December 4th, 2018

Asia Pacific Reinsurance Market: Abundant Capacity and Flat Pricing

Posted at 1:00 AM ET

front-cover150x140For buyers of catastrophe reinsurance in the Asia Pacific region, pricing has remained largely flat during 2018. The region has experienced losses during the year to date, and at the time of writing, it is expected that a proportion of these will impact reinsurers. At the same time, market capacity remains abundant and underlying reinsurance market conditions are favorable for buyers, as reported by Guy Carpenter in its 2018 Asia Pacific Catastrophe Reinsurance Executive Summary. The effect of the 2018 losses on market sentiment going forward is not fully understood.

As widely predicted, the year 2017 finished with one of the largest global insured catastrophe loss totals ever. The year 2017 was only the third year in history that the global insured loss total exceeded USD 100 billion. As mentioned in last year’s report, most of the losses were generated in territories away from the Asia Pacific region. The upshot was that catastrophe reinsurers in the Asia Pacific region had an average year, despite some low-level attritional losses. The price increases experienced by North American buyers at the January 2018 renewals were not mirrored in the region. Overall price levels for Asia Pacific reinsureds have basically remained at a stable level year on year.

Download 2018 Asia Pacific Catastrophe Reinsurance Executive Summary >>

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