Media OutReach
Allianz Commercial: Insurance market for hydrogen could reach more than US$3 billion by 2030
- Hydrogen demand could increase fivefold by 2050, while clean production may rise to 60% by 2035, driven by significant investments and planned projects globally.
- While market potential for hydrogen is very high, there are lots of unknown variables and risks for setting up a robust and secure infrastructure.
- The insurance sector has an important role to play in the hydrogen economy, addressing risks across the supply chain, from construction and production through to the end user, and through direct investment.
SINGAPORE – Media OutReach Newswire – 30 July 2025 – Hydrogen will play a crucial role in driving the green transition with demand expected to surge in the coming decades. Around 60 governments have adopted hydrogen strategies, while the number of planned projects is already exceeding 1,500 globally compared to around 200 in 2021 – an increase of around 600%. To realize these projects, a total investment volume of US$680bn until 2030 may be needed, according to the Hydrogen Council and McKinsey, which will trigger a greatly increased demand for insurance to protect against risks as this investment is activated. Europe is leading the way by far with 617 planned projects and the highest total investment announced at $199bn.
While the potential of hydrogen is undoubtable, there are still challenges and headwinds to overcome. The potential size and scope of the hydrogen economy will depend on a range of factors including the evolving political, trade, and economic environment, as well as demand. Policymakers and regulators need to address costs for the development of the infrastructure, so that scaling up at a competitive level towards other energy sources is possible. Across all industries, stringent safety measures will be vital to manage hydrogen’s inherent risks. This is where the insurance industry comes into play. As hydrogen becomes integrated into the global economy, insurers can expect to see a significant increase in demand for coverage, with Allianz Commercial expecting the insurance market for hydrogen project coverage to grow to over US$3 billion in premiums by 2030.
“Insurers have a key role to play in the development of the hydrogen economy, enabling investment and innovation, and providing risk management advice and guidance. Collaboration and knowledge-sharing within this industry are essential for developing best practices and building expertise. By addressing these multi-faceted challenges, the insurance sector can support the growth of the hydrogen economy and help facilitate the transition to net-zero emissions,” says Anthony Vassallo, Global Head of Natural Resources at Allianz Commercial.
Hydrogen offers great potential in Asia Pacific, but challenges and risks remain
While it holds much promise and has been used in the chemical and refinery sectors for many decades, with risks such as fire, explosion and embrittlement being already well-known, the integration of hydrogen into other industries brings a range of challenges with currently planned mega projects requiring a scale-up of risk management. Energy production facilities will involve hydrogen storage and high-temperature combustion, which can lead to leaks and explosions. In transport, applications like hydrogen fuel cell vehicles will also face risks of hydrogen embrittlement and leaks. Port operators, bunkering facilities and fuel handlers will need to manage highly flammable and cryogenic hydrogen fuels, bringing accident and contamination risks.
“Hydrogen holds significant promise in driving the energy transition across the Asia Pacific region, and we are already seeing power generation projects being developed that are designed to run with hydrogen as a potential fuel source. Further collaboration between countries can also be expected, in areas such as storage and transportation infrastructure, that will help to accelerate the deployment of hydrogen in the region. Allianz Commercial, with its proven expertise in low-carbon and energy sectors, is dedicated to supporting clients on their sustainability journey,” adds Trent Cannings, Regional Head of Natural Resources & Construction and Head of Specialty Hub at Allianz Commercial Asia Pacific.
Risk management and mitigation are crucial for hydrogen projects
Given hydrogen’s unique properties and high combustibility, ensuring safety throughout the value chain is crucial. Analysis of hydrogen-related incidents shows that undetected leaks can easily lead to explosions; equipment design, maintenance and training can help prevent the escape of flammable hydrogen gas, while the risks of ignition can also be reduced by locating hydrogen facilities in the open. Embrittlement risks can be managed using hydrogen-compatible materials and specifically designed resistant coatings. In addition to preventing incidents, organizations can take steps to limit the extent of property damage, business interruption, and third-party liability. Buildings and facilities should be designed and constructed to withstand natural hazards, fire and explosion, and limit damage to adjacent property and equipment. Robust hydrogen leak detection and isolation systems are also paramount. Human error is also a common factor in large losses. Operational, safety, emergency procedures, and training should be frequently updated, including having robust and well-rehearsed plans in place for accidental releases.
