Industry Segments: Pricing Page 5 / 9
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- June 1 2023
Opinion: Florida’s return to orderly renewals a welcome sign for APAC
Prospects of 30-40% rate hikes tempt reinsurers back to a normalised attitude towards the assumption of nat cat risk as 1.6 draws to a close.
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- May 15 2023
Strata capital squeeze pushes Australian carriers out of the market
Those who remain are pushing 15-30% premium increases for standard risks with more difficult risks exceeding 40%, as cyclone claims and inflation take their toll.
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- May 8 2023
Asian D&O prices mirror global softening as capacity, competition grows
Rates may continue to moderate in the coming months but economic headwinds and regulatory changes in the region may warrant another correction.
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- May 4 2023
Asia commercial pricing moderates in Q1 2023: Marsh
Rates rose 1% in the region, while global commercial insurance prices increased 4% in Q1 2023, according to the broker's pricing report.
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- April 14 2023
ICNZ chief questions proposal to hike fire service levy
Fire and Emergency New Zealand has proposed a 12.8% increase in the levy on insurance policies to cover a funding shortfall.
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- April 4 2023
Easing capacity constraints offer hope for mid-year renewals: Aon
April renewals progressed in an orderly fashion as the reinsurance market has found itself on a more sustainable footing.
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- April 3 2023
Japan bucks the trend with orderly 1.4 renewals
Alarmist projections of 35% hikes haven't materialised as the market saw a broad rating uplift of 15-20% with client and reinsurer expectations better aligned than at 1.1.
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- March 8 2023
Japan windstorm hardening in 1.4 renewals spotlight
Pressure across the reinsurance market is delaying negotiations and could push up some rates 20-30%.
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- February 6 2023
Asia Q4 2022 property pricing up 2% as casualty fell 1%: Marsh
Cyber rates increased 22%, an improvement over previous quarters, as more capacity entered the market.
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- December 22 2022
ACIL seeks strata pricing reforms in Australia
Strata managers charge 40% of insurance cost as commissions and fees, seen as "outside of consumers' interest".
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- November 30 2022
AM Best sees decline in available reinsurance capital by year-end, outlook remains stable
Pricing is likely to further harden by end of the year and it could impact 2023 renewals, the rating agency said.
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- November 25 2022
Reinsurance rates to rise the most in Australia: Fitch
Rates for property catastrophe should increase by over 10% when contracts are renewed in 2023.
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- November 18 2022
Australian ransomware payment ban offers relief to hardening cyber market
A series of high-profile cyber attacks on major institutions to likely cause a surge in H2 loss ratios for cyber programmes.
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- November 15 2022
Asia carriers review policies as inflation outlook worsens
Regional headline rates remain benign but pressures are growing, including on claims, say WTW, BHSI and McLarens.
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- November 14 2022
Data shortfalls could harm Asian cedents during renewals
An increase in nat cats means that data pooling and quality is set to become important during negotiations.
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- November 4 2022
SIRC: Capacity woes and rising rates dominate Asia renewals
Pricing, structuring and climate change occupy discussions as the industry gathered in Singapore.
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- November 3 2022
Sompo International recruits Axa chief actuary as APAC pricing VP
Fred Weber, who was at Axa since 2004, will continue to be based in Singapore.
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- November 1 2022
APAC commercial rates moderate as cyber pricing shoots up: Marsh
Pricing in the Pacific climbed 5% in Q3, down from 7% in Q2, while Asia was up 2%, down from 3%.
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- October 8 2022
Asian cedents urged to get in early, lock down capacity for 2023 renewals
Prices are hardening and capacity is likely to be more constrained going into the upcoming renewal season.
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- September 28 2022
Higher loss ratios driving up China NEV insurance rates: report
Electrical vehicle cover 20% more expensive than conventional cars because they are more prone to fire and parts are more expensive.
