The life insurance industry in Australia is facing unprecedented challenges from forces within and from the effects of an increasingly globalized economy. As life industry profitability has declined in Australia in recent years, the underlying manufacturing business model is rapidly changing, according to Matthew Rose, Managing Director, Guy Carpenter. ... Continue Reading »
Australia
First Singapore Catastrophe Bond Sets Stage for ILS Expansion in Asia-Pacific
The first catastrophe bond has been issued out of Singapore. This highlights the potential of the insurance- linked securities (ILS) market in the region, and is aligned with the city-state's efforts to establish itself as a global hub for Asian risk transfer. The bond is sponsored by Insurance Australia Group (IAG) as part of its 2019 catastrophe aggregate reinsurance cover ... Continue Reading »
Sydney Hailstorms, December 20, 2018
A severe convective storm affected large parts of New South Wales, including Sydney, the Central Coast and Wollongong from 4:00 to 7:00 pm on December 20, 2018. The storm generated large hail, damaging winds and flash flooding in many areas of the state. According to the Australian Bureau of Meteorology (BOM), there were ground reports of hail of 8 cm diameter in Berowra ... Continue Reading »
Global Insurance Prices Rise for Fourth Consecutive Quarter
Dean M. Klisura President, Global Placement and Specialties, Marsh Contact Trends in property and financial and professional lines of coverage drove average commercial insurance prices higher for the fourth consecutive quarter, according to the most recent Marsh Global Insurance Market Index. Global commercial insurance prices tracked in the index rose, on average, more than ... Continue Reading »
14 Shades of Risks: Navigating the Risk Landscape in Asia-Pacific
The Asia-Pacific region (APAC) has become the world's primary driver of global economic growth. While often referred to as one economic bloc, the Asia-Pacific region is home to countries and territories that are vastly different from each other in terms of demographics, economic development stages, political institutions and cultures. This regional heterogeneity translates to a ... Continue Reading »
Recent Thought Leadership from Guy Carpenter – Asia Pacific Focus
Here we present a recap of recent thought leadership from Guy Carpenter focusing on important insurance and reinsurance topics in Asia Pacific. Are You at Risk? Managing Affirmative and Silent Cyber Risk Accumulation Closing the Gap: Insurance Penetration and Public Sector Risk Financing in Asia Pacific The Transformation of Australian and New Zealand life insurance Flood ... Continue Reading »
The Transformation of Australian and New Zealand life insurance – GC@SIRC Commentary
Matthew Rose, Managing Director Contact Foreign companies are seeking the long-term growth opportunities that the Australian market offers Insurers are gaining understanding of the significance of efficient and dynamic restructuring of their capital Regular discussions ensure that covers are properly structured to reflect current risk/capital needs ... Continue Reading »
Global Insurance Prices Rise for Third Consecutive Quarter
Dean M. Klisura President, Global Placement and Specialties, Marsh Contact Global commercial insurance prices rose, on average, in the second quarter of 2018, marking a third consecutive quarter of increases, according to the most recent Marsh Global Insurance Market Index. The increase in the index was driven largely by pricing for property and financial and professional ... Continue Reading »
Asia Pacific Catastrophe Report 2017: Executive Summary: Protection Gap and Convergence Capital
The proportion of losses uninsured in the Asia Pacific region remains high. For example, examination of this year's major landfalling typhoons in China shows a wide discrepancy between economic and insured losses. ... Continue Reading »
Asia Pacific Catastrophe Report 2017: Executive Summary: Losses
Insured losses in Australia and New Zealand were the largest events. The region was also impacted by floods in China, India and Thailand and an earthquake in China. Once again, flood was a major contributor to economic losses in the region, but often in areas where insurance penetration was limited. Flood is difficult for (re)insurers to model, but Guy Carpenter has made ... Continue Reading »
