Posts Tagged ‘Taiwan’



November 14th, 2018

Safeguarding Development in Asia-Pacific – Upgrading Infrastructure to Match Demand

Posted at 1:00 AM ET

_offset_472526_smallIn many parts of Asia-Pacific, infrastructure development does not meet the region’s rapid economic growth and urbanization, according to the latest report by Marsh & McLennan Companies’ Asia-Pacific Risk Center. The study, titled “From Threats to Impact - Evolving Risk Concerns in Asia-Pacific,” notes a finding by Asian Development Bank (ADB) that developing countries in Asia-Pacific and central Asia will require an additional USD 22 trillion for infrastructure development to maintain economic growth and eradicate poverty between 2015 and 2030.

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November 12th, 2018

Increasing Frequency of Extreme Weather Events in Asia Pacific

Posted at 1:00 AM ET

_offset_472526_smallThe Asia Pacific may be the most adversely impacted region by the pronounced increase in the frequency of extreme weather events around the world. The Guy Carpenter Asia-Pacific Catastrophe Report 2017 projects an increase in economic losses from natural disasters in Asia, which amounted to USD 126 million a day between 2006 to 2015 (1).

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November 9th, 2016

Asia Pacific Catastrophe Report 2016: Executive Summary: Post-El Niño: Part I

Posted at 1:00 AM ET

bromo-volcano-east-java-indonesia-smThe U.S. National Oceanic and Atmospheric Administration (NOAA) Climate Prediction Center predicts there is 55 percent to 60 percent chance that strong El Niño conditions will transition to La Niña conditions in the fall and winter of 2016-2017.(1) This kind of transition year has been observed four times since 1950 (1966, 1973, 1983 and 1998).

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November 3rd, 2016

Asia Pacific Catastrophe Report 2016: Executive Summary: Losses

Posted at 1:00 AM ET

bromo-volcano-east-java-indonesia-smEarthquakes in Taiwan and the Kumamoto prefecture of Japan and floods in southern China were the largest events. The reinsurance share of these losses appears modest. Barring a major catastrophe before the end of the year, catastrophe reinsurers are expected to return a healthy profit in Asia Pacific for the fourth year in a row.

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September 28th, 2016

Typhoon Megi

Posted at 1:40 PM ET

typhoon-megi-smIn the Northwest Pacific Basin, Typhoon Megi made landfall in central Taiwan Tuesday afternoon, local time. The typhoon brought reports of excessive rainfall, flash-flooding, and roof damage for affected areas. Isolated rainfall amounts exceeding 1,250 millimeters (50 inches) were reported, with general rainfall amounts of 250 millimeters (10 inches) or more.

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September 16th, 2016

Super Typhoon Meranti

Posted at 2:07 PM ET

super_typhoon_meranti-smSuper Typhoon Meranti made close approach to southern Taiwan with one-minute sustained winds of 305 kilometers per hour (190 mph), among the strongest tropical cyclones on record. Meranti rendered significant flooding and wind impacts to southern Taiwan, with nearly 800 millimeters (32 inches) of rainfall for some locations. Meranti then weakened to make final landfall on Mainland China in Fujian Province with one-minute sustained winds of 170 kilometers per hour (105 mph). Meranti rendered significant flood impacts and damage to infrastructure following final landfall. At least 11 fatalities and 82 injuries have been reported. Our first thoughts and concerns are with those lost and directly affected by this event.

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July 12th, 2016

Super Typhoon Nepartak

Posted at 2:18 PM ET

typhoon-nepartak-sm2Super Typhoon Nepartak made landfall on the southeast coast of Taiwan around 22 UTC on July 7, before final landfall as a tropical storm on Mainland China around 06 UTC on July 9. Nepartak has rendered significant flood impacts both in Taiwan and Mainland China according to media reports, with at least 10 and three dead in Mainland China and Taiwan, respectively. Flood impacts have been especially severe in Mainland China, which was affected by excessive monsoon rains just prior to Nepartak. Our first thoughts and concerns are with those lost and directly affected.

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January 19th, 2016

Developments in Asia Pacific: Overview, Part I

Posted at 1:00 AM ET

Asia Pacific is a diverse mix of countries encompassing nearly one-third of the earth’s landmass and more than one half of its population. Given the broad spectrum of economic and regulatory sophistication across the region, the approach to insurance regulation has varied on a country-by-country basis as each regime adapts solvency principles to their own needs and political realities.

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November 2nd, 2015

Guy Carpenter Report Evaluates (Re)Insurance Regulatory Advancement in the Asia Pacific Region

Posted at 3:30 PM ET

Guy Carpenter today published an assessment of the development of solvency requirements and regulatory initiatives that are impacting (re)insurers in the Asia Pacific (APAC) region. According to the report, these developments are driven by four key motivators, including the need to improve resiliency post-catastrophic loss; to increase oversight in a post-Great Recession world; to follow best practices from the banking and international insurance sectors; and finally, to satisfy domestic political pressures.

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