Oman Reinsurance Company (Oman Re) has generated a good financial performance, as reflected in net income return on equity of 8.4% in 2023 (2022: 7.5%), says Fitch Ratings.
MS Reinsurance has appointed Mr Miguel Marin as head of data. In his new role, he will be responsible for managing the cloud-native data and analytics platform and will advance key data strategies.
White Bear Group has appointed Mr John Symms as group head of capital solutions, a newly created role. In his new role, he will source and develop (re)insurance support for White Bear's MGA lines and will coordinate reinsurance at Blenheim Underwriting, a company owned by White Bear Group.
Global credit rating agency AM Best says that it expects Vietnam National Reinsurance Corporation (VINARE) to continue delivering strong operating performance, supported by favourable underwriting performance and robust investment income.
The Hong Kong insurance industry posted a 12.2% increase in total gross premiums to HK$165.1bn ($21.1bn) in the first quarter of 2024, according to provisional statistics released by the Insurance Authority (IA).
Howden Re has appointed Mr David Hearn as chairman, global clients strategy. In his new role, he will support leadership and client service teams across the spectrum of risk and strategic advisory. This will include advising large, multi-product insurance companies with international presence and complex coverage needs.
Tunis Re, the locally-incorporated reinsurer with a leading position in the Tunisian reinsurance market, is working on adopting and developing technology, including a massive data management project, according to Ms Lamia Ben Mahmoud, CEO of the reinsurer.
Hong Kong-based reinsurer, FuSure Reinsurance Company, whose ultimate parent is Chinese Internet giant Tencent Holdings, targets double-digit gross premium written growth, but is expected to maintain a low single-digit return on equity over the period 2024-2027, notes AM Best.
Property-catastrophe reinsurance market pricing at 1 June 2024 has moderated, after notable rate increases in 2022 and 2023, observes Howden Re, the reinsurance and strategic advisory arm of Howden.
Private equity-backed reinsurers' appetite for Asian life insurance assets is unlikely to be sated any time soon, as there are $2tn of assets/liabilities under management that are currently providing sub-par capital returns, says Guy Carpenter, the largest life reinsurance adviser in the Asia-Pacific region.