Industry News

Global Healthcare Opportunities (GHO) and CBC Group have announced a definitive agreement to merge, creating the world’s largest dedicated healthcare investment firm with over US$21b in assets under management (AUM). This strategic alliance unites two leading healthcare investors, aiming to enhance global healthcare access and innovation.

The new firm will operate with more than 200 professionals across 13 offices in North America, Europe, and the Asia-Pacific region, which collectively account for 90% of global healthcare research and development spending. This extensive network is set to capitalise on high-growth, innovation-led opportunities in the world’s largest healthcare markets.

The merger will empower portfolio companies to scale internationally, offering investors access to private equity, private credit, and real estate assets focused on healthcare and life sciences. GHO’s North American and European portfolio will gain enhanced access to Asia-Pacific’s dynamic healthcare market, whilst CBC’s Asian portfolio will benefit from global market insights and execution support.

Mike Mortimer, Co-Chief Executive of the new firm, stated, “We are reinforcing our position as dedicated healthcare specialists, expanding our global reach, and empowering our portfolio companies to compete and win in an increasingly dynamic global healthcare market.”

The transaction is expected to close in early 2027, subject to customary conditions and regulatory approvals. Until then, GHO and CBC will continue to operate independently, focusing on their existing fund mandates. This merger marks a pivotal moment for both firms, aiming to accelerate patient access to affordable care and support innovation in addressing unmet medical needs globally.

Nonprofit organisations in Southeast Asia are facing significant challenges due to systemic constraints, according to a new study by The Bridgespan Group. The research, which surveyed nonprofit leaders across Indonesia, Malaysia, and Singapore, found that 70% of respondents identified the lack of long-term, flexible funding as a critical barrier to scaling their impact.

The study comes at a time when private wealth and philanthropic ambitions are growing in the region, yet these have not translated into a stronger nonprofit sector. This is particularly concerning as demand for nonprofit services is increasing due to demographic changes, climate pressures, and gaps in public systems.

Keeran Sivarajah from The Bridgespan Group highlighted the importance of nonprofits, stating, “Nonprofits in Southeast Asia are a critical part of the region’s social fabric, serving as key partners in delivering essential services, informing policy, and catalysing social and climate innovation.”

The research outlines five strategic shifts for funders and intermediaries to strengthen nonprofit impact. These include increasing long-term funding, enhancing capacity-building efforts, and fostering collaboration among stakeholders. The findings underscore the need for a more robust support system to enable nonprofits to meet rising demands effectively.

As Southeast Asia continues to evolve, the role of nonprofits will be crucial in addressing social and environmental challenges. The study’s recommendations aim to equip these organisations with the necessary resources and strategies to achieve sustainable and scalable impact.

Aon plc has unveiled insights from its 2026 Global Construction Insurance and Surety Market Report, highlighting the resilience of construction activity in the Asia Pacific region. The report underscores the impact of sustained investments in digital infrastructure, which are reshaping construction risks and driving demand for insurance.

The report reveals that the construction insurance market remains growth-oriented, bolstered by abundant capacity and insurer ambitions. However, insurers are increasingly emphasising natural catastrophe exposure, project governance, and delay risks due to the growing scale and complexity of projects. Terence Williams, head of Commercial Risk in APAC for Aon, noted that “hyperscale data centres, battery and semiconductor plants are driving demand for higher-value, more complex builds.”

In markets like China and India, capacity remains robust and pricing competitive, whilst Japan faces pressure from regulatory developments and heightened natural catastrophe exposure. The report also highlights the emergence of technology-led construction as a significant growth area, with data centres and semiconductor plants requiring tailored underwriting approaches.

Vincent Banton, head of construction and infrastructure in Asia for Aon, stated, “Asia remains a region of opportunity but with increasing risk complexity.” Insurers are backing projects with strong governance frameworks, emphasising early engagement and disciplined risk management.

Additionally, the report notes steady growth in the Asia Pacific surety market, driven by infrastructure investment and regulatory capital requirements. Surety capacity is expanding, particularly outside Australia, positioning it as an attractive alternative to traditional bank guarantees.

Forvis Mazars, a global professional services network, has appointed Anthony Atkins as Partner for Consulting (Actuarial Services) in Singapore. With over 20 years of experience in insurance and actuarial fields, Atkins is set to bolster the firm’s presence in the Asia Pacific region. His appointment comes amidst rising demand for actuarial expertise, driven by the complexities of IFRS 17 and increased M&A activity.

Atkins will join the Financial Services Consulting team, complementing the existing insurance practice in Singapore, which includes Tan Yan Song, Partner in Audit and Assurance. The team operates under the leadership of Rudi Lang, APAC Financial Services Leader, offering a comprehensive suite of services including actuarial advisory, audit and assurance, and financial consulting.

