japan

Japanese reinsurance cedents continue to access the insurance-linked securities (ILS) market for capacity with the catastrophe bond the preferred structure, underscoring the strategic role of cat bonds, AM Best has said. But changes coming to the Japanese insurance market through M&A could influence the amount of risk flowing to the ILS market, at least for […]

Howden Re has reported that risk-adjusted catastrophe excess-of-loss (XoL) reinsurance rates-on-line for Japan saw reductions of 10-15% at the April 1st 2025 reinsurance renewals, as pricing “eased from a high base” and sellers sought to protect or grow positions at the renewal amidst higher competition and greater supply.

The recent and first ever ‘megaquake’ warning issued by authorities in Japan has heightened the perception of the peril’s risk and even though the warning was eventually lifted, it is seen as a factor that could be supportive of reinsurance pricing for that country, by analysts at J.P. Morgan.

Keystone ILS Capital, a structuring and advisory specialist focused on catalysing more active use of insurance-linked securities (ILS) in Japan that was launched in the country by former Aon Securities executive Shinji Yamamoto, has received an investment from broking group Howden and appointed Carsten Thienel as a Senior non-executive Director, Artemis can report.

Moody’s RMS has estimated the insurance market loss from the January 1st M7.5 earthquake that hit near the Noto peninsula in Ishikawa prefecture, Japan, at between US $3 billion and $6 billion.

Verisk’s Extreme Event Solutions business unit has estimated the insurance industry loss from the January 1st M7.5 earthquake that hit near the Noto peninsula in Ishikawa prefecture, Japan, at between JPY 260 billion (US $1.8 billion) and JPY 480 billion (US $3.3 billion).

A second modelled insurance industry loss estimate for the damaging earthquake that struck Japan on New Year’s day has now been released, with CoreLogic saying it believes the total will be below $5 billion.

Insurance industry losses from the January 1st magnitude 7.5 earthquake that struck the Noto peninsula on Japan’s west coast could reach $6.4 billion, with residential property seen as the major contributor, according to risk modelling firm Karen Clark & Company (KCC).

The damaging magnitude 7.5 earthquake that struck Japan’s Ishikawa prefecture on the west coast of the main island of Honshu on New Year’s Day could affect the April reinsurance renewal outcome for Japanese insurers, if the excess layers of reinsurance programs are impacted, rating agency AM Best has said.

Catastrophe bond and insurance-linked securities (ILS) investment manager Twelve Capital has said in an update that it does not currently anticipate any direct losses due to the major earthquake in Japan to any positions it holds.