Macau pilots parametric typhoon cover, reinsured by China Taiping

Macau, the autonomous region on the south coast of China, is piloting a parametric activated typhoon insurance product that will pay out only after typhoon warnings reach severe levels, with reinsurance backing the pilot from Hong Kong based China Taiping. The new typhoon insurance product has been designed for small and read the full article →

Reinsurance & ILS focus to shift alongside insured windstorm exposure

Cities in the Asia-Pacific region will become the dominant source of global insured windstorm exposure by the year 2070, as rising asset values, growing insurance and reinsurance penetration and rising populations in tropical storm hot spots change the risk landscape. Windstorm activity accounts for roughly 40% of global natural hazard losses read the full article →

Japanese insurers expected to buy more reinsurance & cat bonds: Fitch

Despite losses from recent catastrophe events in Japan being manageable there is an expectation that Japanese non-life insurers will seek to retain less risk on their balance-sheets and make greater use of reinsurance and ILS instruments like catastrophe bonds. Fitch Ratings said in an announcement this morning that Japanese non-life insurers read the full article →

Japan typhoon shrinks to just 1% of outstanding catastrophe bonds

With the maturity of Tokio Marine's $160m Kizuna Re Ltd. catastrophe bond, which it sponsored in 2011 to secure fully collateralized reinsurance cover for typhoon risks, Japanese typhoon has shrunk to make up just 1% of the outstanding cat bond market. Japan typhoon has always been a component peril of the read the full article →

PGA Sompo launches parametric typhoon insurance for Philippines

PGA Sompo Japan Insurance Inc, the Philippines based subsidiary of Sompo Japan Insurance Inc., has launched a parametric typhoon insurance product designed to mitigate against agricultural damage from major storms. Initially the typhoon product, which Sompo itself considers index-insurance but which appears a more simple parametric trigger structure, will be sold read the full article →

RMS works to reduce uncertainty in China typhoon risk model

Risk modelling, analytics and catastrophe risk management firm RMS has been working alongside China Property and Casualty Reinsurance Company (China Re P&C) in a project seeking to reduce uncertainty in its China typhoon risk model. A technical collaboration between RMS and China Re P&C, one of the leading non-life reinsurance companies read the full article →

Typhoon Matmo (Henry) targets Taiwan and China, rainfall a key risk

The western Pacific typhoon season continued to be active with the latest major storm, typhoon Matmo, targeting a first landfall on Taiwan where it will likely be a Category 2 storm followed by a second landfall in China as a weaker, probably Cat 1 typhoon. Typhoon Matmo (also known as typhoon read the full article →

Typhoon Rammasun could reach category 4 before landfall in China

Typhoon Rammasun is quickly approaching southern China and northern Vietnam with rapid intensification occurring meaning that the typhoon could reach category 4 status, one short of super typhoon, before it makes landfall. Unofficial reports suggest that typhoon Rammasun has intensified explosively as it crosses the south China sea with reports suggesting read the full article →

Willis Re: Super Typhoon Haiyan insured loss $500m to $700m

Reinsurance broker Willis Re has said that it believes that the insured loss total from Super Typhoon Haiyan could be in the region of $500m to $700m, which is at the top end of estimates for insured catastrophe losses from Haiyan which have been published so far. Richard Sanders, Executive Director read the full article →

Wide range of insured loss estimates for Super Typhoon Haiyan

A wide range of insured loss estimates is emerging from risk modellers for the damage to the insurance and reinsurance industry from devastating Super Typhoon Haiyan, which struck the Philippines with deadly force. Estimates currently range from $100m to $700m. The first risk modeller to come out with an estimate was read the full article →