Rick Chan, Managing Partner Singapore, expressed enthusiasm about Atkins’ addition, stating, “Tony’s appointment reflects our continued investment in deepening our insurance and actuarial capabilities across Asia Pacific.”

The insurance sector in Asia Pacific is experiencing significant transformation, with IFRS 17 now active in major markets like Singapore, Hong Kong, and Malaysia. Atkins’ extensive background, including leadership roles at a Big Four firm and as Asia Pacific Head of Actuarial Consulting at a global broking firm, positions him well to navigate these changes. His expertise in M&A, market entry, and actuarial due diligence will be invaluable as insurers adapt to new challenges.

Atkins remarked, “I am excited to join Forvis Mazars at such a key moment for the insurance industry across Asia Pacific. The firm’s commitment to supporting clients in financial services and its strong regional network provide an excellent base for trusted actuarial advisory.”

Cushman & Wakefield’s initial findings from the 2026 Asia Pacific Living Survey reveal that the ongoing Middle East crisis is influencing investor behaviour in the region’s Living sector. Whilst investors are becoming more cautious, there is no significant withdrawal from the sector. The survey, which began in April 2026, aims to understand investor intentions and priorities across the Living sector in Asia Pacific.

The survey highlights that 62% of investors are slightly more cautious due to the crisis, with only 4% pausing new deployments. The main impact is on the pace and timing of investments rather than a change in conviction. Investors are expected to demand stronger assurance on income resilience, market fundamentals, and pricing.

Key concerns for investors include higher interest rates and inflation risks, with 77% and 69% of respondents, respectively, identifying these as major issues. The geopolitical situation is primarily affecting financial aspects, such as pricing and leverage, rather than the potential for escalation or de-escalation of the crisis.

The survey also indicates a shift in investor preference towards income-producing, operational assets, with increased caution around development and repositioning risks. If the crisis persists, investors anticipate higher finance costs and required returns, suggesting that deals will need to adapt to a more challenging financial environment.

Cushman & Wakefield plans to release the full survey results in July, providing further insights into the evolving investment landscape in the Asia Pacific Living sector.

Business leaders in Singapore and Hong Kong are more optimistic about the impact of artificial intelligence (AI) than their global counterparts, according to a new survey by QBE Insurance. The survey, which involved over 6,000 participants from 15 markets, found that 96% of Hong Kong and 97% of Singapore business leaders expect AI to positively impact their operations over the next two years.

In Hong Kong, 56% of businesses are using AI to boost operational awareness, whilst 43% focus on agility and 26% on revenue growth. Meanwhile, Singaporean companies are prioritising productivity, with 54% of respondents citing it as a key focus, alongside innovation and competitive advantage, both at 40%.

Despite the optimism, the survey highlighted significant cyber risks. Nearly half of businesses in both cities have experienced cyber-attacks linked to suppliers, surpassing the global average of 38%. Concerns about supplier-related cyber risks are high, with 64% of Hong Kong and 78% of Singapore business leaders expressing worry.

Sam Russell-Vick, Regional Cyber Lead at QBE Asia, emphasised the importance of addressing supplier vulnerabilities, stating, “Companies can no longer be solely concerned with their own cyber defences. They must now consider the cyber vulnerabilities of their suppliers.”

The survey also revealed gaps in cyber insurance coverage, with 22% of Hong Kong and 18% of Singapore businesses lacking insurance. This is particularly pronounced in sectors like construction and manufacturing, where significant portions remain uninsured. The findings underscore the need for businesses to bolster their cyber defences and insurance coverage to mitigate potential risks.

Hilton has unveiled plans to expand its presence in Asia Pacific with the signing of two new Hilton Garden Inn hotels in Busan, South Korea, and Hyderabad, India. Both properties are slated to open in 2028, marking significant milestones for the hospitality giant in these burgeoning markets.

In South Korea, Hilton has partnered with MS&C Co., Ltd. to introduce the Hilton Garden Inn Busan Gijang. This 111-room hotel will be part of a mixed-use development, catering to the region’s growing reputation as a hub for leisure, wellness, and medical tourism. The city of Busan aims to attract 100,000 foreign medical visitors by 2030. The hotel will offer a range of amenities, including an all-day dining restaurant, a fitness centre, and spa facilities, and will be conveniently located near popular attractions such as Haedong Yonggungsa Temple and Lotte World Adventure Busan.

Meanwhile, in India, the Hilton Garden Inn Hyderabad Kompally will be Hilton’s first of its kind in the city and its third hotel in Hyderabad. Developed by Fairmount and Friends LLP, the 96-room hotel will feature extensive meeting and event space, alongside dining facilities. The location within a mixed-use development offers connectivity to key business districts, aligning with Hyderabad’s status as a leading business and IT hub.

Clarence Tan, Hilton’s senior vice president for Development in Asia Pacific, highlighted the strategic importance of these developments, stating, “This signing reflects our focus on building a balanced portfolio across key gateway and emerging business destinations in the market.”

