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Munich Re names Steven Chang Chief Exec. non-life, Greater China

Munich Re has promoted Steven Chang to the role of Chief Executive, Greater China, which will see him lead the reinsurance giant's non-life business and operations across mainland China, Taiwan, Hong Kong and Macau.Steven Chang first joined Munich Re in 1997 and helped to build up its operations in the read the full article →

Expanding exposure highlights China’s need for catastrophe bonds

Rapidly expanding insured catastrophe and severe weather exposure in mainland China highlights the need for risk transfer instruments such as catastrophe bonds, which also presents an opportunity for Hong Kong's ambitions to become a marketplace for insurance-linked securities (ILS).China's rapidly expanding economy, growing infrastructure and increasing urbanisation in regions exposed read the full article →

Shanghai, China looks to trial catastrophe bonds: Regulator

The city of Shanghai in China is once again targeting catastrophe bonds as a new offering for its local insurance and reinsurance market, as insurance-linked securities (ILS) remain a risk transfer tool target for the regulator in the area.China has discussed the use of catastrophe bonds numerous times in recent read the full article →

More UK ILS deals on the way, as PRA notes ILS vital for UK’s competitiveness

Artemis understand that there are a number of new efforts to use the UK's ILS regulatory regime underway, with a range of transactions mooted and being explored or actively worked on currently. At the same time the UK regulator has noted the importance of ILS to the UK's competitiveness.The Bank read the full article →

China Re & Singapore discuss ILS and cat bond cooperation

The Chairman of Chinese reinsurance firm China Re visited Singapore recently where he discussed issues related to the reinsurers work in the Singapore re/insurance market, including discussions on the potential for cooperation between China Re and Singapore in the area of catastrophe bonds.China Re is no stranger to catastrophe bonds, read the full article →

Brexit seen as UK ILS deterrent for some sponsors

Brexit, or the impending exit from the European Union by the United Kingdom, has been seen to be deterring some potential sponsors of insurance-linked securities (ILS) transactions under the recently launched UK ILS regulatory and tax framework.At an event held at Lloyd's this morning by the Lloyd’s Market Association (LMA) read the full article →

UK wants China to use its new ILS framework for catastrophe bonds

The United Kingdom government has been courting China and trying to encourage the country to look towards the UK and its recently enacted insurance-linked securities (ILS) regulatory and tax framework as a vehicle to help China and its entities gain access to greater disaster insurance or reinsurance protection.In December 2017 read the full article →

China hit by $20bn economic loss from natural disasters in July

Underscoring the need for significantly higher insurance and reinsurance penetration in China, the country's government has reported that natural disasters during the month of July 2017 alone have resulted in direct economic losses of around US $20 billion.Of the 135 billion yuan (20 billion U.S. dollars) of direct economic losses read the full article →

Parametric insurance launched for farmers in China, backed by Swiss Re

The first parametric disaster insurance programme for farmers in China has been launched, covering participants against the impacts of flood, excessive rain, drought and low temperatures in 28 counties across Heilongjiang province.Global reinsurance firm Swiss Re has provided the risk transfer required to back this new parametric insurance programme, by read the full article →

Shanghai Insurance Exchange could launch within days

The anticipated Shanghai Insurance Exchange could launch as early as this weekend, according to reports in Chinese news media. While product specifics remain private, reports suggest the exchange will facilitate insurance derivatives and other forms of risk securitization at some stage.With $343 million (2.235bn yuan) of required financing being secured read the full article →