Fitch revises outlooks on 6 insurers to 'Negative' after sovereign rating action

...Reinsurance Company is not considered for this rating action because its IFS rating of 'A/Stable' reflects its standalone credit quality without any uplift provided....

India: Emergence and growth of insurance lines will require additional capacity

...reinsurance protection, across all lines of business....

Turkiye: Appeal made again for motor pricing liberalisation

...reinsurance spiral....

Oman: Call for action amidst flood carnage

...reinsurance, says Mr Murtadha M J Ibrahim al Jamalani, chairman of the Finance & Insurance Committee – Oman Chamber of Commerce and Industry (OCCI)....

Australia: Imminent El Nina phase expected to cause major rain events on the east coast

...The El Nino phase is weakening after a peak in November 2023, says global reinsurance broker Gallagher Re in its " Australian Autumn Climate Outlook" report....

India: GST Council discusses exempting reinsurance from GST

...reinsurance is not a supply of service and thus would not be subject to an 18% GST. Many leading insurance comp...

Taiwan: 3 April quake results so far in claims totalling at least US$23.5m

...reinsurance programme has been loss-free since its establishment in 2002. However, the extent of...

Appetite to write political violence risks is decreasing

...Reinsurance capacity and the general appetite to underwrite political violence risks is reducing as insured losses from civil unrest grow according to a new report by Allianz Commercial....

Africa: Reinsurers rise to challenge of inflation and evolving risk trends

...reinsurance market outlook, stakeholders need to acknowledge the subtle differences that exist between the exposures they may encounter in Africa versus those in Asia-Pacific, Europe, and North Ameri...

Egypt: Mid-tier insurer's operating performance seen as adequate despite high expense ratio

...reinsurance, evident by a premium retention ratio of 41.3% in fiscal year 2023. However, the associated counterparty credit risk is mitigated partially by the use of a financially strong reinsurance...

India: Aon appoints new CEO of reinsurance solutions

...reinsurance analytics team in 2010, before leading its APAC agriculture practice and client management function across several large regional and Singapore-based accounts...

Indonesia: 3rd biggest general insurer posts strong operating results

...reinsurance companies not rated on an international FSR scale....

APAC: Guy Carpenter appoints new managing director

...reinsurance market for his 30-year career and has held senior financial, credit and specialty roles at major reinsurance firms including Swiss Re and Asia Capital Reinsurance Group....

Wotton + Kearney sets sights on Singapore global insurance hub

...reinsurance markets and gives Wotton + Kearney a platform to service the infrastructure, power gen and renewable energy growth across the region when the Singapore office opens in June, the law firm...

Taiwan: 3 April 'quake insurance claims unlikely to exceed losses chalked up in 2016 tremblor

...reinsurance market....

India: GIC Re aims to expand international business portfolio

...GIC Re, India's only locally incorporated reinsurer, plans to increase the proportion of its international business to diversify its revenue sources....

Global: Active Re participates in ICISA meeting

...reinsurance company with a global presence and a full-fledged member of ICISA, participated in the meeting to discuss topics important to the industry....

Cyber insurance: Risks and trends 2024

...reinsurance Thomas Blunck said, “There is still too high a proportion of uninsured cyber risks. According to our current global cyber survey, 87% of managers surveyed state that their company i...

South Africa: General insurance market to exceed US$10bn by 2028

...reinsurance rates. This will increase the premium rates of home and construction insurance policies, which will support property insurance growth.”...

Vietnam: Biggest non-life insurer shows robust operating results

...reinsurance dependence to support the underwriting of large commercial property, engineering and energy risks....

Reinsurance: Howden Tiger to become Howden Re

...reinsurance broker....

Indonesia: OJK says it would do more to have sukuk covered by takaful

...Reinsurance Companies”. His response...

GCC: Revenue of 76 listed insurers rises by 19% to US$32.2bn in FY2023

...Reinsurance Co’s (QGRI) financial results draw attention in Qatar, as the insur...

AXA group completes acquisition of XL Re China

...reinsurance solutions to clients in the Chinese market....