These expansions underscore Hilton’s commitment to growing its footprint in Asia Pacific, with plans to increase its number of trading hotels in India from 40 to over 400 in the coming years.

Enterprise AI is facing significant challenges as it outgrows existing infrastructure, according to NTT DATA’s 2026 Global AI Report. The report highlights a critical gap between the importance of private and sovereign AI and the readiness of organisations to implement these systems effectively. Whilst 95% of respondents recognise the importance of private and sovereign AI, only 29% are prioritising sovereign AI in the near term.

The report identifies several key barriers to AI adoption in the Asia Pacific region. Notably, 66% of respondents cite cross-border data restrictions as a major challenge, whilst only 40% express high confidence in their cloud security posture. This lack of confidence in foundational security measures poses a significant risk to AI deployment.

Abhijit Dubey, CEO and Chief AI Officer at NTT DATA, emphasised the need for organisations to go beyond compliance and risk mitigation. “Our research shows AI leaders are pulling ahead by treating architecture, infrastructure, and governance as strategic requirements,” he stated.

The report outlines five shifts defining the next phase of enterprise AI, including the need for greater control over data access and security, and the increasing importance of data jurisdiction as an architectural constraint. Organisations that redesign their AI systems early are better positioned to succeed in regulated and data-sensitive environments.

NTT DATA’s research draws on insights from nearly 5,000 senior decision-makers across various industries and regions. As AI continues to evolve, the report underscores the importance of strategic infrastructure planning to harness its full potential.

Manulife Financial Corporation has announced a robust performance in its Asia segment for the first quarter of 2026, with core earnings reaching US$598m, marking a 22% increase year-over-year. The growth is attributed to strong sales and strategic initiatives across Hong Kong, Japan, and Singapore.

The company’s annualised premium equivalent (APE) sales rose by 11% to US$1,599m, whilst the new business contractual service margin (CSM) and new business value (NBV) both increased by 15%, reaching US$585m and US$533m, respectively. These figures underscore Manulife’s successful execution of its strategy to enhance health, wealth, and longevity solutions for its customers.

A key highlight of the quarter was Manulife’s exclusive partnership with Guardant Health, offering the Shield Multi-Cancer Detection test to customers in Hong Kong, Singapore, and the Philippines. This collaboration positions Manulife as the first insurer in Asia to provide this early cancer detection service, reinforcing its commitment to improving customer health outcomes.

Additionally, Manulife’s third Asia Longevity Symposium in Japan focused on financial readiness for longer life spans, enhancing the company’s brand perception and customer engagement. The firm also received accolades as Asia’s Best Insurance Provider for Wealth Management at the 2026 Euromoney Private Banking Awards.

Investments in artificial intelligence (AI) have been pivotal, with new AI tools launched in Vietnam and Japan to boost distributor productivity. In Hong Kong and Macau, the AI SalesPro tool was introduced to over 11,000 agents, enhancing sales effectiveness and customer insights.

Steve Finch, President and CEO of Manulife Asia, stated, “Asia delivered another strong quarter in 1Q 2026, with core earnings up 22% and double-digit increases across key growth metrics. This performance reflects disciplined execution across our strategy.”

Manulife’s strategic initiatives and technological advancements are expected to continue driving growth and enhancing customer experiences in the region.

Deloitte’s latest report highlights the critical role of chief financial officers (CFOs) in Southeast Asia as a stabilising force in governance amidst increasing volatility. The report, based on surveys conducted between October and December 2025, reveals that 90% of audit committee members expect CFOs to act as a bridge between management and the board, emphasising the need for timely and effective communication.

The report, titled “The Audit Committee: A North Star for CFOs navigating uncharted waters,” underscores the importance of recalibrating governance strategies. It notes that whilst 85% of audit committee members feel they receive the right information under normal conditions, this confidence diminishes as volatility rises. A subsequent pulse survey conducted in March and April 2026 indicates a growing need for earlier visibility and stronger resilience planning due to geopolitical disruptions.

Audit committees are increasingly demanding continuous updates, with 62% expressing this need, yet only 36% of CFOs say they provide information at that cadence. “Recent geopolitical disruption has reinforced a simple truth: in volatile conditions, audit committees do not merely need more data,” said Ho Kok Yong, CFO Programme Leader at Deloitte Southeast Asia. “They benefit from earlier orientation—visibility into what is changing, what is uncertain, and which judgement calls narrow options if delayed.”

The report also highlights the rising significance of AI and automation in governance, with 90% of audit committee members valuing visibility into finance systems. Despite these challenges, trust between CFOs and audit committees remains robust, rated at 4.0 out of 5. However, the quality of interactions is slightly lower, reflecting the growing demands on CFOs. The report concludes that effective governance relationships will allow difficult issues to surface early, ensuring resilience is maintained.