HDInsights May 2026 Ed.19 HDI Asia Pacific and Middle East Newsletter
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May 2026 | Edition 19 5 8 12 16 19 22 24 Foreword - Stefan Feldmann HDInsights LIVE: When the show can’t go on How HDI navigates the global aviation insurance market AI with purpose: A conversation with Claudia Nelson and Nicky Loreto-Dicks Introduction to the new Korea Office HDI reports strong 2025 financial results Finishing strong: How to navigate the EOFY sprint without running on empty Contents
The launch of our Film and Media Production Insurance Package brings fresh competition to a market that has long needed an alternative, covering the full spectrum of the industry – from major studio productions to independent filmmakers and freelance content creators. The product is led by Chris Milne, our dedicated underwriter based in Melbourne. Equally exciting is the forthcoming launch of Environmental Impairment Liability (EIL) Insurance, supported by Tom Hansen, our dedicated underwriter based in Brisbane, further deepening our specialty capabilities. And we continue to grow our footprint in New Zealand, where HDI Global Specialty is expanding its presence. Growth, Gratitude, and a Team That Makes the Difference Welcome to our latest edition. The first months of 2026 have been marked by meaningful milestones, new partnerships, and the kind of momentum that comes from a team that is truly committed to what it does. We began the year with Xcelerate29 kick-off meetings across all states, reinforcing our shared belief that excellence is a choice we make every day. It was energising to bring our teams together around this vision and to feel the determination that runs through our organisation as we set our course for the years ahead. In Perth, we also celebrated with a dedicated kick-off broker function – a great evening of connection that set the right tone for the year ahead. One milestone deserves particular recognition: we have now written 200 International Programmes led out of Australia. This is a remarkable achievement and a testament to the expertise, relationships, and trust we have built over many years. It also reflects the confidence our clients and broker partners place in us – none more so than Lockton, who has hand-selected HDI as a key partner for their ambitious OneAsia strategy. Our Singapore and Hong Kong teams were invited to showcase why HDI's bespoke servicing model is the right fit for Lockton's complex multinational accounts, and I could not be prouder of the impression they made. Looking ahead, we are expanding our product offering in meaningful ways. Stefan Feldmann, Head of HDI Global Asia-Pacific Managing Director HDI Global SE, Australia Managing Director HDI Global Specialty SE, Australia and New Zealand Foreword HDInsights Edition 19 | page 4 Across the region, our teams have been active in the market – attending the Steadfast Regional Conference, the Marsh and Nutrien Conference on the Gold Coast, and hosting brokers at the Formula 1 Australian Grand Prix in Melbourne among many others. These moments of connection matter. They are where relationships are built and trust is deepened. Learn more about EIL on page 19
Alex Tarantino Managing Director HDI Global Singapore HDInsights Edition 19 | page 5 A highlight of the quarter was our participation in the Lockton Asia Multinational Series 2026, where Rinnah Roque, Philipp Glanz, Benjamin Yip, Michael Ahn, Daniel Lau, and I delivered an online presentation on International Programmes to 46 attendees across seven territories. We also welcomed Lunar New Year in style, with a lion dance in the office, a 'Lo Hei' celebration, and the tradition of red packet blessings. Adding to a busy quarter, our team gathered for a Financial Wellness presentation by Jeremy Wang and Sharon Wang from People & Culture, and we screened the Talanx Together Townhall in the office – with our Singapore team proudly featured and flying the flag for the region. Looking ahead, there is much to celebrate, including the 10th anniversary of our Labuan office, which will bring the team together in Kuala Lumpur in May. The momentum is real, built on the right foundations – talented people, meaningful relationships, and a clear sense of where we are headed.” Foreword In this edition, I would also like to pay tribute to our colleague Herman Chu, who passed away on 17 March, one day after his 43rd birthday, after a courageous battle with cancer. Herman was a valued member of our Claims Management Team, a devoted husband and father, and someone who faced his illness with extraordinary courage and grace. Our thoughts remain with his family. For those who wish to continue supporting them, Herman's GoFundMe page remains open. This year's Tour de Cure ride – 1,400 kilometres from Canberra to Hobart in nine days – was dedicated to Herman, and I am deeply grateful to everyone who supported that effort through donations, kind words, or simply keeping him in their thoughts. “The start of 2026 has brought with it a real sense of energy and momentum across our Singapore operations, and with each step forward, we continue to grow stronger as a team and as a business. We hit the ground running from day one – a spirit reflected not only in our business activity, but in the way our people have come together. From our January team BBQ kick-off to our Full-Day Offsite at the Fairmont Hotel, which combined strategysharing, team building, and a focus on our strategic priorities, the tone has been set for a strong year ahead. In this edition you will find: HDInsight Live: When Entertainment Risk Meets the Modern World Flying Through Uncertainty: How HDI Navigates the Global Aviation Insurance Market Digital Transformation: A Conversation with Our Two Female Leads Introduction to Korea: HDI Global's New Seoul Office HDI Global Reports Strong 2025 Financial Results, with Asia Pacific and Middle East Momentum Reinforcing Group Performance Personal Wellbeing: Tips from Our Head of HR on Managing Stress Before End of Financial Year
