Howden Re’s Jimmy Tsai, Managing Director for Taiwan, discussed current trends in the property reinsurance market with The Insurer TV. According to Tsai, market conditions across Asia are becoming softer, a pattern also seen in Europe and the United States. However, he said that Taiwan has maintained discipline in its approach, which continues to attract significant capacity and interest from reinsurers.
Tsai explained that programmes without recent losses are benefiting most from the influx of new capacity. In contrast, those with recent losses face more scrutiny. He noted that some programmes have become oversubscribed by more than 100%, resulting in strong competition among reinsurers.
He pointed out that Taiwan’s high-quality data and transparency make it an appealing market for international reinsurers. While clients are seeking reductions in pricing, Tsai emphasized the importance of maintaining discipline and relying on data-driven decisions to ensure sustainable outcomes.
Tsai also addressed how secondary perils such as urban flooding are gaining attention from reinsurers. Despite this shift, local perceptions of risk continue to focus on traditional threats like typhoons and earthquakes.
“The balance of power is gradually shifting from reinsurers to cedents,” Tsai said, “as more capacity returns to the market and competition intensifies across Asia.”