“Given the wide reach of the hydrogen value chain and its potential uses, the implications for insurance could be far-reaching, touching on multiple sectors and lines of business over the next decade. However, from an exposure and potential claims perspective, product lines such as Energy, Natural Resources and Liability are likely to see the biggest impact from hydrogen risks over the next five to 10 years, followed by Property and Marine,” explains Vassallo.
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financial strength, and network of the world’s #1 insurance brand, we work together to help our customers prepare for what’s ahead: They trust us in providing a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and Multinational services as well as seamless claims handling. Allianz Commercial brings together the large corporate insurance business of Allianz Global Corporate & Specialty (AGCS) and the commercial insurance business of national Allianz Property & Casualty entities serving mid-sized companies. We are present in over 200 countries and territories either through our own teams or the Allianz Group network and partners. In 2024, the integrated business of Allianz Commercial generated around €18 billion in gross premium globally.
Signals Plan to Make Malaysia Regional Compliance Hub
KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 11 February 2026 – XTransfer, the world’s leading B2B cross-border financial platform, was honoured to be invited to join the Malaysia Economic Forum (Forum Ekonomi Malaysia 2026). Bill Deng, Founder and CEO of XTransfer, shared insights on how Malaysia can accelerate technology application and innovation to help micro, small and medium enterprises (MSMEs) scale exports under the 13th Malaysia Plan (13MP), during FEM 2026’s panel discussion, “Made by Malaysia: Accelerating Technology Applications & Innovation”.
Bill was honoured to join YB Tuan Liew Chin Tong, Deputy Minister of Finance of Malaysia, and Mr Ooi Ching Liang, Senior Director of Engineering at SkyeChip, for a discussion focused on strengthening high-growth, high-value industries, advancing R&D commercialisation, increasing productivity and competitiveness, and supporting MSMEs in global value chains.
Drawing on XTransfer’s work with MSMEs across markets, Bill noted that many Malaysian businesses are “able to export,” but face persistent barriers to scaling exports. The most common issues are trust, compliance, and scale, which often surface as payment delays, repeated documentation requests, FX uncertainty, and working capital pressure as orders grow.
“For B2B SMEs in foreign trade, the biggest constraint isn’t demand. It’s the operational complexity behind cross-border payments, foreign exchange, and compliance,” Bill said. “In particular, AML requirements can be difficult for both traditional banks and SMEs to manage efficiently, creating friction that slows down legitimate trade.”
Bill highlighted a structural shift in global trade flows from a single dominant corridor to non-U.S., intra-Asia, and broader South–South routes. This trend is increasingly clear in real SME transaction patterns. Bill shared, “In 2025, XTransfer’s average collection amount from Asia, Africa, and Latin America grew by 106% year-on-year, with Africa exceeding 270%, Latin America reaching 94%, and ASEAN reaching 82%.” YB Liew noted the trend and thinks it is a direction Malaysia should pursue.
XTransfer also said it plans to establish Malaysia as its regional compliance centre, citing Malaysia’s strong geographic and time-zone advantages, a mature regulatory environment, availability of talent in compliance and risk operations, and cost efficiency. “Malaysia gives us the talent, governance environment, and regional proximity to scale compliance as intra-Asia and emerging-market trade accelerates,” Bill added.
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As the lunar calendar turns its final pages, China enters a period of joyful anticipation known as Xiaonian, or Little Chinese New Year. Often celebrated as the Festival of the Kitchen God, it marks the official start of the “busy year” – a traditional term for the intense, joyful period of preparing food, cleaning homes, and shopping for the upcoming Spring Festival.
The Spring Festival is a deeply significant time for family reunion. In 2024, UNESCO inscribed the “Spring Festival, social practices of the Chinese people in celebration of the traditional Chinese New Year” onto the Representative List of the Intangible Cultural Heritage of Humanity.
While daily routines continue to evolve, they remain anchored in rituals that provide a sense of normalcy and meaning. It is perhaps no wonder that in a climate of uncertainty, traditional Chinese lifestyles are finding a new audience beyond the country’s borders, with the Spring Festival chief among those unique traditions that are fast becoming a shared human experience.
