Industry Segments: Catastrophe Page 27 / 52
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- January 18 2022
Market raises concerns over Asia secondary perils pricing
Inadequate models are putting pressure on underwriting results, say market participants.
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- January 14 2022
Climate crisis dominates Asia’s risk outlook
Nat cats caused US$50bn of losses in APAC in 2021, as WEF says top five risks are linked to climate change.
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- January 13 2022
Typhoon Rai triggers thousands of claims for Philippines’ adjusters
Major damage to a hospital, a grain silo firm and beach resorts will lead to millions of dollars in payouts.
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- January 7 2022
IAG renews reinsurance cat cover at US$7.2bn
The 2022 program structure is similar to prior years with the price increasing by "mid single digits".
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- January 7 2022
MS Amlin launches Phoenix 2 Re ILS vehicle
The vehicle is the firm's second Asia-focused reinsurance ILS offering and secured US$37.5m.
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- January 5 2022
Japanese insurers struggle with overseas volatility
Non-life premiums from Asia Pacific declined by 11.2% as Covid restrictions took hold.
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- December 30 2021
Malaysia’s life, takaful firms offer flood relief measures
Grace periods for premium and contribution payments will be extended from the usual 30 days to a longer timeframe.
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- December 28 2021
Tokio Marine sees NPW rise as rates harden
Domestic NPW at Japan's largest P&C player increased by 3.2% in H1 2021 while overseas premiums increased by 8.9%.
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- December 22 2021
Munich Re, WTW’s sovereign debt ‘cat wrapper’ a model for SE Asia
The demand for similar style debt protection in the region is likely to grow.
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- December 21 2021
Philippine regulator urges insurers to fast-track Typhoon Rai claims
Insurance Commission head Dennis Funa says there has been widespread damage from landslides and flooding.
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- December 17 2021
Nat cat toll shows no sign of slowdown
Insurers hit by US$105bn losses in 2021, making it the fourth worst year on record.
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- December 16 2021
Japan summer rainfall claims surpass US$400m: GIAJ
A previous estimate in September was around US$300m lower than the latest figure.
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- December 16 2021
Australia’s cyclone risk pool a first step
The US$7bn reinsurance scheme needs to be backed up by other initiatives to address a rapidly changing risk environment.
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- December 10 2021
New Zealand’s July storm bill hits US$96m: ICNZ
The association said this figure is a 15% increase from its previous report in September.
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- December 2 2021
Cyclone claims to rise unless house designs improve: ICA
New report says construction methods need updating amid an evolving climate change threat.
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- December 1 2021
Australia ups state flood mitigation funding by US$35m
Applications opened this week to access money from the country's National Flood Mitigation Infrastructure Program.
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- November 24 2021
Taiwan’s non-life players benefit from benign nat cat experience
P&C insurers have recorded a five-year average net combined ratio of 95.6%, according to AM Best.
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- November 23 2021
Lloyd’s launches retail parametric cyclone cover for Northern Australia
The initiative is led by Beazley with initial reinsurance support from Axa XL, Hiscox and RenaissanceRe.
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- November 22 2021
China Re’s underwriting result exposed to nat cats, motor reforms: AM Best
The reinsurer's domestic P&C business has been particularly impacted by deteriorating conditions in these two segments.
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- November 17 2021
US$22bn needed to protect coastal communities: ICA
The figure accounts for around 1.2% of all annual infrastructure spending by local, state and federal governments.
