Industry Segments: Political Violence Page 3 / 6
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- January 15 2024
Taiwan election results weigh on vexed political risks market
China-sceptic Lai Ching-te's victory in the presidential polls raises worries that cross-straits relations may strain further, however, a weakened mandate and loss of legislative majority could have a moderating influence.
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- January 12 2024
Asia SRCC and terrorism market seeks further protection as unrest looms
Underwriters unsettled by rising losses are looking to limit exposures with political and civil unrest risks going up in more than 50% of countries over the last 12 months.
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- January 4 2024
(Re)insurers to keep an eye on inflation, climate risk and geopolitical tensions in 2024
Expectations for a recovery in growth, orderly renewals, improved supply-demand dynamics, easing of retro market conditions point to a shift in sentiments and the industry’s resilience.
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- December 21 2023
January 1 renewals seeing ‘flattish pricing’, better terms
Political risk and war will see the most challenging conversations with capacity available for other classes as reinsurance or retro markets have not been too affected by 2023 catastrophes.
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- December 19 2023
Industry monitors maritime risks amid escalating South China Sea tensions
APAC insurers remain cautiously optimistic that the dispute will not broaden to involve the wider maritime community transiting the waters.
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- November 29 2023
MS Amlin expands Singapore political risk, treaty teams
Sam Lim has been appointed as senior underwriter, credit and political risk, while Jinnan Tang joins as treaty underwriter.
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- November 29 2023
International market’s appetite for Taiwan risks waning
While domestic insurance capacity has been sapped by Covid losses, foreign carriers are shying away from writing business in the market due to historically soft markets and looming political risks.
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- November 2 2023
SIRC: Asia’s PV and terrorism market faces second overhaul at 1.1 renewals
Reinsurance prices are going up and attachment points are changing, says Axa XL's Mark Houghton, with demand coming from banks, export credit agencies and government multilateral initiatives.
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- October 30 2023
APAC political violence and terrorism price hikes, cover squeeze to continue
The fast-moving situation in the Middle East is causing a further strain on the market hit by the war in Ukraine, according to WTW and HDI Global.
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- October 27 2023
Sompo continues Singapore build-out with Paddy Harman hire
He joins from Allianz as a senior underwriter in Sompo's credit & political risk team as the specialty player expands its APAC commercial P&C capabilities.
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- October 24 2023
Liberty Specialty Markets hires Cristin Li as senior underwriter
Hong Kong-based Li will look after the insurer's war and terrorism portfolio in north Asia.
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- October 9 2023
Axa XL strengthens Singapore team with crisis management and special risks underwriter
Grace Yeap joins from Chubb and will be in charge of crisis management, risk appetite and broker relationships across political violence and terrorism business lines.
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- August 23 2023
Political violence market on guard over Taiwan tensions
While some carriers are excluding Taiwan completely, most have been sub-limiting exposure to US$10–25m in the aggregate.
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- July 26 2023
Tokio Marine Kiln signs up political risks specialist Cindy Gunawan in Singapore
Gunawan, who joins from Marsh, will report to regional underwriting director Jamie Tang.
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- July 20 2023
Update: Insurers take ‘wait-and-see’ approach to Russia’s Black Sea threat
As the situation escalates with Russia targeting port facilities and destroying grains and the US warning that Moscow may have mined the sea corridor, there is uncertainty if terms can be held for non-Russia, Ukraine, Belarus ports.
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- July 13 2023
HDI takes Markel’s James Guardino to enter Asian political & credit risk market
Guardino will report to Singapore managing director Graham Silton and Nick Robinson, HDI Global Specialty’s head of political and credit risk in London.
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- April 17 2023
HKFI seeks easier re-domiciliation and improved positioning to attract global majors
Policy recommendations have been submitted by the Hong Kong Federation of Insurers to the Financial Services and Treasury Bureau and the Insurance Authority.
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- April 11 2023
Carriers eye terrorism and PV coverage as appetite grows and market hardens
Global (re)insurer Axis and Lloyd's player Mosaic Insurance are planning to expand cover in the under-served Asian market.
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- April 7 2023
Opinion: Indonesia’s 1998 riots and their impact on the (re)insurance market
Peter Phillips, chief client officer South Asia at Marsh, gives his views on how the events shaped political violence and terrorism cover.
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- March 30 2023
‘Tough’ Philippines renewals seeing up to 50% hikes in property, PV to climb 30%
Reinsurers adamant on rate increases even for loss-free accounts due to cat exposure, inflation and treaty costs.
