From crisis management to risk management: finding a new normal

There were sober and disciplined renewals in Asia-Pacific despite chaotic world events. After continually fighting fires since the COVID-19 pandemic hit, however, the key question may be how the market will respond to a period of calm.

The April 1 renewals across Asia-Pacific were “disciplined and orderly”, according to George Attard, Aon’s CEO for reinsurance solutions in the region. But they took place in a disordered world. 

As the deadline approached in mid-March, a 7.4 magnitude earthquake struck off the coast of Fukushima in north east Japan, leaving four dead and reviving memories of the 2011 tragedy. That followed less than a month after Russia’s invasion of Ukraine. 

To discuss the impact of these and other issues on the recent renewals, Intelligent Insurer was joined by Attard along with a range of other experts on the region: Deepika Mathur, CEO of Markel India; Robert Mazzuoli, head of EMEA reinsurance at Fitch Ratings; Mark Morley, managing director for the region at Gallagher Re; and Javier Sánchez Cea, Asia Pacific chief regional officer at Mapfre Re.