Michael Ahn Chief Executive HDI Global Hong Kong “In recent months, we have seen strong momentum across our North Asia operations, particularly in Korea. I’m pleased to share that Kim Tae Han, Lead Underwriter North Asia based in Hong Kong, recently represented HDI as a speaker at the Medical Korea Conference 2026 – an important gathering of industry leaders in the healthcare sector. His presentation on ‘Risk management and new product development for Medical Korea’ highlighted our expertise and reinforced our commitment to supporting innovation in this evolving market. We also marked a key milestone with the official opening of our Korea office, celebrated by an inaugural dinner in Seoul attended by senior representatives from insurers and brokers. The event underscored HDI’s longterm commitment to the Korean market, our global strength, and our ambition to act as a trusted local partner, particularly in areas such as ESG and climate-related risk. Encouragingly, we are also seeing strong traction in our core business, including several large engineering projects and growing Asian interest in international opportunities in the first quarter – giving us positive momentum for the year ahead.” Foreword HDInsights Edition 19 | page 6 Stefan Feldmann Head of HDI Global Asia-Pacific Managing Director, HDI Global SE, Australia Managing Director HDI Global Specialty SE - Australia & New Zealand Ultimately, our success is rooted in the trust and partnerships we share with you. Strategy only truly delivers when it is lived daily; that’s why our focus remains on being one per cent better tomorrow than we are today. Excellence is a conscious choice, and it is one we make every single day. Thank you for being an integral part of the HDI journey – we look forward to reaching new heights together in 2026. Warm regards, Willem van Wyk Senior Executive Officer HDI Global Dubai During this time, we’ve also experienced the strength of the global insurance community, with colleagues from around the world reaching out to support us. At the same time, we continued to invest in our capabilities, welcoming Fraser Galbraith and Ayse Ovali to our engineering team, and preparing to launch our cyber line of business in mid-April with the appointment of Jess Mulcanny, an experienced cyber underwriter formerly with AIG.” “In recent months, regional hostilities prompted us to activate our business continuity plans, with the team quickly adapting to remote working, daily check-ins, and new ways of collaborating. I’m very proud of how seamlessly our people responded under pressure, while remaining committed to staying closely connected with our broker partners rather than retreating behind screens. While market conditions may be affected by project delays and adjustments in insured values, the impact on HDI has so far remained limited.
HDI Insights LIVE: When The Show Can’t Go On HDInsights LIVE: When the show can’t go on From weather and terrorism to crowd science and AI surveillance, HDI and industry specialists reveal how a single live event can trigger cascading losses across liability, cancellation, and production – and why the industry needs smarter insurance partnerships. Live events are no longer just logistical challenges. At HDI Global's recent HDInsight Live webinar, a panel of specialists examined the rapidly evolving risk landscape facing the entertainment, sports, and live events industry – from the threat of terrorism and crowd crush to the financial complexity of partial cancellations and the emerging demands of film production. The discussion revealed how a single incident can cascade across multiple coverage areas, and why early engagement between insurers, risk managers, and loss adjusters is the difference between a managed outcome and a catastrophic one. third of our book.” HDInsights Edition 19 | page 7 The Threat Environment at a Glance Three forces are reshaping the risk landscape for live events. The terrorism threat environment has intensified. ASIO has maintained a threat rating of 'probable' since 2024, and the December Bondi terror attack demonstrated how a single act of violence reverberates well beyond the immediate tragedy – cancelling subsequent events, suppressing attendance, and damaging the broader events economy. Craig Sheridan, Managing Director of Sheridan Consulting Group and a former Commander of New South Wales Police, confirmed that Sydney New Year's Eve 2025/26 saw attendance down slightly on previous years, a direct consequence of public anxiety following this tragic event in the city. From the Stage to the Boardroom: A Performer's Perspective on Risk Adriana Giometti, HDI’s Head of Marketing and Communications for Australasia and a former professional actress, shared a perspective on risk rarely heard in corporate settings — from the other side of the camera. Even on well‑managed film sets, where gaffer tape secures every cord, signage is clear, and armourers are present at every take, the unexpected still finds a way in. Weather disruptions, sudden allergic reactions to makeup, cameras mounted on vehicle bonnets while directors call for live adjustments — risk is constant, even when controls are in place. “You’re focused on your lines, the emotion of the scene, the person next to you,” Ms Giometti recalled. “You’re not necessarily thinking about the safety aspects of driving that vehicle.” Events such as the Alec Baldwin shooting incident, in which a crew member was fatally wounded, were particularly difficult to comprehend. “The stringent practices we had in place for even a very low‑budget short film in Australia made it hard to understand how that could have happened,” she said. Issue-motivated groups – whether ideologically left, right, or cause-driven – represent a growing and less predictable threat class. “There is a lot of hatred out there in the community towards different groups,” Mr Sheridan noted. “It is something we have to be aware of at every event.” When Entertainment Risk Meets the Modern World
