Insurance research institute told a Seoul workshop that correlated shocks from both perils need dispersing through reinsurance, capital markets, and a defined public-private framework.
Estimates from across the broker and ILS market point the same way, with losses expected to fall short of the quakes that struck the same prefecture a decade ago.
Agency affirmed European, UK, Bermudian, and North American subsidiaries, citing portfolio management across group's commercial lines book and favourable reserve development in recent years.
