Top reinsurers’ exposure to Wuhan coronavirus, Asia pandemic analysed
With official numbers of the Wuhan coronavirus currently standing at 585 confirmed infected and 17 dead, Morgan Stanley analysts have detailed the extent to which the top four global reinsurers are exposed to pandemic risk in Asia. As of 2018, Munich Re wrote €2.3 billion in premiums in Asia via its Life and Health (L&H) Re division; roughly 5% of the group’s gross written premium (GWP). In its Solvency and Financial Condition Report (SFCR), the group stated that it sees the highest accumulation in pandemic risk while, in the L&H Re division, Asian premium is split 40% Mortality and 60% morbidity. SCOR underwrites €1.2 billion through its L&H division in Asia; around 7% of group GWP.
Reinsurance News, 22 January