富通保险 深入研究使用Pools为脆弱地区提供财产灾难保护.pdf

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1、SINGAPORE ACTUARIAL CONFERENCE 202426-29 August 2024Avoid filling this space with text,will not be seen by audienceTo Pool or Not to Pool?A Dive into the use of Pools to provide Property Natural Hazards protection to vulnerable areasOverview of APAC PoolsCREIP,2015(CCIP 2024)Perils:EQ(2015),All natu

2、ral hazards(2024)GWP:$?TCIP,1999Perils:EQ+RelatedGWP:$142m Sri Lanka NNDIS,2016Perils:All natural hazardsGWP:$1m SEADRIF,2019Perils:Flood so farGWP:$5m Maipark,2003Perils:EQ+RelatedGWP:$21m Japan Residential EQ,1966Perils:EQ+RelatedGWP:$2.26bnTaiwan Residential EQ,2001Perils:EQ+RelatedGWP:$142m ARPC

3、 Cyclone Pool,2022Perils:TC+flood followingGWP:$623m PCRIC,2016Perils:TC,EQ,Tsunami,XS rainfall,DroughtsGWP:$1m NZ NHC,1944(2023 current format)Perils:War,EQ+Related(1944),All Hazards excl War(2023)GWP:$462m All GWP shown in USDPool Proliferation Why is it Happening?1.Increased levels of Nat Cat eco

4、nomic losses Expansion of residential dwellings into vulnerable areas leading to losses from natural hazards.Climate change potentially resulting in larger/more frequent natural catastrophes.2.Increased Public Sector Appetite to Participate in Natural Hazards Protection Governments and global public

5、 sector organisations increasingly aware of importance of insurance affordability and penetration.Insurance is no longer solely provided by private sector.Media effectively highlighting impact of catastrophes:becoming a relevant political topic.3.Increased pricing granularity in de-tariffed markets

6、Stratification Unaffordable premiums in high-risk areas.Insurance is based on principle of pooling yet“pricing progress”smaller risk buckets less pooling!Insurers have no incentive to cross-subsidise risk,so governments step in to ensure“fairness”.SINGAPORE ACTUARIAL CONFERENCE 202426-29 August 2024