Kathmandu. The global energy insurance market has been soft for consumers, despite rising deficits, societal inflation and geopolitical uncertainty. <\/p>\n
According to Willis’s latest Energy Market Review report, excessive capacity, intense competition and continued pressure on premiums have softened the market. “Upstream insurance capacity has reached a record high of more than $10 billion,” the report said. Further growth is expected from new market entrants and broker-led features. However, deficit activity, changes in capital allocation and macroeconomic volatility may soon slow the soft cycle. \u2019<\/p>\n
Willis said there are currently no clear structural catalysts for a significant change in pricing. “The upstream market remains very favourable for buyers after another year of limited losses in Asia,” Willis said. \u2019<\/p>\n
The absence of major upstream losses until 2025 has also strengthened Asia’s position in global insurance portfolios. According to the report, Asia’s downstream market will remain favourable for buyers in 2026 on the back of abundant capacity and the continued desire of insurers to grow. \u2019<\/p>\n
Competition is strongest for large refineries and petrochemical risks. It has strong engineering standards and clean claims records. However, premiums are falling faster than they were in mid-2025. <\/p>\n
Charlotte Watts, head of energy and mining at Willis for Asia, said markets in Asia are expected to remain subdued for at least the first half of the year. “However, insurance companies are becoming more aware of rate availability and oversupply of capacity,” she said. Larger growth targets are likely to prevent any significant price rise pressures anytime soon. \u2019<\/p>\n
Insurance buyers are in a good position to secure competitive pricing and good coverage terms. Especially where local market share or captive can be leveraged. \u2019<\/p>\n
Recent tensions in the Middle East have brought increased attention to risk exposure, Willis said in the report. “However, it is unclear whether the conflict will significantly impact insured companies in the operating energy market,” the report said. \u2013Agency<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. The global energy insurance market has been soft for consumers, despite rising deficits, societal inflation and geopolitical uncertainty. According to Willis’s latest Energy Market Review report, excessive capacity, intense competition and continued pressure on premiums have softened the market. “Upstream insurance capacity has reached a record high of more than $10 billion,” the report […]<\/p>\n","protected":false},"author":16,"featured_media":295580,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45031,45044,45159],"tags":[],"class_list":["post-295608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banner-news-en","category-international-news-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/295608","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=295608"}],"version-history":[{"count":1,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/295608\/revisions"}],"predecessor-version":[{"id":295609,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/295608\/revisions\/295609"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/295580"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=295608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=295608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=295608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}