HDI Enters Asian Accident & Health Market

In this iPMI Global Country guides article, iPMI report author Ian Youngman, takes a look at HDI, who has entered the Asian Accident & Health Market with a new executive appointment.

Ian Youngman is a writer and researcher specialising in insurance. He writes regularly for a variety of magazines, newsletters, and on-line services. He publishes a range of market reports, and undertakes research for companies. To read his latest report, International Health Insurance 2023, please click here, or visit the REPORTS section of iPMI Global.

News

• Industrial insurer HDI Global SE Singapore (HDI) has entered the Accident & Health market in Asia with the underwriting appointment of Lisa Leow.
• She joins HDI from Starr Insurance Companies where she was Head of Accident & Health. Prior to that she held similar positions with QBE Asia and Zurich and spent more than ten years at AIG.
• Accident & Health insurance is a new line of business in the Singapore branch.
• HDI Global currently offers Property, Casualty, Engineering, Marine Cargo, Power & Energy and Political & Credit Risk in Asia.
• The Singapore branch functions as a hub for the Southeast Asian market and underpins its ambition to be a global player.
• HDI offers a broad range of Accident & Health products, with a strong proposition in international programmes for global clients.
• HDI Global SE meets the needs of SMEs, industrial companies and corporate customers with insurance solutions that are tailored to their requirements.
• In addition to HDI's prominent position in the German and broader European market, the company has access to its own worldwide HDI Global Network covering 175 countries through its own HDI foreign branch offices, subsidiaries, affiliated companies, and network partners.
• HDI Global SE leads 5000 International Programmes and offers its multinational customers compliant coverage worldwide.
• HDI Global SE is a company in the Industrial Lines Division of the Talanx Group and has been a leading insurer for several decades.
• 4500 employees in this division generated insurance revenue of EUR 8.2 billion in 2022.

Analysis

• HDI Global began by offering group IPMI in the UK in 2021.
• This is the first major expansion.
• HDI Global has been opening offices in new countries, the most recent being in Portugal.
• HDI Global offers group accident and health and IPMI.
• Parent Talanx has the money to expand.
• HDI has a strong and growing reputation in Asia and looking forward to bringing new opportunities to the business as it grows Accident & Health market footprint in the region.

What Next?

• HDI Global is in many countries where expanding into accident and health including group IPMI is a natural growth area.
• IPMI is part of the A and H and wider offering to companies rather than stand-alone.