Reinsurance placements and renewals for 2020 have been completed without any major problem for the insurance industry, according to industry sources.
The Zimbabwe reinsurance industry may fail to underwrite external business due to the Reserve Bank of Zimbabwe (RBZ)'s failure to settle foreign obligations in excess of $10m in retrocession premiums.
Many Australian insurers appear positioned to absorb losses from the recent bushfires, but the fires could affect earnings and reinsurance renewals, says Mr Alex Rafferty, AM Best associate director of analytics.
Arch Reinsurance, a wholly owned subsidiary of Arch Capital Group, has announced that it has entered into an agreement in principle to obtain a majority stake in Precision Marketing Asia Pacific (PMAP), subject to regulatory and other approvals.
Kuwait Reinsurance has reported a surge of 40% in net profit to KWD4.73m ($15.5m) for the year 2019, as compared to the previous year, according to a statement issued by the company.
The social responsibility undertaken by China Re Group (A/Stable/--) is seen as supportive of its government-related entity status, says S&P Global Ratings.
Environmental risk is seen as an important consideration in S&P Global Ratings' credit analysis of the Toa Reinsurance group. Toa Re group's key risk is catastrophe risk and its exposure is somewhat concentrated on Japan, typically typhoons, notes S&P Global Ratings analyst Koshiro Emura.
B3i Services, a two-year-old company owned by members of the insurance industry, says that 30 contracts of reinsurance have been concluded on its platform, including some of the world's most complex Catastrophe Excess of Loss (XoL) reinsurance treaties.
Forecasting for the year ahead is never easy, but Nat Re president and CEO Allan Santos seems quite sanguine about the prospects facing the national reinsurer.
Trust International Insurance and Reinsurance Company (Trust Re), the largest reinsurer in the Middle East, has become an international partner of Bahrain FinTech Bay, a FinTech hub in the region.