Posts Tagged ‘Asia’



October 29th, 2014

Guy Carpenter Publishes Flood Risks in Asia — A Detailed Study

Posted at 4:30 PM ET

Guy Carpenter today released a new report titled Flood Risk in Asia - A Detailed Study. The report provides an in-depth study of the flood potential in Asia along with the prevention and protection systems in place.

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September 13th, 2014

GC Videocast - Rendez-Vous Press Briefing 2014 (James Nash) Asia Pacific Sees Increased Understanding and Quantification of Catastrophe Risk

Posted at 2:17 PM ET

2014-mc-nash-photoJames Nash, CEO of Asia-Pacific Operations, Guy Carpenter, considered the potential that existed in Asia-Pacific. “It is a blend of mature and emerging markets,” he said, “full of opportunities and challenges, and it requires all market participants to have a broad and diverse set of skills and offerings.” He continued: “As regulation develops across the region, and insurers are open to a wider array of modelling options by vendor and peril, we are seeing an increase in the understanding and quantification of the catastrophe risk in the region. This in turn leads to more transparent risk and capital management decision-making,” but, “at this stage the majority of alternative capital activity remains in the mature markets of Japan and Australia.”

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July 28th, 2014

The Drivers of Agriculture Insurance in Asia, Part III: What Influences Agriculture Insurance?

Posted at 1:00 AM ET

peter_book_-smaller-hs3Peter Book, Head of Agriculture, Asia Pacific

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Having recognized what is driving agriculture and the importance of risk transfer, the next step is to look at what is influencing the insurance of agriculture and the impact of certain agents, ranging from governments to the (re)insurance industry.

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July 24th, 2014

The Drivers of Agriculture Insurance in Asia, Part II: Factors At Play

Posted at 1:00 AM ET

peter_book_-smaller-hs2Peter Book, Head of Agriculture, Asia Pacific

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Some would argue that individual governments have limited means to control the demand side of the equation. In respect of drivers such as food security and standard of living they are likely to be the main protagonists for change. Certainly the agricultural production sector and individual producers have even less influence.

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July 23rd, 2014

The Drivers of Agriculture Insurance in Asia, Part I: Introduction

Posted at 1:00 AM ET

peter_book_-smaller-hsPeter Book, Head of Agriculture, Asia Pacific

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Greater demands are being placed on Asia’s agricultural sector as the region’s rapidly changing economies and their increasingly affluent populations seek to boost living standards. This, in turn, will fuel the development of insurance products necessary to underpin the growth in agriculture.

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July 22nd, 2014

2014 Tropical Cyclone Landfall Predictions

Posted at 1:00 AM ET

A recent study shows it is possible to use a regional climate model to more accurately predict the number of tropical cyclone formations compared to predictions based solely on a global climate model. 

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June 4th, 2014

What is Food Security?

Posted at 1:00 AM ET

Here we review how the application of risk management practices and risk transfer can assist individual countries and small geographic locations with providing food security for the populace.

What is Food Security? Part I: Fundamentally food has to be safe, nutritious and available in sufficient quantity. On a global scale these are always achievable. It is at a country or smaller geographic territory-level where problems often arise.

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What is Food Security? Part II: A challenge in many regions is the transport from the farm of the right food to the consumer without physical loss or spoilage. Putting transit losses aside, there is a question of getting the “correct” food and influencing the supply chain.

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What is Food Security? Part III: Putting It into Practice and a Look to the Future: In several Asian countries there are already examples of attempts to alleviate the physical, social and economic factors that hamper food security. China in particular is rapidly developing a sophisticated agriculture insurance system with evidence of a number of different risk transfer instruments.

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May 28th, 2014

2014 Reinsurance Renewals

Posted at 1:00 AM ET

As we approach the June 2014 reinsurance renewals, we review the reinsurance renewals Guy Carpenter has reported on so far this year.

April Renewals Bring Price Reductions & Focus on Tailored Coverage: Guy Carpenter reports that the April 1, 2014 renewal was marked by price reductions and more tailored reinsurance coverage. Strong balance sheets, an abundance of capacity and a consolidation of buying led to lower reinsurance pricing across most territories and business segments at the renewal.

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January 1, 2014 Renewals Bring Downward Pressure on Pricing: Guy Carpenter & Company reports that reinsurance rates-on-line fell at the January 1, 2014 renewal in nearly all classes and regions. According to Guy Carpenter’s 2014 global renewal report, strong balance sheets, relatively low loss experiences and an unprecedented influx of convergence capital spurred competition and innovation at renewal. These factors led in turn to surplus capacity across most business segments as competition spilled beyond property catastrophe lines.

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May 22nd, 2014

Insurance Gaps in Emerging Economies

Posted at 1:00 AM ET

From our Chart Room, we review the increasing gap between GDP growth and reinsurance in the Asia Pacific region and the small proportion of losses that were insured in both the advanced and emerging economies. 

 

Chart: Increasing Gap Between GDP Growth and Reinsurance Limit in Asia Pacific: The chart shows that growth in reinsurance catastrophe limit in the Asia Pacific region has clearly not kept pace with economic growth since 2006. Stronger rates of economic growth in such emerging markets mean the gap between economic and insured losses has the potential to increase further.

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Chart: Economic and Insured Losses in Advanced and Emerging Economies: The chart shows how small a proportion of losses were insured in both advanced and emerging markets between 2002 and 2011.

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May 19th, 2014

Review of the Asia Pacific Market

Posted at 1:00 AM ET

Here we review recent GC Capital Ideas stories related to the Asia Pacific region. 

Asia/Australasia Catastrophe Review, 2013: Asia and Australasia also received their share of both natural and man-made catastrophes in 2013. One of the most costly man-made events occurred in China after a major fire hit a large microchip factory in September. The blaze caused significant damage to the SK Hynix-owned facility in the city of Wuxi, with reports saying the cost to the (re)insurance sector is expected to range between USD900 million and USD1 billion. The incident represents the most expensive single-risk loss on record to occur in China.

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Guy Carpenter Extends Coverage of Industrial Park Database to Include Vietnam, Malaysia and South Korea: In 2011, Thailand experienced its worst flooding in years with insured losses estimated at around USD15 billion, of which the Thai General Insurance Association attributed more than 90 percent arising from commercial risks located within industrial parks. As industrial parks are common in several countries in the region, Guy Carpenter developed a database of digitized boundaries of these parks to support its clients’ ability to analyze the potential for catastrophic losses arising from exposures located within park boundaries.

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Demand for Asia Pacific Catastrophe Reinsurance at a Record High in 2013: Total Asia Pacific catastrophe limit purchased in 2013 increased for the tenth year in a row, but once again failed to keep pace with strong gross domestic product growth in the region, according to a report released by Guy Carpenter.

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