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- October 1 2024
Seadrif’s Typhoon Yagi pay out in Laos tops US$3m
The extended flood impact triggered a second parametric payout of US$2.25 million on September 30, just a week after the initial pay out of US$750,000 was made to the ministry of finance.
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- September 30 2024
Seadrif targets Asean expansion as it ramps up advocacy to tackle bottlenecks
While it has achieved success in Laos, a significant protection gap persists in the region, highlighting the need for improved data management and government support for effective disaster risk solutions, chairman Yoshihiro Kawai tells IAN.
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- September 27 2024
Parametrics can complement reinsurers’ capital protection platforms
Guy Carpenter’s Jeremy Waite discusses how index-based products can fill the protection gap left by indemnity insurance from deductibles, excluded perils, scarce capacity and contingent business interruption.
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- September 25 2024
Typhoon Yagi triggers Seadrif parametric pay out in Laos
The Asean risk pool initiatied the US$750,000 payout on September 20, which was five days after the peak of the flooding in the country's capital Vientiane.
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- September 17 2024
Howden enters Japanese retail broking with Foresight acquisition, names Takuya Aibe CEO
Tokyo-headquartered Foresight offers retail brokerage, captive consulting & management services. The newly acquired business will be led by Aibe, who was most recently CEO of Gallagher Japan.
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- September 16 2024
RVS Monte Carlo: Market can expect return to calmer waters
After a bruising couple of years, this year’s Rendez-vous de Septembre indicated that the hard market is over, with alternative forms of capital and risk solutions here to stay.
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- September 12 2024
Captives pivotal to development of Belt & Road green energy projects: HKIA panel
The SAR seeks to be the preferred captive domicile to manage risks from overseas renewable energy projects, participants at a Belt & Road summit moderated by the city's Insurance Authority heard.
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- September 5 2024
Pacific islands cat pool PCRIC mulls expansion into private sector cover
The captive for the island nations is looking at extending parametric solutions to the underserved private sectors such as tourism, fisheries, and utilities, according to chief executive Aholotu Palu.
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- August 22 2024
Climate change exposes banks to ‘silent’ risks as insurance gets more unaffordable: Aon
Banks can leverage on tools and datasets that insurers have been using for pricing climate risks. Alternative risk transfer tool such as parametrics can also provide additional protection, the broker said.
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- August 16 2024
Nat cat risk pool, parametrics can improve China’s climate resilience: Ping An Insurance
In a jointly-issued report, China's second P&C insurer has put forward a range of recommendations on how authorities can work with the sector to mitigate disaster risks.
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- August 15 2024
‘Impact insurers’ run into capacity, distribution hurdles in Asia
Public partnerships, people-centric design and tech solutions are needed for parametrics to be a part of the region’s relief capital mix and to close the protection gap.
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- August 7 2024
Munich Re, SBI General Insurance to lead Indian state’s parametric rainfall cover
The Nagaland State Disaster Management Authority has appointed the two as the lead reinsurer and insurer to enhance the North-Eastern Indian state's resilience against excess rainfall.
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- August 5 2024
Axa debuts parametric heatwave cover for Hong Kong, Macau outdoor workers
Insured individuals are eligible to receive a payout of US$12.9 each, or an ‘anti-heatwave kit’ of an equivalent value, without the need to submit claims or prove damage or loss.
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- July 23 2024
Hong Kong captive growth stalls as Singapore, Labuan pull away
With recent rule changes still being digested by the wider market, the SAR’s ambitions to grow as a regional centre for captive management are not yet bearing fruit.
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- July 8 2024
Pacific Islands captive PCRIC’s FY2023 net underwriting profit down 5%
Thanks to a World Bank grant support it recorded a US$1.4m surplus for the year. The company sold a total of eight policies while incurring zero claims.
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- July 3 2024
Pacific Islands captive PCRIC appoints Richard Poulter as chief risk officer
In his new role, Poulter will manage risk calculation in relation to insurance design, reinsurance and capital management and ensure PCIRC members meet each country’s objectives for financial protection against disaster risks.
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- June 24 2024
InsuResilience expands India parametric rainfall cover with further premium support
In 2020, ISF co-funded the development and implementation of the excess rainfall cover for India north-eastern state of Nagaland.
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- June 12 2024
Extreme heat triggers parametric payout for 50,000 women in India
The parametric insurance, which benefited women working in the informal sector, was underwritten by Swiss Re and provided locally by ICICI Lombard.
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- June 7 2024
Seadrif FY2023 net profit up 84% on deferred income
The regional catastrophe risk platform saw loss from its insurance operations widen in 2023, but its profit was lifted by surplus grants from the MAS and the World Bank.
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- May 23 2024
Brokers eye parametric possibilities in Asia for nat cats and beyond
Intermediaries are taking the index-based products route to provide coverage for risks that were once considered too complex or too difficult to insure.