Diverse traditions, shared aspirations
In a prelude to the broader celebrations, Xiaonian, observed on February 10 and 11 this year, kickstarts a focused period of preparation. According to ancient lore, families offer Zaotang, or sticky “Kitchen Candy,” to the Kitchen God to ensure he delivers a favorable report on the household’s conduct before he ascends to the heavens. This lighthearted tradition marks the beginning of several symbolic rituals aimed at welcoming a fresh start.
A key element of this transition is donning new clothes. In Chinese culture, the New Year represents a moment when “all things are renewed,” and wearing new garments symbolizes shedding the “dust” or misfortunes of the past to embrace auspicious energy for the year ahead. Alongside this personal renewal, families nationwide engage in “sweeping the dust,” a deep-cleaning ritual to purify the home and prepare it for new blessings.
Whereas these practices are universal, celebratory flavors vary by geography. In the north, families traditionally gather over steaming plates of dumplings, whereas in the south, the menu often features sweet rice cakes (Niangao) and glutinous rice balls (Tangyuan).
As Mao Qiaohui, a researcher at the Institute of Ethnic Literature at the Chinese Academy of Social Sciences, explains, these variations highlight the inclusive nature of Chinese civilization.
“Although folk customs differ between different regions across China, this diversity reflects the cultural pluralism within the Spring Festival tradition,” she notes. “Different regional identities contribute to a shared pursuit of harmony and reunion.”
The vitality of these traditions is also evident in local craftsmanship. In northern regions like Shandong and Henan, artisans are currently making Huamo, decorated steamed buns, featuring horse designs for the upcoming zodiac year. Meanwhile, in Shuozhou, Shanxi Province, intangible heritage inheritors are carving spirited stallions onto traditional gourds. These creations reflect the regional diversity of the festival and a collective desire for progress in the year ahead.
Cultural dialogue: From global stage to daily life
The festive atmosphere is reflected further in preparations for the Spring Festival Gala (Chunwan), produced by China Media Group.
Recent rehearsals show performances meshing traditional Chinese culture with international artistry. One performance piece combines the wooden clog dance of the Hani and Lisu ethnic groups with the rhythmic tap of Spanish Flamenco and Hungarian folk dance. And with global stars like Jackie Chan and Lionel Richie on the bill, the Gala’s stage is set to become a stage for the world to come together.
The reach of the gala has expanded far beyond a domestic audience. Through the “Spring Festival Gala Prelude” events held in the United States, Russia, France, Italy, and several African nations, the program has become a gateway to Chinese New Year customs and cultural exchange.
This interest extends beyond art and into the lives of people worldwide, as seen in the #BecomingChinese trend. This phenomenon features international social media users adopting elements of Chinese daily life – such as keeping a thermos of hot water handy, wearing quilted indoor slippers or practicing mindful movement with Baduanjin exercises.
The festival is no longer a distant event but a gateway to Chinese lifestyle, rooted in ancient wellness wisdom and constantly updated by modern convenience, and the first step to a journey of exploration into a culture that values ritual, safety and hospitality.
Whether through global broadcasts or shared daily habits, the Spring Festival increasingly strengthens a sense of cultural empathy between China and the rest of the world.
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Media OutReach
De Beers Group and Assouline Celebrate the Launch of “A Diamond Is Forever: The Making of A Cultural Icon 1926-2026”
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About De Beers Group
Established in 1888, De Beers Group is the world’s leading diamond company with expertise in the exploration, mining, marketing and retailing of diamonds. Together with its joint venture partners, De Beers Group employs more than 20,000 people across the diamond pipeline and is the world’s largest diamond producer by value, with diamond mining operations in Botswana, Canada, Namibia and South Africa. Innovation sits at the heart of De Beers Group’s strategy as it develops a portfolio of offers that span the diamond value chain, including its jewellery houses, De Beers Jewellers and Forevermark, and other pioneering solutions such as diamond sourcing and traceability initiatives Tracr and GemFair. De Beers Group also provides leading services and technology to the diamond industry in the form of education and laboratory services via De Beers Institute of Diamonds and a wide range of diamond sorting, detection and classification technology systems via De Beers Group Ignite. De Beers Group is committed to ‘Building Forever,’ a holistic and integrated approach for creating a better future – where safety, human rights and ethical integrity continue to be paramount; where communities thrive and the environment is protected; and where there are equal opportunities for all. De Beers Group is a member of the Anglo American plc group. For further information, visit www.debeersgroup.com.
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