iii Extreme weather is increasingly disrupting the Australian events calendar. With climate volatility affecting everything from outdoor festivals to televised sporting broadcasts, the question for event organisers is no longer if weather will intervene, but when – and whether their plans and their insurance are structured to respond. Crowd Science: The New Language of Event Risk Management Craig Sheridan brought the webinar's most technical dimension: the emerging discipline of crowd science and its application to risk planning, insurance underwriting, and claims prevention. HDInsights LIVE: When the show can’t go on Technology is now deeply embedded in this discipline. Behavioural analytics systems applied to CCTV feeds can count crowds, measure flow rates, and – through analysis of millions of indexed facial expressions – assess crowd mood in real time. Heat mapping changes colour as density increases or mood shifts. “If a crowd all moves at once, you know they are worried about something,” Mr Sheridan said. When Things Go Wrong: The Loss Adjuster's View Jake Carter of Carter Briggs Hurle, HDI's loss adjuster for all entertainment business, provided the claimsside perspective – and a candid account of where insureds most commonly compromise their own position. HDInsight Edition 10 - page 21 HDInsights Edition 19 | page 8 Advice for Brokers and Underwriters: “Plans written for their own sake offer little protection when it matters most. Ask who wrote the plans, verify their credentials, and confirm the documentation has been tested. A robust risk register, detailed mitigation strategy, and verified residual risk assessment – supported by tested emergency and crowd management plans – are the baseline expectation for wellgoverned events.” The Crowd Management Framework Risk managers and event insurers are increasingly aligning to the DIM-ICE methodology for crowd management assessment: D – Design of the event site and people movement I – Information provided to patrons M – Management: C4 structure (command, control, coordination, communication) I – Ingress C – Circulation E – Egress Crowd density thresholds are precise and consequential. A transient crowd, such as those moving through Vivid Sydney's 23-night programme, is managed at around two persons per square metre. A static mosh pit environment can accommodate up to four per square metre – but only if there is room to move at the back and pinch points have been eliminated. Evacuation planning is equally scientific: the accepted flow rate is approximately 82 persons per square metre per minute on a level surface, and best practice under the Green Guide targets full evacuation within eight minutes. “That is how we plan back to how many gates we need,” Mr Sheridan explained. Craig Sheridan Managing Director, Sheridan Consulting Group “When something goes wrong, the worst thing you can do is make decisions based on whether the policy responds. Ask yourself: What would I do if I had no coverage? Base your decisions on that – on safety, on professional advice, on doing the right thing.” Jake Carter Loss Adjuster, Carter Briggs Hurle Limited
iii HDInsights LIVE: When the show can’t go on The most common failure, Mr Carter said, is delayed notification. The most extreme case he has encountered involved notification received six months after an event had been cancelled. The decision to cancel appeared to have been made correctly, but by the time the claim was lodged, weather data had been lost, and the nearest monitoring station was some distance from the remote venue. “Had we been notified on the day,” Mr Carter said, “we could have sent someone to walk with the insured or at least conducted a video call and advised on what evidence to capture.” The most sensitive claim of Mr Carter's career illustrated the stakes in the starkest possible terms. A large concert was scheduled in Christchurch on the day of the 2019 terror attack. The CBD was cordoned off, and the event was impossible to hold. Many in similar positions would not have known their policy contained a terrorism clause. “Fortunately for this policyholder, it was there,” Mr Carter said. “We worked quickly with the event organisers, confirmed the coverage response, and refunds were arranged very swiftly.” HDInsight Edition 10 - page 21 HDInsights Edition 19 | page 9 HDI's Expanding Product Suite Five Things Brokers Can Do to Improve Claims Outcomes 1.Notify early: Contact the loss adjuster as soon as an incident becomes possible – not after the event has already been cancelled. 2.Document everything in real time: Save weather reports, record decisions, photograph conditions. Evidence lost in the hours after an event cannot be reconstructed. 3.Explore mitigation first: Insurers and adjusters want events to proceed. Additional security, floor matting, and other measures can reduce losses and keep events viable. 4.Check limits two weeks out: Budgets change. Under-insurance is a genuine and recurring issue in this industry. 5.Act as a prudent uninsured: Decisions should be based on safety and operational grounds – not on whether the policy will respond. Event Cancellation – financial loss protection against weather, terrorism, and other event-disrupting perils; covers additional costs incurred to save an event from cancelling Event cancellation remains the core product, representing approximately 75% of HDI's Australian entertainment portfolio. Unlike standard business interruption cover, it is designed specifically for the financial exposures of the live event industry – weather, terrorism, non-appearance, and the dozens of other triggers that can cause an event to fail. Policies are built collaboratively from first principles: “We start with a blank canvas,” Mr Milne said, “and assess how an event looks and where it has problems.” "Every event has its own unique triggers. We tailor coverage to those needs – but the key is engagement upfront, understanding how an event works and what happens when things go wrong." Chris Milne Underwriting Manager for Contingency and Entertainment, HDI Global Australia Non-Appearance – performer-specific cover for death, accident, illness, and travel delay This cover addresses the specific risk of performers failing to appear due to death, accident, illness, or travel delay. Mr Milne flagged the importance of contractual engagement: force majeure clauses in artist agreements have a material impact on how claims respond, and brokers are strongly encouraged to involve HDI in contractual reviews before placement rather than at claims time. Prize indemnity – chance-to-win promotional cover including hole-in-one, halftime activations, and games of chance This product covers promotional mechanics such as hole-in-one insurance, halftime activations, wheel spins, and envelope draws. It was identified as a significant growth area. The product allows organisations to offer large prizes as marketing tools, with insurance capping their actual exposure.
