Reinsurance renewals 2024 - what happened at 1/1 and what to expect in April

We talk to Tony Gallagher CEO, Asia Pacific region for Guy Carpenter about the 1/1 renewals and what to expect at the April renewals, emerging risk in 2024 and which business lines have the most scope in the year ahead. 

Beginning of a new era-impact of global issues in (re)insurance

The global nature of the reinsurance industry has enabled the diversification of risk away from concentration in specific regions to the larger global market.

However, record catastrophe losses, inflation stemming from increased interest rates, geopolitical tensions and heightened climate risk are putting operating pressures on insurers and reinsurers. The increasing frequency of higher- magnitude natural disasters against the backdrop of a bearish market with rising interest rates sets up a perfect storm for reinsurers to harden their pricing to reflect a more prudent risk appetite.

Guy Carpenter Shaping the Future Series - The Evolving Market

In the next video of the series, we talk to Guy Carpenter Head of Structured Solutions, Asia Pacific Hussain Ahmad, and Partner with OIiver Wyman Jing Wei Jia about market trends and developments, business planning for insurers, the evolving market and optimising capital.

Optimizing capital in volatile times: How reinsurance enables strategic risk management

Macroeconomic Environment
The investment environment is currently in turmoil. High inflation in many countries, driven by both supply-side and demand-side factors, has compelled central banks to raise interest rates in response. Interest rate hikes then flow directly into asset valuations. Additionally, recessionary expectations, the banking crisis and geopolitical issues are currently creating havoc in asset markets.

A look ahead into 2023

The next video in the series looks head at Guy Carpenter’s plans for the year 2023.

We talk to Guy Carpenter CEO, Asia Pacific Tony Gallagher about the company’s plans for 2023, Asian markets to look out for, as well as potential risks.

Guy Carpenter Shaping the Future Series - Inflation

The next video in the series looks at the general impact of inflation - and how inflation is panning out in Asia Pacific. We talk to Guy Carpenter vice president, strategic advisory Asia Pacific Philip Doyle about how insurers should respond to inflation right now.

Natural Catastrophe Protection Gap in Asia Calls for Collaborative Innovation

The insurance protection gap is generally defined as the difference between total and insured loss costs. Globally, 2021 total losses from natural disasters were estimated to equal approximately USD 280 billion, of which approximately USD 120 billion, or 43%, were covered by (re)insurance.(1) This gap was smaller than many previous years because a higher proportion of losses occurred in the US, which has one of the most developed insurance markets in the world, with high penetration.

Managing 'Secondary' Perils in Asia Pacific Region

Secondary perils represent a complex and nuanced challenge for the (re) insurance industry. In essence, these natural perils are “known, unknowns.” They are known to pose a risk, but our industry does not always have a full understanding of their potential impacts.

ESG in Australia and the opportunities/ challenges this brings for the insurance industry

The next video in the series looks at how ESG is playing out in Australia and the opportunities and challenges that this will bring to the insurance industry.

Secondary perils and the protection gap

The next video in the series looks at defining secondary perils, insuring against them, the importance of modelling – and the role of reinsurance in closing the protection gap.

Global systemic risks, climate risk, net zero planning and risk as it relates to ESG

The next video in the series looks at global systemic risks, climate risk, net zero planning and risk as it relates to ESG.

We talk to four leading risk-industry professionals - Mercer president of Asia, Middle East and Africa Renee McGowan, Guy Carpenter CEO of Asia Pacific Tony Gallagher, Oliver Wyman partner – head of APR public policy Jacob Hook and Marsh Asia head David Jacob.

Latest cyber events, their impacts and possible solutions

The next video in the series looks at the impact of recent cyber events in Asia.

Guy Carpenter managing director, cyber centre of excellence leader Siobhan O'Brien talks to Asia Insurance Review about what insurers can do to mitigate the impact of these cyber events.

Shaping the future series of videos with Guy Carpenter

The next video in the series looks at the impacts of recent economic and regulatory changes on life and health insurance in Asia Pacific.

Shaping the future series of videos with Guy Carpenter

The next video in the series looks at the changing nature of risk management.

 China Pacific Property Insurance Company chief actuary Chen Sen talks to Asia Insurance Review about why risk management is changing and what part technology plays in this – and how corporates can prepare for the change.

Shaping the future series of videos with Guy Carpenter

The first video in the series looks at the changing nature of risk.