P&C insurance
Taiwan reinsurance prices stay moderate despite forecasts
Taiwan reinsurance prices stay moderate despite forecasts
The availability of catastrophe capacity remained strong, Gallagher Re said.
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Competition was more intense for excess of loss placements compared to pro rata.
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Accounts that were free of catastrophe losses in 2023 and 2024 saw risk-adjusted rate reductions.
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Loss-free treaties benefitted from notable risk-adjusted reductions, Gallagher Re said.
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Reinsurer quotations were closely aligned with fewer outliers compared to previous years.
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The property catastrophe market saw reduced risk-adjusted pricing.
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It could help the industry ride market trends and mitigate risks.
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The threat of tropical cyclones remains high in northern Australia.
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It includes attracting int’l financial institutions to invest in China's property insurance market.
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However, a recovery is anticipated in 2024.
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The average combined ratio improved to about 91% in 2023 driven by rate increases.
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Direct premiums from long-term products contributed to a 3.7% increase in 2023.
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It’s risk-based capitalisation was supported by increased retained earnings.
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It also plans to establish a regulatory framework for its supervision.