ASIA REINSURANCE BUYERS CONTEND WITH CARRIERS OVER RATE INCREASES

REINSURANCE capacity in most countries in Asia still outstrips demand meaning premium increases in the January 1 renewals did not match exposure increases, according to the latest Guy Carpenter report. Still it said renewals in the Asia-Pacific region were quite late in general as buyers contended with reinsurer expectations of price increases. And in China, it said the snowstorm and earthquake losses of last year prompted carriers to press for more stringent prop rata terms and higher excess of loss rates. But in Taiwan excess of loss rates were down 5%.