Rate hikes, significant structural changes make April 1 renewals challenging: Gallagher Re
April 3 2023 by Mithun Varkey
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CCR Re’s Africa and Asia FY 2023 GWP increases by 27%
- April 22
The reinsurer saw moderate claims in Asia throughout the year, not affected by big cat events such as typhoons Doksuri in Beijing and Saola in Hong Kong and saw few individual claims in Korea.
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April 1 renewals point to signs of reinsurance market peaking
- April 9
The orderly 1.4 renewals saw a revival in property cat appetite, and modest reductions in rates and easing of conditions, though retentions remain high and per risk and US casualty continue to be hard to place.
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APAC markets see stable renewals on ample capacity, reinsurer appetite: brokers
- April 3
The supply-demand dynamics have shifted in favour of reinsurance buyers in the April renewals, leading to better pricing and easing of market conditions across Japan, India, Korea, the Philippines and China.
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April 1 renewals see ‘dramatic shift’ in favour of cedents: Aon
- April 1
Japan property cat rates were flat to slightly reducing, while South Korea, China and India also saw increased competition for catastrophe business.
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FM Global | Resilience: No longer a choice
As climate disclosure becomes mandatory and new risks emerge from natural hazards, understanding the tools that are available to build resilience is more important than ever.
