Posts Tagged ‘korea’



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.

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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>> 

 

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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.

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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.

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April 9th, 2013

April 1 Renewals See Reinsurance Pricing Stabilize Amid Dynamic Capital Growth

Posted at 11:28 PM ET

Guy Carpenter reports that dynamic capital growth and ample reinsurance capacity resulted in a relatively stable renewal at April 1, 2013. In a briefing released today, Guy Carpenter comments that the convergence of traditional and alternative capital sources is changing the marketplace, with non-traditional capacity now making up an estimated 14 percent of global property catastrophe limit.

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April 18th, 2012

April 1, 2012, Reinsurance Renewals: Republic of Korea

Posted at 1:00 AM ET

Reinsurance rates in Korea were generally up 5 percent to 25 percent year over year on a risk-adjusted basis at the April 1, 2012, reinsurance renewal. Even though Korean catastrophe treaties were generally clean over the past 12 months, rates increased because of a general market hardening following the large number of insured losses across Asia. Heightened scrutiny of interests abroad also contributed to an upward movement in catastrophe pricing for Korean treaties.

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April 5th, 2012

Reinsurance Rates Rise at April 1, 2012 Renewals

Posted at 1:00 AM ET

Reinsurance rates rose as the market continues to work through the impact of the events of 2011, according to Guy Carpenter. In a briefing released today, Guy Carpenter reports that this year’s April 1 renewals are continuing the general trends observed at January 1, 2012.

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February 29th, 2012

Verification of Forecasts of Tropical Cyclone Activity Over the Western North Pacific and Number of Tropical Cyclones in South China and the Korea and Japan Region in 2011

Posted at 1:00 AM ET

Since 2000, City University of Hong Kong has been issuing real-time predictions of the annual number of tropical cyclones (TCs) affecting the western North Pacific. Verifications of the predictions have shown that the predictions are mostly correct within the error bars. The organization also began to predict the number of TCs making landfall in South China and the Korea and Japan region in 2009 and 2010 respectively. These are all statistical predictions with predictors drawn from a large group of indices that represent the atmospheric and oceanographic conditions in the previous year up to the spring of the current year. This report reviews the success of the predictions.

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April 8th, 2011

Republic of Korea at April 1 Renewals

Posted at 1:00 AM ET

In 2010 Korean property programs were impacted by Typhoon Kompasu, which hit the northern regions of South Korea in early September 2010. Most insurers suffered losses to the first layers of their property catastrophe excess of loss treaties and in some cases the claims ran into subsequent layers.

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