The facility, managed by Alliance Risk Transfer and backed by five founding insurance partners, seeks to help Hong Kong address shifting global marine war risk exposures.
(Re)insurers need to combine their strengths, use better data, and shift beyond traditional protection roles to focus on anticipating and preventing risks, says Swiss Re’s Victor Kuk.
Losses from hotels, retailers and vehicle dealers already exceed billions of rupees, raising concerns over insurers’ capital strength and Nepal Re’s capacity to absorb claims.
Violent demonstrations in Kathmandu caused extensive damage to businesses and institutions, with reinsurance, primarily through Nepal Re, expected to cover the majority of industry losses.