New China Insurance posts flat GWP and plunge in net profits in 2023

Zhongyuan makes underwriting gains through disaster prevention and loss reduction efforts

...reinsurance arrangements. The expense ratio improved to 15.6% in 2023, from 19.9% in 2022, on better economies of scale and cost control....

PICC Group's net profit falls on lower investment returns

China Re sees massive rebound in financial performance in 2023

China: Robust reinsurance market despite economic slowdown

...reinsurance market is largely driven by domestic underwriting performance, and less by global market cycles. Despite a downturn in the property market and a slowdown in economic growth, China’s...

India: Aon completes acquisition of local broker

...reinsurance markets, which combined with Aon's talent consulting business, creates an integrated team of over 1,100 colleagues across Aon in India. Following the finalisation of the merger proces...

Japan: 2 major non-life insurers issue CAT bonds

...reinsurance and CAT bonds, the MS&AD Insurance Group Holdings says that the group will continue to strengthen risk management and improve the soundness of management while promoting initiatives t...

Global: French reinsurer delivers buoyant financial performance

...Paris-headquartered international reinsurer, CCR Re, has reported an EBITAER (Earnings Before Interest, Taxes, Amortisation and Equalisation Reserve) of EUR88m ($95.4m) and a net income of EUR56m for 2023, higher than the EUR64m and EUR4m posted for 2022 respectively....

South Korea: Predictable 1 April renewals in stable reinsurance market

...Reinsurance Market Dynamics April 2024” report released on 2 April, Aon says that 1 April represents the second largest renewal for Korea’s insurers,...

Turkiye: Insurance association head presents industry report card and wishlist

...reinsurance costs....

Vietnam: Hanoi Re presents favourable underwriting results in 2023

...The operating performance of Hanoi Reinsurance Joint Stock Corporation (Hanoi Re) is assessed as strong, supported by its five-year average return-on-equity ratio of 16.6% (2019-2023), says AM Best....

India: Increased reinsurance capacity seen during 1 April renewal

...reinsurance capacity increased materially as favourable reinsurance results and shifting economic factors provided tailwinds. This has led to dedicated reinsurance capital bouncing back in 2023 and s...

Asia: 1 April property reinsurance market softens somewhat

...;Reinsurance Market Dynamics April 2024” report, Mr Attard says that the renewals signalled a further improvement in conditions and set the stage for a more comprehensible reinsurance market at...

Saudi Arabia: MedGulf's net financial results improve in 2023, more work needed to raise solvency ratio

...Reinsurance Co...

Indonesia: 32 out of 42 Shariah insurance units to be spun off into takaful companies

...Reinsurance Companies” stipulates a deadline of 31 December 2026 for the spinning-off to be completed....

UAE: Insurance market grows at nearly 13% to US$14.5bn in 2023

Malaysia: Life Insurance Association appoints new leadership

...Reinsurance Group Ms Vibha Coburn, CEO of Manulife Insurance Mr Lim Eng Seong, CEO of Prudential Assurance Malaysia...

Taiwan: Nanshan General Insurance shows recovery in 2023 financial performance

...reinsurance commission income....

Indonesia: Marein improves underwriting results

...reinsurance business, while its credit life insurance comprised around 10% of its total life reinsurance business in 2023....

UAE: Credit loss provision contributes to SALAMA's red ink in 2023

...reinsurance was not recovered fully....

UAE: Credit loss provision contributes to SALAMA's red ink in 2023

...reinsurance was not recovered fully....

Malaysia: Underwriting results of general insurers fall despite higher GWP in 2023

...reinsurance costs which will continue to exert pressure on underwriting margins....

Kuwait Insurance's sharp drop in profit in 2023 attributed to accounting rule

Algeria: Updated 2023 insurance stats show retakaful figures for the first time

...Reinsurance...

Hong Kong: Peak Re posts record net profits in 2023

...reinsurance revenue of $1,556m (2022: $1,822m)....

Insured losses from Baltimore bridge accident to only dent insurers' earnings: S&P

...reinsurance sector. We expect all the clubs and reinsurers involved to be able to manage their losses with no impact on ratings at this stage."...