iii HDInsights LIVE: When the show can’t go on Event Liability (now formally available) – short-term and annual liability for sports, events, and leisure operators. HDI's sports, events, and leisure liability product, softlaunched in October 2025, is now formally available to market – on both a short-term and annual policy basis. Film, TV & Media Production (now formally available) – modular package covering property, liability, cast & crew, media, equipment, and production venues HDI released a film, television, and media production package product in April 2026 – a modular offering encompassing general property, liability, cast and crew non-appearance, media damage, equipment cover, and protection for production studios and venues. “This has come directly from broker feedback,” Mr Milne said. “Brokers have been telling us they are looking for an alternative solution in that market.” “The more we understand, the more we can help. We want to tailor coverage and give you the best deal – not overcharge based on not knowing.” Chris Milne Underwriting Manager for Contingency and Entertainment, HDI Global Australia Contact - HDI HDInsight Edition 10 - page 21 HDInsights Edition 19 | page 10 Practical Guidance: Getting the Best from Your Insurance Mr Milne closed with some more practical recommendations for brokers – drawn from his own experience on both sides of the market. Detailed submissions make better outcomes possible. Proposal forms capture the minimum information needed to assess a risk; the more context, planning documentation, and scenario thinking brokers can share, the more informed and competitive HDI's underwriting response can be. Contractual engagement matters on nonappearance risks. Without understanding how an artist is contracted, HDI must take a conservative approach to both coverage and pricing. Early engagement almost always produces better outcomes for all parties. Timing coverage placements out of season can unlock better terms. Events seeking bushfire cover in December or January – when fire risk is visible and immediate – will face a very different underwriting appetite than the same events approaching HDI in June. Checking limits two weeks before an event is simple discipline with real financial consequences. Budgets change, production costs escalate, and under-insurance remains a recurring issue that manifests only when a claim is already in progress. Claims are only as good as the documentation behind them. When things go wrong, large events can generate over a thousand invoices to reconcile. Having headline budget figures ready and being able to match them to supporting documentation quickly will significantly expedite the claims process. Adriana Giometti Head of Marketing and Communications, Australasia 0409 699 119 Adriana.Giometti@hdi.global Chris Milne Underwriting Manager for Contingency and Entertainment 0456 825 371 Christopher.Milne@hdi.global Learn More
Geopolitical Risk: From Cyprus to West Papua The “unpredictability” of the modern era is perhaps best illustrated by the exposure Jones currently carries to aircraft in Cyprus. These assets, operated by an Australian company on a firefighting contract, serve as a reminder that even niche, civil utility work can suddenly intersect with global flashpoints without warning. While the Middle East conflict has had a limited direct impact on the Asia-focused portfolio Jones oversees, he acknowledges that the fundamental geopolitical climate has changed since 2022; even a routine firefighting mission can now find itself operating on the periphery of a major war zone. Flying Through Uncertainty: How HDI Navigates the Global Aviation Insurance Market Flying through uncertainty: How HDI navigates the global aviation insurance market HDI has been providing insurance solutions for the aviation and space industry for more than 50 years, and its Asia-Pacific operation reflects a deliberately decentralised philosophy. With offices in Brisbane, Sydney, and Melbourne, the team runs its business across Asia – covering everything from the smallest light aircraft through to airlines, airports, and satellite launch risks. Dylan Jones, Head of Aviation at HDI Global Specialty SE for Australia, New Zealand and the Asia-Pacific region, describes the local appetite as centred on General Aviation: aircraft configured with less than 72 passenger seats. Above that threshold sits the airline and major-risk category. But the reach does not stop there. HDI underwrites aerospace liability risks for aircraft, engine, and component manufacturers, airports, ATC and security providers, MROs, refuellers, banks, and leasing companies. “From fixed-wing to rotor-wing and airport risks, our appetite is broad across the range of General Aviation products and solutions,” Jones says. In the space sector, HDI offers – via the London office – a full range of products covering pre-launch campaigns, in-orbit operations, and Third Party Liability. HDInsights Edition 19 | page 11 From geopolitical flashpoints to electric aircraft prototypes, aviation insurance is confronting risks that are more complex, more interconnected, and faster-moving than ever before. In a market that is currently challenging, broker expertise and the right underwriting partner matter more – not less. Globally, the coverage suite is equally comprehensive. Clients can access Hull damage and Hull Deductible insurance, Third Party and Passenger Legal Liability, Personal Accident for passengers and crew, Loss of License cover, Spares damage, Cargo Legal Liability, and War risks. HDI also offers a full range of tailored solutions. Closer to home, the risks take a more direct and violent form. HDI Australia writes significant business in Indonesia, and West Papua has become a region of ongoing tensions where the “safe” margins of regional aviation are of concern. Jones recounts a series of grim escalations: a New Zealand pilot was held captive for 19 months by militia before being released, while in a separate incident, two Smart Air pilots were shot dead by militia immediately after landing in the territory. In yet another case, an aircraft was completely destroyed by militants on the ground. These are no longer abstract geopolitical shifts, but immediate, physical threats to crews and hulls.
