Fire – InsuranceAsia News https://insuranceasianews.com/industry_segments/fire/ Mon, 22 Dec 2025 03:56:19 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 Kiwi broker Donaldson Brown elevates Racheal Greer to GM for fire and general https://insuranceasianews.com/kiwi-broker-donaldson-brown-elevates-racheal-greer-to-gm-for-fire-and-general/ Mon, 22 Dec 2025 03:52:59 +0000 https://insuranceasianews.com/?p=207513 Auckland-based Greer assumes day-to-day leadership of the division, with founders Alex Brown and Dan Donaldson continuing to focus on the broader strategic direction of the group.

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Kiwi insurance broker Donaldson Brown has appointed Racheal Greer as its general manager for fire and general division, according to an announcement on LinkedIn.
Auckland-based Greer (pictured) has wo...

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]]> Wang Fuk Court fire insurance payouts exceed US$33m: HKIA https://insuranceasianews.com/wang-fuk-court-fire-insurance-payouts-top-us33m-hkia/ Sun, 21 Dec 2025 23:29:59 +0000 https://insuranceasianews.com/?p=207488 General insurers have processed 1,038 clams with total payout of around US$26m in the three weeks since the fire, the regulator said.

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In the three weeks since the fire at Wang Fuk Court in Tai Po, total insurance payouts by insurers have exceeded HK$257 million (US$33 million), according to the Hong Kong Insurance Authority (HKIA).
...

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]]> ‘China Taiping good enough on its own’ after Wang Fuk Court fire, HKIA CEO Clement Cheung says https://insuranceasianews.com/china-taiping-good-enough-on-its-own-after-wang-fuk-court-fire-hkia-ceo-clement-cheung-says/ Mon, 08 Dec 2025 09:46:45 +0000 https://insuranceasianews.com/?p=206341 About 10,000 active life insurance policies from 35 insurers and 1,800 property policies from 35 insurers have been identified as having been issued to residents, he adds.

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China Taiping (Hong Kong) is expected to remain resilient without the need for additional external support following last month's deadly fire at the Wang Fuk Court public housing estate, where it was ...

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The post ‘China Taiping good enough on its own’ after Wang Fuk Court fire, HKIA CEO Clement Cheung says appeared first on InsuranceAsia News.

]]> Tai Po fire to halt ‘downward pressure’ on Hong Kong property reinsurance rates: AM Best https://insuranceasianews.com/tai-po-fire-to-halt-downward-pressure-on-hong-kong-property-reinsurance-rates-am-best/ Tue, 02 Dec 2025 03:08:23 +0000 https://insuranceasianews.com/?p=205837 Impact of the deadly fire will be widely felt by Hong Kong's (re)insurers, according to the credit rating agency.

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The deadly Wang Fuk Court fire in Hong Kong’s northern Tai Po district will lead to a repricing of reinsurance rates in the territory amid a global market softening, according to AM Best.
AM Best said...

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]]> APAC faces billion-dollar economic losses from Q1 wildfires: Aon https://insuranceasianews.com/apac-faces-billion-dollar-economic-losses-from-q1-wildfires-aon/ Wed, 14 May 2025 03:52:56 +0000 https://insuranceasianews.com/?p=190504 The costliest event for APAC insurers was ex-Tropical Cyclone Alfred, while Myanmar earthquake was the costliest economic loss in the region, with damages expected to reach billions of dollars.

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The significant wildfire activity in Asia Pacific, particularly in South Korea and Japan, in the first quarter of the year caused economic losses of more than US$1 billion, according to an Aon report....

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]]> Premium hikes to boost Japan’s big four insurers’ domestic profitability: Moody’s https://insuranceasianews.com/premium-hikes-to-boost-japans-big-four-insurers-domestic-profitability-moodys/ Thu, 17 Apr 2025 05:04:52 +0000 https://insuranceasianews.com/?p=181412 The profitability will improve gradually supported by fire and motor lines, which account for about 70% of net premiums written by Aioi Nissay Dowa Insurance, Mitsui Sumitomo Insurance, Sompo Japan Insurance and Tokio Marine & Nichido Fire Insurance.

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Premium hikes will boost Japan's big four insurers' domestic profitability, while they continue to manage capitalisation within target levels, Moody said.
The profitability of domestic P&C insuran...

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]]> With wildfires becoming more intense, damaging and frequent, insurers eye new approaches to coverage https://insuranceasianews.com/with-wildfires-becoming-more-intense-damaging-and-frequent-insurers-eye-new-approaches-to-coverage/ Wed, 09 Apr 2025 23:30:37 +0000 https://insuranceasianews.com/?p=180767 Events in South Korea and Japan highlight the rising threat of wildfire risks in areas and nations where they have traditionally been seen as a non-peak peril.

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As the worst wildfires in South Korea’s history continue in the wake of the worst wildfire in Japan in 50 years, insurers across Asia Pacific have been told they are likely to need to look at innovati...

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]]> Petronas faces potential US$5m hit from Malaysia pipeline explosion https://insuranceasianews.com/petronas-face-potential-us5m-hit-from-malaysia-pipeline-explosion/ Wed, 02 Apr 2025 10:26:42 +0000 https://insuranceasianews.com/?p=180348 National energy company’s captive, Energas, provides up to US$18m of cover, IAN understands.

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Petronas subsidiary Petronas Gas could face a one-off impairment of between MYR18-25 million (US$4-5 million) from the gas pipeline explosion in the residential township of Putra Heights in Kuala Lump...

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]]> Australia’s WA, SA, Victoria at heightened risk of autumn bushfires: AFAC https://insuranceasianews.com/australias-wa-sa-victoria-at-heightened-risk-of-autumn-bushfires-afac/ Thu, 27 Feb 2025 02:05:22 +0000 https://insuranceasianews.com/?p=177321 National Council for Fire & Emergency Services (AFAC) says the 'fire season in these areas may go a little longer this year'.

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Australia's National Council for Fire & Emergency Services (AFAC) has identified a heightened risk of fire for parts Western Australia, South Australia and Victoria in its Seasonal Bushfire Outloo...

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]]> With fires, floods ripping through limits, will carriers get with the program? https://insuranceasianews.com/the-start-of-2025-shows-carriers-still-havent-adjusted-to-the-new-claims-reality/ Tue, 11 Feb 2025 23:30:44 +0000 https://insuranceasianews.com/?p=175801 Insurers handed wake-up call after LA fires and Queensland floods usher in 2025.

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A couple of pieces of news really caught my attention recently and made me wonder if the market really understands the impact of climate change on balance sheets, and if not just how long it will take...

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