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Mitsui Sumitomo secures 33% upsize to $100m for Akibare 2020 cat bond

Japanese primary insurer Mitsui Sumitomo, an MS&AD Holdings insurance company, has successfully secured its targeted upsize for its new catastrophe bond, the Akibare Re Pte. Ltd. (Series 2020-1) Japan typhoon and flood risk transaction, with the deal set to provide the firm $100 million of reinsurance.Mitsui Sumitomo came back to read the full article →

Mitsui Sumitomo lifts target for Akibare Re 2020 to $100m at higher pricing

Japanese primary insurer Mitsui Sumitomo, an MS&AD Holdings insurance company, has lifted its target for its new catastrophe bond, the Akibare Re Pte. Ltd. (Series 2020-1) Japan typhoon and flood risk transaction, with the deal now seeking up to $100 million of reinsurance coverage for the company.Mitsui Sumitomo returned with read the full article →

Mitsui Sumitomo sponsors $75m Akibare Re 2020 Japan typhoon & flood cat bond

Mitsui Sumitomo, an MS&AD Holdings insurance company, has returned to the catastrophe bond market to top-up its capital markets backed reinsurance protection with a currently $75 million Akibare Re Pte. Ltd. (Series 2020-1) Japan typhoon and flood risk transaction.This new Akibare Re catastrophe bond is the fifth transaction to take read the full article →

Japanese wind & aggregates see biggest April renewal rate rises

The April reinsurance renewals in Japan look set to deliver their largest rate increases to wind and aggregate layers of reinsurance towers, with severely loss impacted lower layers of programs seeing rises of 20% to 30%, we're told.Underwriting market sources said that negotiations are completed for many Japanese reinsurance renewals read the full article →

Loss affected P&C rates to rise 10%+ in Asia: Willis Towers Watson

Catastrophe loss affected property and casualty insurance accounts are expected to rise by at least 10% in Asia through 2019 according to the broker, a forecast which bodes well for upcoming reinsurance renewals in Japan and the region.Insurance and reinsurance broking group Willis Towers Watson provides insights into Asian commercial read the full article →

Still work for ILS players to do on market share in Japan, analysts say

ILS funds and collateralised reinsurance markets have more work to do on gaining market share in Japan, according to analysts who say that relationships with traditional reinsurers continue to dominate there.With the upcoming April 1st reinsurance renewals forecast to see price increases after the heavy catastrophe load suffered by Japan read the full article →

Some “significant price increases” expected at April 1 renewal in Japan: JMP

Reinsurance rates for Japanese accounts are expected to broadly rise at the upcoming April 1st renewals, with some price increases expected to be "significant" while more broadly there is a hope for widespread double-digit rate improvements.JMP Securities analysts visited Japan in advance of the April renewal season to discuss market read the full article →

Wind & water disaster payouts hit record level for Japanese insurers

The major Japanese insurance firms are set to payout record levels of claims following wind and water related natural disasters in the country in 2018, with as much as $8.8 billion of losses expected just for the top three firms.Reinsurance capital providers, including ILS funds and other third-party capital vehicles, read the full article →

Claims paid for July rains & floods in Japan approach $1.5bn

The July flooding in Japan caused by extreme levels of rainfall has now resulted in almost $1.5 billion of insurance claims paid, according to the latest figures from the General Insurance Association of Japan (GIAJ).Recently, catastrophe risk modelling specialist AIR Worldwide estimated an insurance and reinsurance industry loss of somewhere read the full article →

Japan may face billion dollar losses from typhoon Jebi, Hokkaido quake

Japan and its insurance industry may be facing billion of dollars of losses from the impacts of yesterday's magnitude 6.7 earthquake in Hokkaido and recent typhoon Jebi, which was the strongest storm to hit the Japanese mainland in 25 years.Japan has been beset by weather and catastrophe losses in recent read the full article →