Market Dynamics: Changing Pricing Momentum and a Stronger Case for Co-Insurance In 2026, competitive market dynamics are reshaping buyer expectations and challenging underwriters to maintain pricing discipline. For brokers and clients, it creates opportunity – but also a risk of chasing capacity into arrangements that do not hold up over time. War Risks: Structure and Case Law Aviation insurance operates with a distinct policy architecture that brokers need to understand. A standard hull liability policy runs in parallel with a separate hull war policy, which covers war risks, civil commotion, strikes, malicious damage, and active terrorism – all of which are excluded under the primary policy. A specialist subset of insurers typically underwrites this layer. The legal landscape around war risks was reshaped significantly by litigation arising from Russia’s invasion of Ukraine and the subsequent seizure of leased aircraft by Russian authorities. The landmark Commercial Court ruling in AerCap Ireland Ltd v AIG Europe SA & Ors (2025) determined that lessors suffered a permanent loss on 10 March 2022, under Russian Government Resolution No. 311, qualifying as “restraint” or “detention” under war risks cover. The judgment also clarified that sanctions do not bar payments to non-Russian lessors under EU and US rules, as the policies were issued outside Russia. Flying through uncertainty: How HDI navigates the global aviation insurance market HDInsight Edition 10 - page 21 HDInsights Edition 19 | page 12 War policies generally include mechanisms for insurers to manage prolonged conflict exposure: cancellation provisions and rights to amend geographical limits/terms or revoke coverage exist within the policies (very similar to the Marine market) and also automatic cancellation applies upon the detonation of a nuclear weapon or major conflict between the five powers (Russia, the US, the UK, France, and China). Markets can and do invoke these provisions to avoid accumulating open-ended war exposures when the risk profile shifts materially. For grey-zone risks – sabotage and cyber-attacks – aviation insurance is not the first line of response unless physical damage to an aircraft or ground infrastructure results. Operational disruptions to booking systems and airport screening tend to fall under cyber or political risk policies. As a leading underwriter in this space, HDI's answer to market cyclicality is structural rather than reactive: maintaining a co-insurance position that spreads risk across a panel of insurers, preserving stability for clients regardless of where the market sits. “Co-insurance supports stability where rates are sustained because one risk can’t wipe out an entire year’s worth of premium for one underwriter,” Jones says. “Relationships hold true in a panel of insurers, and clients are better looked after than if they had to find one insurer to replace their whole program.” The COVID-19 period illustrated the dangers of capacity volatility. The pandemic coincided with a hard market: withdrawal of capacity driven by global uncertainty pushed rates up even as fewer aircraft were flying. The resulting positive insurance results attracted new entrants – the familiar boom-and-bust dynamic that co-insurance structures are designed to dampen. Jones’ primary advice for operators operating in the current environment: pair with a strong expert broker who knows the local aviation market and can structure the deal correctly, with a long-term strategic focus. The difference between a well-constructed programme and a gap-riddled one is not visible until a claim arises.
Contact - HDI Electric Flight and the Innovation Frontier The growth horizon for aviation is broadly positive – ageing but wealthier populations, major airline fleet renewals, and strong pilot training demand from India and China all point in one direction. But the grassroots level tells a more complicated story: training schools struggle to keep pace, and attracting engineering talent is increasingly difficult given the competition from mining and the trades. Emerging technologies present a separate set of underwriting challenges. Alexander Malik, Head of Aviation at HDI Global SE Germany, points to the regulatory gap that typically accompanies technical progress. “The transition to electric power is not without challenges. Regulation and liability regimes typically lag behind technical developments.” Flying through uncertainty: How HDI navigates the global aviation insurance market HDInsight Edition 10 - page 21 HDInsights Edition 19 | page 13 Dylan Jones Head of Aviation Australia, New Zealand and the Asia-Pacific region HDI Global Specialty SE P: 0408 379 928 Dylan.Jones@hdi.global The risks are not theoretical. In January 2020, an allelectric prototype from Eviation caught fire during ground testing at an Arizona airport, reportedly linked to overheating lithium-ion batteries – a known hazard when these cells are damaged or exposed to high temperatures. The incident is a reminder that prototype risks carry real loss potential before regulatory frameworks have caught up. HDI’s response is to compensate for the absence of historical data with experience, expertise, and close client engagement. As Malik puts it, insurance is an important facilitator of innovation – and the willingness to engage thoughtfully with electric and autonomous flight risks is a defining feature of HDI’s approach to the general aviation sector. HDI Aviation at a Glance 50+ years in aviation and space insurance Australian offices include Brisbane, Sydney and Melbourne – same time zone, same business day General Aviation to airline, airport, aerospace, and space risks Strong market lead capability with willingness to accommodate co-insurance approach for long-term market stability Global appetite with solutions for Hull, Liability, War, Spares, Cargo, Loss of License, Personal Accident, and Space covers Decentralised model: underwriters on the ground, close to clients and brokers
