Industry Segments: Reinsurance Page 14 / 72
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- January 9 2024
Typhoon Doksuri tops APAC nat cat overall losses at US$25bn: Munich Re
Two major disasters in New Zealand – Auckland floods and Cyclone Gabrielle – topped APAC insured losses at around US$4 billion.
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- January 9 2024
Guy Carpenter’s global property cat rate-on-line index up 5.4% in 1.1 2024
This is the seventh consecutive year-on-year increase for the index, but it was significantly lower than the 27.5% rise seen last year.
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- January 9 2024
Hard market conditions to stay despite a rebound in reinsurance capital: AM Best
Traditional reinsurance capital is estimated to have risen to US$561bn last year, up 12.2%, with a 4% increase in third-party capital thanks in part to record-high issuance of cat bonds.
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- January 8 2024
APAC 1.1 renewals got done ‘for right rates on right terms’
With 10% additional capacity, loss-free and cat XL programs were flat or up to 5-10%, while loss-affected ones saw 25-30% hikes, say regional experts from Guy Carpenter, Peak Re and TransRe.
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- January 8 2024
PICC, China Re, China Taiping have ‘trillions of yuan’ exposure to Belt & Road projects, nat cat
The three leading Chinese (re)insurers said they provided coverage to the country's high-tech, aerospace sectors, infra projects and cat relief with the sum insured amounting to several trillion yuan each.
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- January 4 2024
IAG renews 2024 cat program with US$7bn protection, adds US$67m New Zealand cover
In conjunction with its 32.5% quota share, the Australian carrier’s retention is flat at US$159m.
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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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- January 3 2024
APAC 1.1 renewals see ‘flat to 5%’ hikes on loss-free programs: Gallagher Re
Excess of loss pricing adjustments in Asia reverted to levels reminiscent of the period preceding the market hardening in 2023.
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- January 2 2024
Global property cat rates rise 3% in ‘stable and orderly’ 1.1 renewal: Howden
Supply largely sufficient to meet increased demand as cedents took the opportunity to purchase more cost effective tail coverage.
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- January 2 2024
Healthier property market drives stable, predictable 1.1: Gallagher Re
While confidence in third-party liability lines has diminished, capacity for specialty lines remained buoyant, according to the reinsurance broker's renewal report.
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- January 1 2024
Global property cat rates near-flat at 1.1 with ‘ample capacity’: Guy Carpenter
Availability of property retro capacity led to improved buying conditions, particularly at more remote levels with retention levels holding steady and greater consistency in terms and conditions.
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- December 22 2023
Qianhai seen as hub for cross-border insurance products: NDRC
To elevate the Greater Bay Area’s status as a financial hub, the Chinese government has called on insurers in China and Hong Kong to collaborate on marine, motor vehicle insurance, and reinsurance.
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- December 22 2023
Asia marine market sails into choppy 1.1 renewals
The anticipation of an orderly renewals season has been unsettled by Red Sea attacks with marine war risk premiums having risen to around 0.5%-0.7% of the value of a ship this week from 0.07% in early December.
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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 20 2023
Australian insurers well placed to meet Jasper flood claims: S&P
Only insurers with high market shares in far north Queensland might trigger their reinsurance cat covers, the rating agency said.
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- December 20 2023
Nexus sees continued growth in structured solutions across Asia
Challenging conditions in the treaty reinsurance market mean that cedents are increasingly looking for innovative solutions, says the MGA's Asia CEO Anthony Egerton.
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- December 19 2023
Howden Tiger’s Doreen Tan elevated to Asia head of treaty
Singapore-based Tan, who has been at the reinsurance broker for more than a year, moves up following former APAC treaty head Stephen Warwick’s move to Guy Carpenter.
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- December 18 2023
Qianhai Re to diversify non-life porftolio to drive growth, on course to improve capital structure: AM Best
The rating agency has affirmed a reinsurer rating of A- (excellent) with a stable outlook taking into account its very strong balance sheet, adequate operating performance and neutral business profile.
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- December 14 2023
New India Assurance admits NHPC’s Sikkim flood claims
The state-owned power producer's projects damaged in the flood include Teesta-V Power Station (510 megawatt) and the under-construction Teesta-IV HE project (500 megawatt).
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- December 14 2023
Australian cyclone pool expects to cover 94% projected ultimate exposure by year-end
Nine out of 11 large insurers have already joined the ARPC while IAG and Autor & General will join by December 31; The pool made an underwriting loss of US$2.75m from a GWP of US$100m in FY 2023.
