Discipline in a buyers’ market: Howden Re’s view from across Asia-Pacific

Asia-Pacific's reinsurance market is entering a new phase. Capacity remains plentiful, but how it is deployed – and the value it delivers – is becoming increasingly important.

Ahead of the Singapore International Reinsurance Conference (SIRC), five Howden Re leaders share their perspectives with Intelligent Insurer on the changing market dynamics across Taiwan, Korea, Hong Kong, Australia and New Zealand.

From programme optimisation and capital efficiency to emerging risks and alternative solutions, their insights highlight both the opportunities and challenges facing the region.

Jimmy Tsai, Managing Director, Taiwan, points to the growing importance of broader relationships between cedants and reinsurers:

“In a competitive market, the overall relationship is becoming as important as any single treaty, and clients placing only one line may find terms less flexible.”

Doreen Tan, Director, Singapore Retro and Korea P&C, highlights how buyer priorities are evolving:

“The conversation is shifting beyond straightforward premium savings towards programme optimisation, capital efficiency and earnings protection.”

For Hong Kong, Roy Wong, Managing Director, Reinsurance, and Candy Wong, Head of Treaty, see continued opportunities for buyers:

“A growing number of reinsurers are interested in building out their Hong Kong books, putting clients in a strong position to negotiate on both price and terms.”

Richard Pike, Head of Treaty, ANZ, emphasises the importance of maintaining discipline as the market approaches the next phase of the cycle:

“Sensible pricing decisions, with clear supporting rationale, will be important as clients and reinsurers move from a rapidly softening market to one where pricing discipline and equilibrium come to the fore.”

Together, their perspectives show how strong capacity, evolving client priorities and a greater focus on long-term relationships are shaping reinsurance strategies across Asia-Pacific.