Ready to Strengthen your Cyber Resiliency HDI Global Cyber Package We are HDI. #PartnerInTransformation Unlock cyber resilience through insurance solutions, risk engineering expertise and innovative partnerships. HDInsights Edition 19 | page 15
AI with Purpose: A Conversation with Claudia Nelson and Nicky Loreto-Dicks AI with purpose: A conversation with Claudia Nelson and Nicky Loreto-Dicks Let's start with the question everyone's really thinking: Will AI replace us? Nicky: (laughs) There's still hope for humanity. AI is clever – but it still needs us for judgment, creativity, and common sense. At HDI, it’s human-led – empowered by AI. The key word is empowered. Claudia: AI can help us with a lot of activities but there are core, human-centred activities we need our people to focus on, like building relationships with our customers, with humans. . HDInsights Edition 19 | page 15 Artificial intelligence is reshaping industries at speed – but what does that really mean for insurers, brokers, and the people driving the change? We sat down with Claudia Nelson, HDI's Head of Portfolio Management and Transformation APAC, and Nicky Loreto-Dicks, HDI's Regional Chief Information and Transformation Officer APAC, to find out. Claudia Nelson at a glance Head of Portfolio Management and Transformation, APAC – HDI Global SE Based in Sydney, Claudia Nelson leads operations and portfolio management for HDI Global SE across Australasia. She brings deep expertise in digital transformation and strategy, having held senior executive roles at Woolworths, Commonwealth Bank, and leading consulting firms. Claudia helped launch WooliesX and has led major product and platform initiatives across sectors. She holds degrees from Germany and Australia and recently completed an executive program at Harvard. She is passionate about innovation and cross-functional team leadership and actively mentors the next generation of leaders. Between you, you oversee a region stretching from Asia-Pacific to the Middle East – an enormous brief. What excites you most, and what keeps you up at night? Nicky: The scale of the opportunity is genuinely exciting. These are vast, diverse markets with different levels of maturity, different regulatory frameworks, and real cultural richness. AI gives us tools to improve decision-making quality for underwriters and brokers in ways that simply weren't possible before. That's exciting. What keeps me up? The responsibility that comes with it. Move too fast and you risk losing trust. Move too slowly and you risk becoming irrelevant. We're very conscious of that balance as we scale across the region. Claudia: Cultural diversity is actually one of our greatest assets. We're one team with shared values, shared goals, and genuine curiosity about each other's markets. Technology has made geographical distance almost irrelevant, and our corporate culture helps to connect with teams easily. That sense of connection is what turns a diverse region into a genuine strength and one large team. The different branches across the region offer key opportunities to pilot, test and scale-up across the region. Working and achieving goals together and growing our business together excites me every day.
AI with purpose: A conversation with Claudia Nelson and Nicky Loreto-Dicks Where do you see the most transformative AI opportunities in practice – not in theory, but in the day-to-day reality of insurance? Nicky: The biggest shift is time – specifically, what people can do with it when AI handles the routine. Think about the manual work an underwriter does today: keying in data, researching information, running analysis. AI agents can work alongside them on all of that. What you free up is the capacity for critical thinking, for building relationships, for the work that actually requires a human. A tangible example: Microsoft Copilot has now been rolled out across HDI, and the feedback is clear – it's genuinely helping people make better decisions, faster. Claudia: And that has a direct impact on trust, which is everything in this industry. When our business partners understand what decision was made and also why and how, it creates transparency and builds trust and confidence. AI can significantly decrease complexity and make workflows simpler for the human. Our teams at the centre of our business and trust are key. You're both women leading at the cutting edge of transformation. What role can female leaders play in shaping how AI evolves? Claudia: Building AI requires a deep understanding of the business first – that means listening, forming genuine relationships, and understanding the real problems. This human-centred lens, the focus on “what do people really need here?” – is something female leaders often bring naturally. And it is exactly what AI implementation demands. Nicky: It also requires seeing AI as a crossorganisational challenge, not a technology project you hand off to IT. The implementation is where most AI initiatives succeed or fail – and that means change management, collaboration, building trust across teams. These are fundamentally people skills. Claudia: Importantly though, I wouldn't frame this as purely a female leadership advantage. It's a universal leadership quality. The best implementations – and the ones we're pursuing at HDI – are the ones where everyone, at every level, feels part of the whole journey. HDInsights Edition 19 | page 16 Nicky Loreto-Dicks at a glance Regional Chief Information and Transformation Officer – APAC – HDI Global SE Nicky Loreto-Dicks is Regional Chief Information and Transformation Officer for Australasia at HDI Global SE, a role she has held since July 2025. She is responsible for shaping and delivering the technology and transformation strategy across the region, with a strong focus on enabling business performance through digital innovation. Prior to joining HDI, Nicky served as CIO and Global Head of Technology at Hannover Re, where she led large‑scale global transformation programmes. She has also held senior technology leadership roles at AMP Capital and Westpac and is recognised for building and leading high‑performing global teams.
