Reinsurance placements at 1 January 2019 in Asia show that pricing competition remains robust across the region, according to Willis Re in its 1st View renewals report.

Loss-free programmes are seeing risk-adjusted pricing between -2.5% and -10%. A number of programmes are showing slip premium reductions, says the report.

Other developments in Asia highlighted in the report include:

• There is no shortage in excess of loss capacity, even for programmes that are priced below indicatedmodeled technical prices.
• Proportional pricing is firmer across the region, with the exception of China, where commission increases have been sought and achieved in a number of high profile placements.
• Catastrophe event limits now range from 1 x risk limit / treaty capacity to up to 5/6 x risk limit / treaty capacity, depending on territory. The average event limits fall around 2.5 x risk limit / treaty capacity.
• Major reinsurers continuie to display segmentation discipline across their client base.