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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 →

Hokkaido, Japan quake unlikely to hit any cat bonds: Plenum

The magnitude 6.7 earthquake that struck the Sapporo region of Hokkaido, Japan early this morning is not anticipated to cause any losses to the catastrophe bond market, despite as much as 8% of outstanding cat bond risk capital could be exposed to an earthquake striking the country.Artemis' data shows that read the full article →

Strong M6.7 earthquake strikes Sapporo area of Hokkaido, Japan

At least two people have died and currently over 30 unaccounted for following a strong magnitude 6.7 earthquake that struck the Sapporo area of Hokkaido in Japan this morning, causing damage to property, infrastructure and landslides that have engulfed more dwellings.The earthquake struck at 3:08am local time around 39 miles read the full article →

Japan rains & floods estimated as up to $4bn re/insurance industry loss: AIR

The recent flooding in Japan caused by extreme levels of rainfall could result in an insurance and reinsurance industry loss as high as $4 billion, according to catastrophe risk modeller AIR Worldwide.The latest estimate for the impact to the insurance and reinsurance market from the severe flooding in western Japan read the full article →