Contact - HDI AI with purpose: A conversation with Claudia Nelson and Nicky Loreto-Dicks HDInsights Edition 19 | page 17 Finally – both of you have had significant careers before HDI. How has that shaped the way you think about this next chapter? Nicky: Involving the business early, you need to understand what the business genuinely needs, then go build it. Business driven but empowered by IT. Find the balance between being proactive and building something that adds value. That mindset has served me across every industry I've worked in. Claudia: Empowerment, clear goals and accountabilities are key. Having led and seen major disruptions in several organisations, the ones that really succeeded were the ones that gave people the space to think big and solve real problems – not just to be involved, but to actually lead. Innovation can't be centralised. It was said at our last town hall and it's true: the best ideas can come from anyone, anywhere. Our job is to create the environment for this and achieve innovative outcomes – as a challenger. Nicky: Which is ultimately what AI should do too – give people more space to think, to create, to build relationships. Business-driven, powered by AI. That's the thread that runs through everything we're doing. HDI's values – Together, Ownership, Performance – are fundamentally human values. How do you keep people at the centre of a transformation driven by technology? Claudia: By not letting technology be the starting point. Our people are. We're business-driven, enabled by technology – not the other way around. When we're making changes, we involve the business early, we explain the why, and we give people a genuine role in shaping the decisions. When someone feels like they're part of the journey, they don't feel lost in the transformation – they drive it. Nicky: And we communicate constantly. Newsletters, town halls, open conversations like this one. People want to know what's happening. Transparency isn't just good AI practice – it's good leadership practice. Claudia Nelson Head of Portfolio Management and Transformation, APAC HDI Global SE, Australia P: 0433 743 865 Claudia.Nelson@hdi.global Nicky Loreto-Dicks Regional Chief Information and Transformation Officer - APAC HDI Global SE, Australia P: 0407 585 026 Nicky.Loreto-Dicks@hdi.global
Building a Bridge HDI Global's New Seoul Office and the Opportunities that Await in one of Asia's most Dynamic Insurance Markets HDI Global's new Seoul office and the opportunities that await in one of Asia's most dynamic insurance markets Korea is a market that demands attention. With a total P&C insurance market valued at approximately EUR 80 billion, it ranks among the largest in Asia. Yet for HDI Global, the decision to open a Seoul representative office in January 2026 was about more than market size. It was about proximity. “Korea is a logical next step in our growth agenda,” says David Hullin, Member of the HDI Global Executive Board. “We want to act as clients' and brokers' preferred Partner in Transformation – thinking globally and acting locally.” HDInsights Edition 19 | page 18 Hyundai Motors and LG Electronics are pushing the boundaries of electric vehicles and autonomous technology, with Samsung investing in robotics through Rainbow Robotics. Korea's defence sector – led by companies such as Hanwha Aerospace, Hanwha Ocean, LIG Nex1, and Hyundai Rotem – has become a major international force as global demand for advanced defence systems accelerates. For an insurer with HDI's specialist capabilities, the implications are significant. "Across AI, electric vehicles, robotics, energy, and advanced manufacturing, Korean companies are at the forefront of providing essential technology," Jo says. “I am delighted to be joining HDI Global at such an exciting time. Our local presence in Seoul enables us to support Korean clients closely and on the ground.” Ki Hyung Jo Market Lead Korea With the opening of a representative office in Seoul, HDI Global is making its most significant move yet in the Asia-Pacific region. Market Lead Ki Hyung Jo explains why Korea is the right market at the right time – and what it means to build a bridge between a global insurer and one of Asia's most dynamic economies. A Market Transformed by Technology Korea's economic story is inseparable from its industrial ambitions. Across semiconductors, clean energy, mobility, defence, and biotech, Korean companies are not just participating in global technological change – they are leading it. Samsung Electronics and SK Hynix dominate the HBM memory market, critical to the AI revolution. LG Energy Solution and Korea Hydro & Nuclear Power are building the energy infrastructure that AI data centres demand. Where HDI's Strengths Meet Korea's Needs HDI's approach in Korea is targeted and deliberate, anchored in lines where the insurer holds genuine competitive advantage. Liability – and pharmaceutical liability in particular – is a primary focus. HDI's underwriting capability extends to clinical trial insurance, medical device liability, and medical malpractice: specialist products that many competitors simply cannot match.
In the mobility sector, HDI is already an established player, covering LG Energy Solution's product reliability and providing liability solutions for EV batteries. ESG-related risks are another priority, with HDI developing solutions around environmental liability, carbon credit markets, and carbon reduction – areas of growing urgency for Korean corporates. Supporting Korean Companies Going Global One of HDI's most compelling propositions for Korean clients and brokers is its ability to follow Korean companies as they expand internationally. Korean manufacturers are building facilities in the United States and Europe at pace, particularly across battery, AI, and robotics sectors. HDI's network of more than 175 countries positions it uniquely to support Korea Interest Accounts abroad, providing tailored coverage from construction through to the full operational lifecycle of overseas projects. HDI Global's new Seoul office and the opportunities that await in one of Asia's most dynamic insurance markets HDInsight Edition 10 - page 21 HDInsights Edition 19 | page 19 New Fronts: Affinity and Specialty Lines Beyond its core lines, HDI is exploring significant opportunities in Korea's affinity market – including mobile phone insurance and extended warranties for home appliances and automobiles. This is already a sizable segment, and HDI recently participated in a mobile phone insurance product developed by Samsung Electronics in connection with a new smartphone launch. “We aim to grow together with Korean companies as they expand globally – providing tailored solutions covering the entire lifecycle of overseas projects, from construction to the operational phase.” Ki Hyung Jo Market Lead Korea A Growing Opportunity in Defence Korea's defence sector represents a distinctly promising opportunity for HDI's marine and specialty lines. South Korea's continuous investment in its defence capabilities has accelerated sharply in recent years, driven by global demand from countries strengthening their own military capacity. The Korean government's Korea Defense Guarantee Cooperative – the mutual organisation that manages most defence-related insurance in Korea, including cargo and shipbuilder's risk for naval vessels and submarines – handles a substantial and growing premium volume. Major marine reinsurers have been active in this sector for several years, achieving consistently strong results. HDI is now actively engaging with Korean brokers on this front, with underwriters in Hong Kong reviewing submissions and working closely with Jo on the ground in Seoul. Fast Facts – Ki Hyung Jo Role: HDI Global's first Market Lead in Korea, based in Seoul Experience: 25 years in Korean general insurance, most recently as Chief Underwriting Officer at KB Insurance Expertise: Underwriting, product development, treaty reinsurance, and claims across multiple lines Education: Internal MBA at KB Insurance, and Executive Leadership and Public Policy Program at Seoul National University Languages: Korean, English Off Duty: Ki Hyung Jo is an avid golfer and mountain hiker. “Golf is a very honest sport,” he says. “Your results are a direct reflection of the time and effort you invest.” Korea Insider Tips: Visiting Seoul? Ki Hyung Jo recommends Namsan Mountain – a landmark right in the heart of the city. A cable car makes it accessible for all fitness levels, and the view from the top is spectacular. “Korean people are very welcoming,” he adds. “Showing basic respect and courtesy is all you really need.”
