Posts Tagged ‘Asia’



April 17th, 2014

ERM Benchmark Review Update 2013

Posted at 1:00 AM ET

Here we bring together the GC Capital Ideas four part Enterprise Risk Management Update story for 2013:

ERM Benchmark Review, 2013 Update: Part I: In April and October 2009, Guy Carpenter published two briefings titled “Risk Profile, Appetite and Tolerance: Fundamental Concepts in Risk Management and Reinsurance Effectiveness.” This briefing is an update of those studies that summarizes the information publicly disclosed on enterprise risk management (ERM) measures.

Read the article>> 

 

ERM Benchmark Review, 2013 Update: Part II: Before focusing on the results of the latest study, we would like to reaffirm the definition of risk profile, risk appetite and risk tolerance found in our previous publications.

Read the article>> 

 

ERM Benchmark Review, 2013 Update: Part III: The table quantifies the proportion of companies in the sample that disclose the method as well as the specific level of various risk quantifications. Compared to our previous ERM benchmark study, a new metric referring to catastrophe risk has been added. Taking advantage of the increased level of disclosure and transparency on catastrophe risk exposure, we have extended our reports to include this in view of its importance in the economic capital approach of (re)insurers.

Read the article>> 

 

ERM Benchmark Review, 2013 Update: Part IV: Capital management using risk-based capital models and capital allocation is a central component of risk management practices. We have investigated this topic as a new chapter for our 2013 ERM Benchmark update. In this context, the table shows the portion of companies that publish concrete data on their excess capital - the amount of capital retained in excess of a certain target amount. The table also shows both the portion of companies using risk-based capital models in the risk management process and the portion giving some indication of the methodology of the capital allocation process.

Read the article>> 

 

Click here to register to receive e-mail updates >>

April 16th, 2014

Reinsurance Renewals in 2014

Posted at 1:00 AM ET

As we complete the April 1, 2014 reinsurance renewal, we review the GC Capital Ideas renewal stories of 2014. 

January 1, 2014 Renewals Bring Downward Pressure on Pricing: Guy Carpenter 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.

Read the article>> 

 

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.

Read the article>> 

 

Click here to register to receive e-mail updates >>

April 9th, 2014

April Renewals Bring Price Reductions & Focus on Tailored Coverage

Posted at 11:30 PM ET

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.

Continue reading…

March 26th, 2014

What is Food Security? Part III: Putting It into Practice and a Look to the Future

Posted at 1:00 AM ET

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

Contact

Putting it into practice

In several Asian countries there are already examples of attempts to alleviate the physical, social and economic factors that hamper food security.

Continue reading…

February 20th, 2014

Asia/Australasia Catastrophe Review, 2013

Posted at 1:00 AM ET

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.

Continue reading…

February 12th, 2014

Global Catastrophe Losses Fell Well Below Average in 2013

Posted at 11:45 PM ET

Guy Carpenter & Company released its 2013 Catastrophe Review, which shows that natural catastrophes and man-made disasters in 2013 resulted in insured losses of approximately $40 billion. Following above-average losses experienced in 2011 and 2012, 2013 provided a respite for the (re)insurance industry as insured losses were considerably less than the ten-year average of approximately $60 billion.

Continue reading…

January 22nd, 2014

Chart: Increasing Gap Between GDP Growth and Reinsurance Limit in Asia Pacific

Posted at 1:00 AM ET

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. Continue reading…

November 8th, 2013

Super Typhoon Haiyan

Posted at 3:05 PM ET

haiyan-smallSuper Typhoon Haiyan meets or surpasses the record of the strongest landfalling tropical cyclone in recorded history, and is among the strongest ever recorded. Haiyan made landfall during the early morning hours of November 8 near Guiuan, with estimated 1-minute wind speeds of 185-195 mph (300-315 km/hr). While it is still too early to fully assess impacts to the area, severe to complete wind damage is a near certainty adjacent to the storm track, with wave battering and water velocity damage most severe within 20 miles (32 km) of the storm track.

Continue reading…

November 4th, 2013

Guy Carpenter Extends Coverage of Industrial Park Database to Include Vietnam, Malaysia and South Korea

Posted at 4:30 PM ET

In 2011, Thailand experienced its worst flooding in years with insured losses estimated at around USD15 billion,(1) 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.

Continue reading…

October 30th, 2013

Guy Carpenter Study Challenges Views of Seismic Risk in Japan

Posted at 5:00 PM ET

The Tohoku rupture of 2011 changed the market’s understanding of seismic risk in Japan. The Mw 9.0 event occurred in an area where earthquakes of up to only Mw 8.4 were thought possible. Following the event there was increased publicity surrounding the so-called Tokyo Fragment theory and discussion around the potentially increased probability of earthquakes near Tokyo.

Continue reading…