China Taiping Insurance Group's reinsurance business saw net profits fall by more than a fifth (-22.8%) to HK$333.04m ($42.6m) in 2023, according to financial statements presented by the company.
Saudi Re has posted net profits of SAR124.4m ($33.2m) for 2023, compared to SAR76m for 2022, according to annual financial statements filed by the reinsurer with Tadawul. The increase was 64% or SAR 48m higher than the 2022 net profit.
Compagnie Commune de RĂ©assurance des Etats Membres de la CIMA (CICA-RE) -- Common Reinsurance Company of CIMA Member States --has a track record of adequate operating performance, says AM Best.
Saudi Reinsurance Company (Saudi Re) has announced that its board of directors has appointed Mr Ahmed Ali Al-Jabr as the acting CEO of the company, effective 1 April 2024.
Tokio Marine Holdings, through its subsidiary Tokio Marine & Nichido Fire Insurance (TMNF), has sponsored the issuance of a new catastrophe bond called "Kizuna Re III Series 2024-1 Class A Principal At-Risk Notes (Kizuna Re III CAT bonds).
Australian managing general agent (MGA) Agile Underwriting Services has received 'in-principle' approval from Lloyd's to create Agile Syndicate 2427 (AUS 2427).
The Office of the Insurance Commission (OIC) plans to hold meetings with top insurance executives at least three times a year or once every four months to follow up on industry issues, according to the regulatory agency's secretary-general, Mr Chuchat Pramunphon.
Central Reinsurance Corporation, Taiwan's sole locally incorporated insurer, has posted a whopping 725% increase in net profit in 2023, according to financial statements posted on the reinsurer's website.
The operating performance of Paris-headquartered global reinsurer SCOR SE is assessed as adequate, supported by improved underwriting in 2023 and solid investment activities result over the business cycle, says AM Best.
Gulf Tamin has acquired a stake of 13.85% in reinsurer Arab Insurance Group (ARIG), according to a statement filed by ARIG with Bahrain Bourse.