HDI Global's new Seoul office and the opportunities that await in one of Asia's most dynamic insurance markets Contact - HDI An Agile Model Built for the Market The Seoul office operates in close collaboration with HDI Global Hong Kong, whose CEO Michael Ahn describes the opening as “a significant milestone.” Core functions – underwriting and claims – are handled from Hong Kong, while Jo manages broker, client, and cedent relationships directly on the ground in Seoul. It is a deliberately lean setup, but an effective one. Brand awareness remains a genuine task ahead – unlike Munich Re or Allianz, HDI is not yet a household name in Korean insurance circles. Jo is clear-eyed about his role in changing that. “Building the bridge between HDI's global capabilities and Korea's market, resulting in achieving sustainable and profitable growth,” this is, as he puts it, exactly what he is there to do. HDInsight Edition 10 - page 21 HDInsights Edition 19 | page 20 Ki Hyung Jo Market Lead HDI Global SE, Korea John.Jo@hdi.global The automobile extended warranty market is also attracting attention. An HDI underwriting leader from Hong Kong is due to visit Korea to meet with a thirdparty administrator and assess risk control processes – a signal of how seriously HDI is evaluating the opportunity. Once embedded in an affinity programme, insurers benefit from deep IT integration and stable, long-term relationships that are difficult for competitors to displace. Other specialty lines being introduced progressively include event-cancellation cover for large K-pop productions and surety solutions for Korean contractors operating abroad – further illustrations of how HDI is aligning its portfolio with the specific contours of Korea's economy.
2025 was a strong year for HDI Global Australia, driven by disciplined underwriting, profitable growth, and continued success in International Programmes. Close collaboration across teams and a strong position in renewable energy further reinforced HDI's role as a trusted partner in a competitive market. Asia Pacific and the Middle East contributed to the positive overall result of the Germany-based multinational insurer belonging to the Talanx Group. HDI Global Reports Strong 2025 Financial Results, with Asia Pacific and Middle East Momentum Reinforcing Group Performance HDI Global reports strong 2025 financial results, with Asia Pacific and Middle East momentum reinforcing group performance A strong year in a competitive market “2025 was a strong year for our business, particularly given the competitive market environment,” says Stefan Feldmann, Head of HDI Global Asia Pacific and Managing Director HDI Global Australia. Australia continued to grow profitably through disciplined underwriting and deeper relationships with brokers and clients. International Programmes once again proved to be a powerful growth engine, with HDI winning new multinational partnerships and further expanding its capabilities – from captives to alternative risk transfer solutions. “At the same time, we strengthened our position as a trusted partner for renewable energy, where we are among the market leaders for construction and operational risks. What truly stood out, however, was how closely our Corporate and Specialty Units worked together. We approach the market as an engaged and close-knit team where people genuinely care for each other,” Feldmann added. On a worldwide scale, HDI Global increased insurance revenue in the 2025 financial year by 5 per cent after adjustment for currency effects (growth in EUR: 2 per cent) to EUR 10.3(10.0)billion. The growth resulted predominantly from new business as well as inflationrelated price adjustments in existing business. Large loss payments rose slightly to EUR426(402)million, but fell significantly short of the budgeted figure by EUR125million. The insurance service result remained stable at EUR 997 (1,004) million. HDInsights Edition 19 | page 21 HDI Global has reported positive financial results for 2025, with profitable growth in both revenue and earnings. The main drivers were new business growth, disciplined underwriting, and inflationrelated price adjustments. Across the broader region, HDI Global Singapore strengthened its market position by enhancing its proposition across key product lines – including new offerings in Accident & Health, Financial Lines, and Upstream Energy – while deepening engagement across major regional industry forums. Meanwhile, HDI Global Dubai completed a landmark first full year of operation, more than doubling its team in size, launching Liability and Power as new local lines of business, and establishing a solid reputation in the highly competitive MENA market. HDI Global Hong Kong also marked a significant year, welcoming several new talents to the team and achieving strong growth that has laid a solid foundation for future developments across North Asia.
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