Munich Re Syndicate Singapore – the Asia-Pacific arm of the Dominick Hoare-led Lloyd’s syndicate – has continued its expansion in the region, entering a partnership with coverholder Nectar Specialty Risk.
Scor Global P&C grew its gross written premiums at the 1.4 renewals by 9.6 percent at constant exchange rates to Eur548mn ($619mn), with rates up significantly in Japan and US market conditions improving.
Swiss Re’s long list of large losses is likely to be above budget in its first quarter results, believe KBW analysts following a pre-close call with management.
Loss-affected contracts and programmes saw price increases of up to 25 percent at the Japan-dominated 1 April renewal balanced by flat pricing for loss-free classes and programmes, according to Willis Re.
HDI Global Specialty SE – the new insurance heavyweight created from the merging of the specialty lines activities of Hannover Re and HDI Global SE – has launched an Australian-based general aviation operation.
The influence of adverse loss development on “short-tail” wind risk is proving a common theme in Japanese and Florida negotiations. But the reinsurance buying culture in the two markets couldn’t be any more different.
Loss struck wind specific layers of excess-of-loss (XoL) covers bought by the Japanese “Big Three” carriers are seeing significant rate increases of 20-30 percent as reinsurers react to dramatic creep on Typhoon Jebi losses, The Insurer has learned.
Insured losses emanating from the flood event which impacted the Australian city of Townsville earlier this year are estimated at A$1.04bn ($742mn), according to the Insurance Council of Australia (ICA).
Loss aggregation firm Perils has pegged insured losses stemming from the flood event which impacted the city of Townsville earlier this year at AUD$957mn ($677mn).
State-back reinsurer China Re has launched a renewable energy reinsurance consortium at Lloyd’s which will focus on cover for the construction and operation of offshore wind farms in mainland China.
Emerging market insurance premiums will more than double over the next 10 years, outpacing growth in advanced markets by four times, according to forecasts from Swiss Re.
Lockton has hired former JLT Thailand CEO Philip Corrigan as regional chief operations officer for Asia-Pacific (APAC) as it looks to expand its business across the region.
After a buoyant 2018 the pace of insurance M&A is set to slow in the first half of this year as political and economic uncertainty across multiple regions detracts investors, according to forecasts.
Sydney-headquartered Insurance Australia Group (IAG) has launched the first catastrophe bond issued out of Singapore with the A$75mn issuance of Orchard ILS Pte.
The upcoming 1 April Japanese reinsurance renewal will see significant price increases on the back of 2018 cat losses that will vary hugely by type of cover and client, according to analysts from JMP Securities.