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.
Regional losses of US$8.7bn in H1 came in at about a quarter of the 10-year average, but the reinsurer says strengthening El Niño conditions leave Japan, Korea, Greater China and Australia exposed through...
