversation around AI and jobs has now moved on from theoretical to a cold splash of reality. 

Executives now tout the gains in efficiency from AI in earnings reports and memos, framing workforce reductions as a necessary adaptation to an economy increasingly driven by technology. 

A US study noted that AI is responsible for about 50,000 job cuts in the country so far this year, with a sharp rise in October.  

A study from the Massachusetts Institute of Technology (MIT) suggested that up to 11.7% of the US labour market could be replaced by AI, translating to a staggering US$1.2 trillion in lost wages across critical sectors like finance and healthcare. 

The financial sector is no exception. Bloomberg Intelligence predicts that global banks may cut up to 200,000 jobs in the next three to five years as AI infiltrates processes traditionally handled by humans.  

It’s clear that the stakes are high and the implications could be staggering for job markets.  

However, it is not quite doomsday yet and a healthy dose of scepticism is warranted. 

There is some talk of “AI washing”, which is a word for scapegoating AI to effect layoffs that were already in the pipeline and not due to efficiency gains. 

By pinning the cuts on an unstoppable force of technology, companies sidestep blame and frame themselves as pragmatic pioneers. 

AI washing or efficiency gains, there is no denying that the underlying trend is terrifyingly real. 

There is, as always, a glimmer of hope. A McKinsey analysis offers a crucial insight: over 70% of the skills employers want today are used in both automatable and non-automatable work.  

This suggests that as adoption advances, most skills will remain relevant, but how and where they are used will evolve. So, human skills aren’t becoming obsolete, but their application is.  

The question is no longer what you know, but how you can apply it when the routine tasks are being systematically ceded to machines. 

People moves

Howden has appointed Marsh’s Alaric Lee as chief commercial officer for Asia. 

Loss adjuster Sedgwick has promoted Aruna Chandrapalan to CEO of Singapore. 

Meanwhile, vrs Adjusters has appointed former Swiss Re executive Sydney Soo as APAC director. 

Generali GC&C’s head of business development Joshua Lynch has announced his departure from the insurer. 

Do check out our weekly people move round-up to stay up to speed on the most important appointments in the region.   

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1. Steadfast COO departs, role made redundant

Steadfast has confirmed the departure of COO Noelene Palmer after the Australian broker opted to make the role redundant.

Palmer was the source of the recent workplace complaint against Steadfast chief executive Robert Kelly, according to a report by The Australian Financial Review.

Read the full story here.

2. Asia Pacific CUO leaves Canopius

Canopius‘ Pacific chief underwriting officer Yann Marmonier, has left the Lloyd’s specialty (re)insurer, first revealed by IAN.

It is not immediately clear who will replace Marmonier. Singapore-based Nattakorn Wattanaumphaipong is the deputy CUO for Canopius APAC.

Read the full story here.

3. Lloyd’s APAC director to lead Munich Re Specialty’s Australia push

Chris Mackinnon, Lloyd’s regional director for Asia Pacific, has been chosen to lead the buildout of Munich Re‘s specialty division in Australia.

The German reinsurer said that Mackinnon would join in the first half of 2026, subject to regulatory approval.

Read the full story here.

4. Generali GC&C’s Asia head of business development confirms departure

Head of business development Joshua Lynch confirmed his departure from Generali Global Corporate & Commercial (GC&C) in Hong Kong this week to “prepare to embark on a new opportunity.”

Lynch joined Generali in September last year from Lloyd’s, where he had spent almost 10 years. 

Read the full story here.

5. Sedgwick announces new joint CEO of Singapore, current CEO to retain existing leadership role

Sedgwick has announced the promotion of Aruna Chandrapalan to CEO of Singapore.

Nigel Cook is retaining his leadership role as head of major and complex loss, having held a dual role for the last two years.

Read the full story here.

6. Howden taps Marsh MD as chief commercial officer for Asia

Howden has appointed Alaric Lee as chief commercial officer for Asia, according to a press release from the broker.

Lee joins from Marsh, where he most recently served as managing director and corporate and commercial leader for Marsh Asia since September 2024.

Read the full story here.

7. Sompo names new head of HK operations

Sompo Hong Kong has hired Alan Lang as head of operations.

He will be responsible for leading the operations and policy administration team and report to APAC COO Maya Dongyoung Lee, with a matrix reporting to Hong Kong CEO Alasdair Walker.

Read the full story here.

8. GT Insurance appoints new CEO

Nick Slessor has taken up his role as CEO of GT Insurance, a partner agency of Allianz Broker Australia that specialises in the Australian transport sector.

Slessor was COO for Australia and New Zealand at Cover-More Group, the Australian travel insurance company, before joining GT.

Read the full story here.

9. HDI Global ropes in senior underwriter for engineering in Singapore

HDI Global has appointed Ecton Chung as senior underwriter for engineering

Chung joins from Mapfre, where he was a property and engineering underwriter since September 2019.

Read the full story here.

10. vrs Adjusters names new APAC director

vrs Adjusters has appointed Sydney Soo as director of its vrs APAC team, effective from Monday.

Soo spent nearly 10 years at Swiss Re before the move, where he was senior claims manager and head of claims for APAC.

