Wednesday, February 21, 2018

Catastrophe

Firms still see huge potential in emerging markets

Firms still see huge potential in emerging markets

During the Davos forum, major insurers discuss the paucity of insurance taken out in developing markets.

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Inefficiencies threaten disruption to insurance industry

Inefficiencies threaten disruption to insurance industry

Expensive cost structures and the high cost of capital are weaknesses that disruptors will exploit.

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Philippine nonlife industry outperforms in 2015

Philippine nonlife industry outperforms in 2015

From January to September 2015, net income in the nonlife insurance sector grew 122% to US$76m.

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Natural disasters caused US$35bn insured loss in 2015

Natural disasters caused US$35bn insured loss in 2015

A total of 300 separate global natural disasters took place last year, according to Aon Benfield.

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Claims from natural disasters drop in 2015

Claims from natural disasters drop in 2015

Insured losses fell to US$27bn, well below the 10-year average of US$180bn, according to Munich Re.

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Sichuan province launches earthquake insurance trial

Sichuan province launches earthquake insurance trial

Under the plan, the provincial government will subsidise 60% of the insurance fees for most residents.

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Managing natural catastrophes in South Asia

Managing natural catastrophes in South Asia

South Asia faces an immense challenge in trying to find ways of protecting communities from natural catastrophes.

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Aon estimates US$10bn global catastrophe loss in October

Aon estimates US$10bn global catastrophe loss in October

Typhoon Mujigae alone caused about US$4.2bn of losses last month, according to Aon Benfield.

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Asian catastrophe capacity continues to exceed demand

Asian catastrophe capacity continues to exceed demand

Appetite for regional primary catastrophe premium remains high, despite a number of market losses.

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Disaster protection gap hits US$1.3tr

Disaster protection gap hits US$1.3tr

Disaster risks are increasing while insurance is not keeping pace, according to a report released by Swiss Re.

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Quake insurance could rise by up to 50% in Japan

Quake insurance could rise by up to 50% in Japan

Japanese nonlife insurers plan to raise quake insurance premium rates in 36 prefectures.

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Japan’s top insurers set to pay US$822m for typhoon damages

Japan’s top insurers set to pay US$822m for typhoon damages

Payments for this fiscal year could mark the highest typhoon-related pay-out since 2011.

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Commercial rates continue to plunge globally

Commercial rates continue to plunge globally

Declines are driven by the benign loss environment and abundance of global capacity, says Marsh.

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New India Assurance renews Air India cover for US$9.5bn

New India Assurance renews Air India cover for US$9.5bn

The bid to insure Air India’s 126-aircraft fleet will earn a premium of US$22.5 million.

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Cat bond issues down as competition responds

Cat bond issues down as competition responds

Traditional and collateralised players are responding with lower pricing and expanded coverage.

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Philippine insurers favour mandatory earthquake insurance

Philippine insurers favour mandatory earthquake insurance

Insurers have submitted a proposal on compulsory earthquake insurance to the finance secretary.

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Asia is home to the world’s riskiest cities

Asia is home to the world’s riskiest cities

The region’s cities face diverse threats, ranging from storms and earthquakes to market crashes and pandemics.

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China trials first earthquake insurance in Yunnan

China trials first earthquake insurance in Yunnan

Six insurance companies have joined in the launching of China’s first earthquake insurance trial.

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Nina Klingspor, Allianz Global Corporate & Specialty

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