Investment volatility to constrain China Re earnings: S&P

Analysts at S&P Global Ratings have warned that investment market volatility will constrain China Reinsurance (Group) Corp.’s earnings, potentially eating into its capital buffer and potentially eclipsing the progress it has made in overhauling its underwriting. The rating agency notes that China Re is more susceptible to credit and market risks than its international peers […]

Asia-Pacific reinsurers can use ILS capital to compete with global peers: AM Best

Reinsurance companies in the Asia Pacific region can leverage insurance-linked securities (ILS) and alternative capital to capture hardening market opportunities and become more competitive with their global peers, rating agency AM Best has advised. Alternative capital and insurance-linked securities (ILS) can help to make regional reinsurers more competitive in their home countries and also globally, […]

African Risk Capacity (ARC) seeks cost-efficiency and capacity

The African Risk Capacity (ARC), a provider of parametric disaster insurance products to countries and now other entities in Africa, wants to become the continent’s disaster risk financing provider of choice, but increasing its capacity and lowering-costs for country members remains key. Efficiency has always been important for the African Risk Capacity (ARC), particularly in […]

Pakistan minister cites catastrophe bonds as workable climate finance solution

At a recent climate finance focused event, Pakistan’s Minister for Climate Change, Sherry Rehman, called on international governments to place climate finance and losses at the heart of COP 27 talks next year, with catastrophe bonds one instrument seen as having a role. Loss and damage has been a key sticking point in climate talks […]

Asia Insurance Review: Hybrid solutions for China’s natural catastrophes

Even as countries across the globe grapple with climate change, alternate risk transfer mechanisms like parametric solutions are emerging as the best option. Phoenix CRetro Reinsurance’s Mr Kirill Savrassov and Tenax Capital’s Mr Toby Pughe spoke with Asia Insurance Review. By Anoop Khanna According to a PwC report published in May 2022, the insurance protection gap could reach $1.86tn by 2025 and […]

Cat bonds one of the most prominent innovations in sustainable finance: IMF

According to a staff climate paper published by the International Monetary Fund (IMF), catastrophe bonds are one of “the most prominent innovations in the field of sustainable finance in the last 15 years,” but the organisation believes more use of them is needed to cover burgeoning catastrophe and climate risks. Catastrophe bonds sit alongside green […]

Munich Re: Natural disaster review for first half of 2022

In the first half of 2022, natural disasters caused overall losses of US$ 65bn, with slightly more than half of these insured Extreme multi-day rainfall and severe flooding in Australia constituted the main loss burden for the insurance industry of at least US$ 3.7bn US once again country with highest weather-related losses Number of fatalities […]

China’s parametric catastrophe insurance to expand to Henan Province

Henan Province is the latest in China to announce a pilot program for parametric catastrophe insurance, with an initial focus on extreme rainfall and flood coverage. Henan’s local government said that the pilot will allow the region to adopt the parametric catastrophe insurance, with rainfall related triggers for city and municipality covers, as well as […]

CNN World: Xi Jinping brought Hong Kong to heel. Now he’s back in a city transformed

Hong Kong (CNN). Chinese flags flutter above streets and red celebratory banners line the harbor front, as a beaming crowd of masked officials and school children wave and chant in unison inside Hong Kong’s high-speed rail terminus, welcoming the arrival of Chinese leader Xi Jinping. In his first trip outside mainland China since the start of […]