Read the full story here.

11. Ace Insurance Brokers appoints new president

Arvind Laddha has been appointed president of India’s Ace Insurance Brokers.

Laddha will report to Raj Ajmera and Anil Arora, the founders and promoters of Ace Insurance Brokers, who will continue as joint managing directors of the company.

Read the full story here.

Other moves you may have missed

Sompo Indonesia appoints Doly Ritonga as executive officer. A veteran with over two decades of experience working in insurance, Jakarta-based Ritonga joins from Indonesian assurance firm Avrist.

For more InsuranceAsia News (IAN) people moves at brokers, insurers, reinsurers, insurtechs, specialty players, MGAs and loss adjusters across Asia Pacific’s fast-growing (re)insurance markets click here.

The post Steadfast, Canopius, Munich Re, Generali GC&C, Sedgwick: 11 APAC insurance people moves of the week appeared first on InsuranceAsia News.

IAN exclusives. MS Amlin Asia Pacific is preparing to expand its Phoenix ILS vehicle during the upcoming 1.1 renewals and return to the ILS market in the first quarter of 2026 with a broader range of Asian risk products 

Mapfre Re is preparing to set up shop in India’s Gift City, as the Spanish reinsurer accelerates its push into the Indian market, InsuranceAsia News reported exclusively. 

HK marine pool. 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, InsuranceAsia News first reported. 

The Hong Kong Marine War Risks Insurance Pool will be managed by Alliance Risk Transfer and counts China Taiping, PICC, CMB Wing Lung, CPIC and Asia Insurance as founding members. 

Risk losses. A fire at South Korean fashion giant E-Land’s logistics centre could potentially see hundreds of millions of dollars in insured losses from both property damage and inventory losses.  

Hanwha General Insurance is the lead carrier on E-Land’s insurance programs, with Hyundai Marine & Fire Insurance, DB Insurance, KB Insurance, and Heungkuk Fire & Marine Insurance among the co-insurers. 

The program’s reinsurers, primarily Korean Re, are likely set to face significant claims. 

Internal affairs. Lloyd’s has opened an investigation into John Neal’s six-year stint as CEO of the UK insurance exchange after “new information has emerged” in recent days. 

Lloyd’s said that it had earlier commissioned an independent fact-finding review in October over an “alleged workplace affair”. 

Meanwhile, another Australian insurance CEO, Robert Kelly of Steadfast, returned to work on Tuesday following the conclusion of an external investigation into a workplace complaint, the Australian broker said in a stock exchange announcement. 

Big move. Marsh Asia president James Addington-Smith has been appointed CEO of Marsh UK. Marsh McLennan Asia CEO David Jacob, meanwhile, will assume the additional role of president of Marsh Asia. 

IPO bound. Chubb Malaysia will list on Bursa Malaysia to comply with regulatory requirements for foreign insurers to reduce their stakes in their local units. 

The carrier’s sole shareholder, Chubb INA International, plans to divest a 30% stake in the company. 

Regulatory burden 

One of the key topics at SIRC earlier this month was changing solvency regimes and increasing regulatory and compliance burdens in the region’s fragmented insurance markets. 

Especially in Southeast Asia, regulatory changes will be a theme that will play out over the next couple of years and could potentially change the industry landscape. 

Regulator’s increasingly tough stance on capital and risk is not an incidental backdrop to market dynamics – it is the central driver of a march towards consolidation. 

Indonesia, Vietnam, the Philippines and Thailand are rolling out the most significant solvency reforms the region has seen in decades, explicitly tightening capital regimes and demanding more sophisticated risk management.  

These moves go far beyond consumer protection or technical housekeeping; they favour scale, sophistication and balance sheet muscle over incumbency. 

In practice, only large or deeply specialised insurers can bear the fixed cost of compliance without distorting business models.  

And with these changes mandating more capital, more modelling, and more governance layers, “staying small” becomes a slow path to obsolescence. 

Indonesia shows how blunt capital thresholds can serve as an explicit consolidation trigger.  

Minimum capital requirements for insurers are being ratcheted up in phases to some of the highest levels in Asean, with reinsurance capital floors set to rise dramatically by 2028.  

These new thresholds will deliberately squeeze under-capitalised and sub-scale players toward one of three outcomes: raise fresh equity at punishing terms, sell to a stronger rival, or exit. 

It does seem that in the regulatory environment, scale is not just an advantage but a regulatory expectation. 

Regional and global carriers with diversified portfolios and access to deep capital pools are positioned to snap up assets, while local and niche firms are pushed into defensive mergers or fire-sale exits.  

People moves

Aon has named Jason Disborough as chief commercial officer for the Pacific region. 

Willis has promoted Anthony Wong to head of casualty for the Asia region. 

In a leadership reshuffle, Sedgwick has named New Zealand CEO Phil van Zyl as interim CEO of Australia and Simon Kay as chief operating officer. 

Cynthia Yuan Xi has become the new head of China Re’s climate risk research centre. 

To keep up with the latest people moves in the region, don’t forget to check out our weekly people move round-up. 

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