ExclusiveRenewals1.4 renewals: Japanese mutuals’ FOTs see minimum 2% RoL enforced on quakeFirm order terms on a number of Japanese mutuals’ excess of loss treaties – including the industry’s largest cat placement Zenkyoren – point to reinsurers enforcing minimum rate on line of 2 percent on quake programs, The Insurer understands.
NewsResilienceInsurers lobby for Australian resilience funding extensionInsurers in Australia are lobbying the federal government ahead of the May Budget to continue its Disaster Ready Fund past the five-year budgeted commitment to better prepare and protect communities from worsening extreme weather.
News in FocusProperty catastropheGC’s Mowery: “Difficult” lessons from 1.1 will lead to more orderly 1.4
NewsLossesPing An set for reinsurance recoveries on $340mn Kimpton fire: reportsChinese insurer Ping An P&C has confirmed its reinsurance cover has cut its liability from the Kimpton Hotel fire to a maximum of 23 percent of the $340mn in insured damages.Tue 7 Mar 2023
NewsPeople MovesHDI Global expands in Asia-Pacific with Thailand officeHDI Global has opened a representative office in Thailand after receiving regulatory approval from the ministry of commerce, with Somchai Trongwisalpattana to lead as marketing director.Fri 3 Mar 2023
NewsParametricSwiss Re CorSo and Aon partner on Nepal parametric power station coverSwiss Re Corporate Solutions and Aon have collaborated with the World Bank’s International Finance Corporation to structure a parametric insurance solution for a hydroelectric power station in Nepal.Fri 3 Mar 2023
NewsPeople Moves1783 Group appoints former Markel International divisional managing director Leach as partner