At the April 1 reinsurance renewals, property catastrophe pricing increased for the third year in a row. Following the first loss-free year since 2018, there was some consolation for buyers in that the average increase was the lowest of the past three years. Rates moved up on average by a small percentage for mutual buyers. ... Continue Reading »
Asia Pacific
Guy Carpenter Launches Asia Pacific Capital Advisory Group
Guy Carpenter announced the launch of its Capital Advisory Group in Asia Pacific, with the appointments of Michael Owen and Hussain Ahmad to lead this new operation. The capital pressures that insurance companies face due to evolving market dynamics, regulatory developments and shareholders’ return expectations require sustainable, efficient and targeted solutions. The new ... Continue Reading »
CAT-i Bulletin: Mw 7.1 Fukushima Earthquake, Japan February 13
The Fukushima Mw 7.1 earthquake occurred at 23:07 local time (14:07 UTC), on Saturday February 13. The United States Geological Survey (USGS) reported the epicenter to be 96.6 km southeast of Sendai, Japan at a depth 49.9 km. The Japan Meteorological Agency (JMA) reported this event to be Mj 7.3, at a depth of 55 km. Multiple aftershocks occurred within less than an hour, and ... Continue Reading »
Guy Carpenter Appoints Head of Japan
Guy Carpenter today announced the appointment of Pietro Toffanello as Head of Japan in the first quarter of 2021. ... Continue Reading »
CAT-i Bulletin: Typhoon Vamco (Ulysses)
Typhoon Vamco made its first landfall on Patnanungan Island (Quezon Province, Philippines) around 10:30 PM local time on November 11 as a category-1 equivalent on the Saffir-Simpon scale. The typhoon then gained category-2 strength before crossing Quezon and then Luzon. The system caused extensive flood damage, with Metro Manila seeing its worst flooding in years. Disruption to ... Continue Reading »
Guy Carpenter Launches Probabilistic Vietnam Flood Model
Guy Carpenter today announced the launch of its new Vietnam Flood Model. The fully probabilistic model provides countrywide coverage and enables insurers to assess their exposure to floods, which affect 70 percent of the country’s population. ... Continue Reading »
CAT-i Bulletin: Super Typhoon Goni (Rolly)
Super Typhoon Goni made landfall on Bato (Catanduanes province, Philippines) around 4:50 AM local time on Sunday, November 1 as a Category 5-equivalent super typhoon. 1-Minute sustained winds prior to landfall were around 315 km/hr (195 mph). The storm made three additional landfalls while tracking north-west and passed south of the National Capital Region. Severe wind damage ... Continue Reading »
Political Risk Map 2020: Mid-Year Update for Asia-Pacific
Terrorism, political violence and other malicious acts differ from other insurable perils in that they are dynamic and adaptive; there is human intent driving the probability and willing the impacts to change. Historic incidents show past trends, but those are only partial drivers of future trends as terrorists adapt their tactics in response to past effectiveness and current ... Continue Reading »
CAT-i Bulletin: Typhoon Haishen
Typhoon Haishen made landfall near Ulsan, South Korea around 9 AM GMT+9 Monday, with 1-minute maximum sustained winds of around 155 km/hr (96 mph) prior to landfall, a category-2. About six hours before landfall, the storm brushed past Japan’s Kyushu Island. Haishen hit areas already affected by typhoon Maysak, and flood effects were further amplified by prior monsoon activity ... Continue Reading »
Guy Carpenter Launches Probabilistic Indonesia Flood Model
Guy Carpenter announced the launch of its new Indonesia Flood Model. The fully probabilistic model provides countrywide coverage and enables insurers to assess their exposure to floods, the most frequently occurring natural peril in the country. ... Continue Reading »
