Subject: Catastrophe Page 6 / 62
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- January 21 2025
With US$100bn losses now the norm, rising attachment points create new dynamic for cat programs
Scale of nat cat losses needed to turn the market continues to rise as structural changes in reinsurance programs bed in across Asia Pacific.
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- January 20 2025
ARPC declares cyclone event as Cyclone Sean strengthens to category 4
Windstorm, which shut down ports in the country's iron ore exporting hub over the weekend, is expected to move away and drop below cyclone intensity by Thursday.
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- January 19 2025
Update: Eastern Australia battered by deadly storms, tennis ball-sized hail
A tropical cyclone has formed off Australia’s western coast, as eastern states deal with the fallout from damaging storms and continuing rain.
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- January 16 2025
California fire losses for Japan’s big 3, Korea’s DB Insurance likely to top US$600m
Tokio Marine Holdings, MS&AD Insurance Group and Sompo Holdings could see claims of up to US$575m, according to media reports, while DB Insurance has estimated US$41m.
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- January 15 2025
BI ‘most significant risk’ for Asian firms in 2025: Allianz Risk Barometer
Business interruption is the main risk in China and Hong Kong, Malaysia, Singapore, and South Korea, while cyber incidents top risk in India for the eighth consecutive year.
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- January 14 2025
India’s non-life insurance premiums to grow 7.3% in 2025: Swiss Re
Global reinsurer projects India’s insurance market will be the G20’s fastest growing over the next five years.
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- January 14 2025
Tibet earthquake compensation payments, pre-payments near US$5m
China's insurance industry has paid full compensation to the 126 victims of last week's deadly earthquake.
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- January 9 2025
Tibet earthquake payments top US$60,000 from Chinese insurers
- China
- China Continent P&C
- China Pacific Insurance P&C
- China Re
- China Taiping
- PICC Property and Casualty
- Ping An
- Sunshine Insurance
88 reports, with a total of 20 claims, have been made to insurers, including PICC, China Continent, China Taiping and Sunshine.
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- January 9 2025
2024 third costliest year on record with US$140bn insured losses: Munich Re
Japan earthquake, Typhoon Yagi and China floods were the largest events in Asia, aggregating to US$4.5bn in insured losses.
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- January 7 2025
Chubb elevates Carles Tondo as head of property and technical lines in Singapore
In his new role, Tondo will be responsible for fire, terrorism, construction, power generation and energy.
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- January 2 2025
2024 ‘the year of the floods’, Cresta says, as 8 cat events top US$1bn
Noto earthquake in Japan in January last year only event in Asia to meet US$1bn threshold, according to the industry loss data provider.
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- January 2 2025
‘Milestone’ as Australia’s mandated cyclone reinsurance pool hits full participation
Likes of AIG Australia, Allianz Australia Insurance, Auto & General Insurance Company and Chubb Insurance Australia have joined, Australian Reinsurance Pool Corporation says.
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- December 27 2024
Indian non-life insurers grow premiums by 12.8% to US$34bn in 2023-24
Health insurance reported 19.5% growth, while the motor segment saw a year-on-year premiums growth of 13%.
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- December 20 2024
Final Australia Christmas storms losses top US$1bn: Perils
Acute storms hit states of Victoria, New South Wales and Queensland in December 2023, with property accounting for 89% of the total industry loss.
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- December 20 2024
The heat is on for India: climate change, rapid urbanisation set to weigh on BI losses
The country's business interruption insurance market is set to face challenges from heat stress and urban flooding.
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- December 19 2024
Firefighting levy on New Zealand insurance premiums finalised
The revised levy, which is a primary funding mechanism for Fire and Emergency New Zealand, will be effective from July 2026.
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- December 18 2024
Claims from Japan’s Typhoon Shanshan surge to US$331m
General Insurance Association of Japan says 89,639 claims made from the typhoon that hit earlier this year.
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- December 18 2024
Higher retentions by reinsurers drive investment in granular data, modelling: Moody’s Michael Steel
While modellers have embraced AI, insurers remain cautious despite growing recognition of its benefits, says the general manager of the risk analytics provider.
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- December 18 2024
Hemant Nagpal to lead Gallagher Re Asia Pacific analytics team
Reinsurance broker also appoints Darren Murch as deputy head of analytics for the region.
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- December 10 2024
Asian carriers must expand on renewables as climate losses exceed fossil fuels GWP
Insurers should use their influence on the traditional energy sector that only contributes 2% of the total premium to protect the remaining 98% of their business, say climate activists.
