International broker Price Forbes has appointed Suvimol Sathanart (pictured) to head its property division across Asia, effective immediately.
Based in Singapore, she will report to Julian Coates, chief broking officer, and be responsible for advancing the firm’s property strategy throughout the region.
Sathanart assumes her new position with more than 20 years of experience in non-life insurance, having worked across key regional and global markets including Thailand, Singapore, and the US. Her background spans both insurance and reinsurance, with a focus on structuring placements in the ASEAN market.
Before joining Price Forbes, she was part of the executive leadership at Direct Asia (Thailand), where she oversaw underwriting and quality assurance. She also previously held senior roles at Marsh, Guy Carpenter, and Asian Reinsurance Corporation.
Her experience includes property, casualty, motor, engineering, and marine & energy classes.
Commenting on the appointment, Coates said Sathanart brings a depth of technical skill and familiarity with the Asia market that aligns the firm’s strategic growth plans in the region.
“I’m delighted to welcome Suvi to the team, whose appointment reflects our continued investment in high-calibre talent. With proven leadership ability, strong technical expertise, and deep relationships across the region, Suvi will be a tremendous asset to Price Forbes and our clients,” he said.
Sathanart said she welcomed the opportunity to help shape the firm’s expansion in the region.
“I’m genuinely excited to join Price Forbes, which has expanded considerably recently, attracting some impressive talent and gaining momentum as a growing presence in Singapore. I look forward to working with Julian and the property team to further develop our proposition and expand the choice we offer to our clients in this important segment,” she said.
The timing of this appointment coincides with continued change in the global insurance environment.
Aon’s Q4 2024 Global Insurance Market Insights noted a more favourable market for buyers in several lines, including property, cyber, and D&O, driven by increased capacity and softer rates for accounts with strong performance.
However, insurers remain cautious with natural catastrophe-exposed assets, especially in regions that have experienced significant losses.
In cyber insurance, competitive pressure has led to lower premiums and expanded coverage for businesses demonstrating sound cyber hygiene.
Directors and officers liability insurance also remains relatively stable, although price softening has slowed as insurers focus on profitability.
On the casualty front, the outlook remains mixed. US-related exposures face ongoing challenges due to adverse legal trends, such as large jury awards and the rise in litigation financing.
Pricing for excess liability continues to climb, and insurers have broadly applied exclusions for per- and polyfluoroalkyl substances (PFAS).
A Moody’s analysis of insurers in Asia-Pacific markets revealed that while carriers in China, Japan, and Taiwan face lower insurance risk than their US counterparts, they are exposed to greater asset risk.
This is due to higher allocations to equity and credit investments, which constitute nearly 30% of capital requirements – significantly more than US insurers.
Insurers across the region are now reducing their exposure to these assets while reallocating capital to support diversified growth strategies. These shifts aim to improve capital efficiency and risk resilience amid market uncertainty.
Japanese insurers in particular carry elevated catastrophe exposure, which accounts for a notable share of their capital requirements.
In contrast, Chinese and Taiwanese firms are increasingly leveraging reinsurance to manage these risks.
