Phil Bonner, Head of Global Credit at Howden Re, and Christopher Bowler, Managing Director of Financial Risks at Howden Re, discussed with The Insurer the evolving landscape of Credit and Political Risk Insurance (CPRI) in the Asia-Pacific region. Their comments come ahead of the Singapore International Reinsurance Conference.
Bonner addressed market demand and capacity: “Clients are focusing on high-quality, well-structured risks with strong credit profiles. New capacity has entered the market since Covid, which has inevitably led to some softening in primary and reinsurance rates. But the appetite for well-managed business remains very strong.”
Bowler commented on broader economic trends impacting insurance: “Tariffs, trade realignments and supply-chain disruptions are top of mind when structuring and supporting policies. They interrupt trade and, at times, the solvency of risks covered. But these same tensions also create opportunities as new trade partnerships diversify and broaden the pool of risk available to (re)insurers.”
Both executives noted that APAC’s rapid growth combined with structural complexities—such as geopolitical tensions and potential economic fragmentation—makes scenario testing and preparedness essential for market participants.
The full interview is available in The Insurer.