US storms drive nat cat losses in active June

US storms drive nat cat losses in active June

US storms drive nat cat losses in active June

Global catastrophes made June the most active month for natural disasters this year, with insurance claims led by more than $3bn of losses from eight recorded convective storms and flash floods in the US, according to Aon’s Impact Forecasting. Large hailstones, some the size of baseballs, and winds affected parts of the Rockies, Plains, midwest, southeast and northeast in the…

China braces for deadly typhoon as Japan counts human and economic cost

China braces for deadly typhoon as Japan counts human and economic cost

China braces for deadly typhoon as Japan counts human and economic cost

China is bracing itself for the impact of Typhoon Maria, which has already led to the deadliest flood disaster in Japan since 1983, caused huge disruption and will lead to heavy insured losses, not least business interruption. The typhoon skirted past Taiwan and caused much lower damage than originally expected. But it continued northwest toward the eastern coast of China, making…

Tokio Marine shifts focus back to Asia with $9bn war chest for acquisitions

Tokio Marine shifts focus back to Asia with $9bn war chest for acquisitions

Tokio Marine shifts focus back to Asia with $9bn war chest for acquisitions

Fast-expanding Japanese insurer Tokio Marine has a $9bn ‘warchest’ available for overseas purchases targeted mainly at the broader Asia region, according to news agency Reuters. Tokio Marine and rival leading Japanese insurers such as Sompo and Mitsui Sumitomo have expanded aggressively in recent times as they have struggled to deliver growth and decent returns in a persistently sluggish domestic market. The…

Risk managers have key role in rise of the robots

Risk managers have key role in rise of the robots

Risk managers have key role in rise of the robots

Very few professions have been left unchallenged by the rise of new technology, in particular the prevalence of automation and artificial intelligence. However the rise of the so-called economy 4.0 could generate new opportunities for corporate risk managers, especially in Asia where the use of robotics and automation is outstripping other regions. For decades we have seen automation and robotics…

Global premium volume to nearly double by 2030, Munich Re predicts

Global premium volume to nearly double by 2030, Munich Re predicts

Global premium volume to nearly double by 2030, Munich Re predicts

Global premium volume is likely to reach around €7.9trn by 2030, almost double the volume of €4.2trn in 2017, according to Munich Re. Of the additional premium of €3.7trn by 2030, some €1.2trn is expected to come from China alone, with almost two thirds of this likely to derive from life and health insurance business, with the rest coming from…

Top three Japanese insurance groups report mixed results for fiscal 2017

Top three Japanese insurance groups report mixed results for fiscal 2017

Top three Japanese insurance groups report mixed results for fiscal 2017

The mixed net profits reported for fiscal year 2017 by Japan’s top three P&C insurance groups were underpinned by their overseas business, according to Moody’s Japan KK. “On the other hand, fundamental underwriting profitability in their domestic business stabilises after an improvement in prior years, given the removal of one-time factors, such as a large increase in natural catastrophe losses,”…

Further M&A activity in the re/insurance sector expected, says Hogan Lovells

Further M&A activity in the re/insurance sector expected, says Hogan Lovells

Further M&A activity in the re/insurance sector expected, says Hogan Lovells

There will be further consolidation in the reinsurance and P&C sectors and continuing private equity activity will remain at the forefront of mergers and acquisitions (M&A) in 2018, according to Hogan Lovells. A new paper from the law firm, Insurance M&A 2017/2018, states that overall, insurance M&A activity during 2017 could be characterised as a case of quality over quantity,…

Reinsurers bemoan lack of rate change in Asian insurance market

Reinsurers bemoan lack of rate change in Asian insurance market

Reinsurers bemoan lack of rate change in Asian insurance market

Despite the fact that 2017 was a severe year of natural catastrophes, the Asian insurance market has seen little impact in terms of rate changes, much to the disappointment of many insurers and reinsurers. Rates in the region have been deteriorating for several years, due to excess capacity and strong competition. This has led insurers to question whether certain commercial…

Toa Re further expands in Europe with new Zurich operation

Toa Re further expands in Europe with new Zurich operation

Toa Re further expands in Europe with new Zurich operation

Another example of Japanese and wider Asia-based capital’s desire to access European insurance and reinsurance markets came this week as Toa Re, the sole domestic Japanese reinsurance group, announced the launch of Toa Re Europe based in Zurich, Switzerland. The Japanese group said it would use the new platform to accelerate plans to offer capacity to third-party non-Japanese customers, as…

1 2 3 9