Asia-Pacific’s reinsurance market is undergoing notable changes, according to Howden Re’s regional leaders. In a roundtable discussion with Intelligent Insurer ahead of the Singapore International Reinsurance Conference, Candy Wong, Jimmy Tsai, and John Phillipz shared their insights on trends shaping the sector.
Candy Wong, Head of Treaty for Hong Kong at Howden Re, observed that reinsurers are aiming for more balanced portfolios by expanding beyond traditional non-marine and catastrophe insurance into areas such as casualty, cyber, and crypto. “Reinsurers are seeking greater balance in their portfolios, broadening beyond traditional non-marine and catastrophe lines into casualty, cyber and crypto. In Hong Kong, appetite has strengthened as reinsurers look to grow market share following several years of strong underwriting results,” Wong said.
Jimmy Tsai, Managing Director for Taiwan at Howden Re, pointed out that there is now more capacity available for property treaties. He also noted an increasing interest from reinsurers in casualty lines as part of diversification efforts. Tsai stated: “Reinsurance costs and retention levels are top of mind across the industry. Across APAC, players anticipate more frequent and severe nat cat losses. Loss trends in new energy sectors such as solar, battery storage and wind farms will also be closely monitored.”
In Australia and New Zealand (ANZ), John Phillipz, Head of ANZ at Howden Re, said clients are focusing on stability and long-term partnerships. He remarked: “Clients are increasingly exploring capital markets options alongside traditional reinsurance. Integration of capital, analytics and advisory will be critical for a maturing market that values flexibility and access to alternative capacity.”
The roundtable highlighted that throughout APAC the reinsurance sector is becoming more segmented and technical while emphasizing partnership-led approaches. For Howden Re, innovation and collaboration continue to play key roles.
John Phillipz added: “The integrated model of Howden Re, combining reinsurance, capital markets and strategic advisory, offers clients an unrivalled service capability. The opportunity to be part of this build-out in ANZ and the broader APAC region through a truly client-first and capital-agnostic approach is very exciting.”
The full interview can be read in Intelligent Insurer.