Analysis Page 21 / 72
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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 31 2023
Chaucer results bolster China Re amid difficult year
The Lloyd's specialty player's COR at 92.99% in FY 2022 while the group's P&C reinsurance arm saw profits fall 55.5%.
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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.
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- March 29 2023
World Bank cat bond listing boosts Hong Kong’s ILS ambitions
As a risk management hub, the city is looking to attract talent, diversify business and develop an ecosystem, says HKIA's Clement Cheung.
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- March 28 2023
NSW’s new government urged to bin premium levy
Dropping the emergency service levy, which adds an 18% surcharge to home insurance and 40% to business premiums in the state, will lower insurance costs.
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- March 27 2023
India renewals to see prices climb 10-35%
The market is likely to see property, fire and marine premiums correcting as negotiations hit their final week.
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- March 24 2023
Japan H3 rocket failure losses trigger domestic aviation pool
With the launch costs estimated at around US$50m, the loss won’t spill over to international reinsurers.
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- March 22 2023
Further correction to Asia marine likely to be elusive
The market is still under-priced but rate increases lag behind the European and US markets.
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- March 21 2023
Asian carriers embrace insurtechs despite global slowdown
In recent deals, Peak Re teamed up with CyberCube, Zurich partnered Surer, Echo Re joined hands with Adept in APAC and Singapore's GIA expanded its use of Shift Technologies.
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- March 16 2023
Exclusive: Hankook Tire fire losses may reach liability limit of US$230m
While KB Insurance has a 40% exposure to the risk pool, Samsung, Hyundai and DB Insurance have 20% each, IAN can reveal.
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- March 15 2023
Claims pile up from Malaysia flood losses as unseasonal rains continue
Loss adjusters have seen hundreds of claims, while agriculture damage already exceeds the overall losses in the state of Johor for 2022.
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- March 14 2023
Asian insurers lag global peers as IFRS 17 kicks in
With traditional accounting measures such as GWP and NWP being phased out, there are numerous reporting challenges to overcome.
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- March 10 2023
Hannover Re’s 2022 APAC P&C combined ratio surges to 126.1%
The German reinsurer was hit by floods in Australia and Malaysia, typhoons in Japan and South Korea and Covid losses in Taiwan and Thailand.
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- March 9 2023
Exclusive: Philippines oil spill could cost Shipowners’ Club over US$100m
IAN understands that the P&I club is the sole insurer on a sunken oil tanker that was carrying 800,000 litres of toxic fuel oil.
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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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- March 6 2023
Ping An on the line for Hong Kong skyscraper fire set to cost over US$50m: sources
A blaze at an under-construction luxury hotel, which IAN understands is brokered by WTW, could be the highest property-related insurance payout in the city.
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- March 2 2023
Fac to the fore in Asia as treaty turbulence continues
"The general consensus is that people have not seen a market like this before," says Miller's Ron Whyte.
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- February 27 2023
Inflation pinches ‘high-margin’ liability lines’ profitability
Hit by the 1.1 renewals, many Asian carriers are seeing opportunities in liability cover but there are dangers in the tail.
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- February 23 2023
Asian fleets boost P&I clubs’ renewals
After a tough start, many clubs saw close to 50% renewed gross tonnage coming from Asia.
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- February 22 2023
Cyclone Gabrielle claims ramp up pressure on New Zealand’s carriers
Insurers are being hit by inflation, rising reinsurance costs and unprecedented weather, including the country's largest event since the Christchurch earthquake.
