Gallagher Re says that reinsurer resilience and strategic opportunities remain available to cedants, against a backdrop of geopolitical uncertainty, softening primary markets and an unpredictable economic outlook.
The International Association of Insurance Supervisors (IAIS) has released two publications, marking the completion of its multi-year cycle of assessing implementation of the supervisory material of the Holistic Framework for systemic risk in the insurance sector.
Specialty MGA, part of the MNK Group, has appointed Mr Uwe Sievers as Director, Business Development Japan. In his new role, he will focus on business development across multiple classes, leveraging MNK's global network and London-based distribution partners to support Japanese clients.
JBA Risk Management, a flood specialist, has updated its Global Flood Model, introducing enhanced hazard maps, a broad range of future climate event sets and improvements to both processing speed and exposure disaggregation.
The General Insurance Association of Japan (GIAJ) is advancing an industry-wide system to assess the quality of insurance agency operations, its Chairman Shinichiro Funabiki has revealed. The objective is to improve insurance sales practices.
Tokio Marine Holdings (TMHD) has entered into a strategic partnership with National Indemnity Company (NICO), a reinsurance unit of Berkshire Hathaway.
Fitch Ratings has assigned Sompo Holdings, a Japanese global insurance and financial services group, a first-time Long-Term Issuer Default Rating (IDR) of 'A+'. The credit ratings agency also assigned an 'AA-' Insurer Financial Strength (IFS) rating to the core subsidiary, Sompo Japan Insurance. The outlook for both ratings is stable.
Howden has announced the expansion of its M&A insurance solutions capability in Asia, with 12 new appointments across Greater China, Japan and Singapore.
London-headquartered independent credit and political risk insurance (CPRI) broker BPL, has opened a new office in Japan.
Nippon Export and Investment Insurance (NEXI) has entered into a reinsurance agreement with Export Finance Australia (EFA), the export credit agency of Australia.