Kuwait Reinsurance Company has reported a net profit of KWD3.09m ($10m) for the first six months of this year, an increase of 7% as compared to net gains of KWD2.87m in the corresponding period last year.
Korean Re has announced that it will launch co-reinsurance business with the Carlyle Group, becoming the first such providers in a market estimated to grow up to KRW100tn ($84bn) over the next few years.
The six reinsurance companies in Indonesia have been urged to increase their capacity, so as to promote the domestic insurance and reinsurance ecosystem and quality of business.
Swiss Re reported a net loss of $1.1bn for the first half of 2020 after booking claims and reserves related to COVID-19 of $2.5bn. Excluding the impact of COVID-19 losses, net income amounted to $865m for the period, reflecting a strong underlying business performance across the group.
International reinsurance companies are expected to raise their premiums by 10% to 20% in the forthcoming period for some classes of insurance, due to the COVID-19 crisis, according to a senior insurance industry executive.
Swiss Re has announced several changes to roles within its Asia management team effective September 2020.
Guy carpenter has announced the appointment of Mr Andrea Piatti as Global Risk Solutions managing director, effective 3 August.
The Singapore Reinsurers' Association (SRA) has announced the line-up for its Executive Committee (EXCO) for the 2020-2021 term.
Eleven reinsurance companies and insurers have formed a pool to support insurers covering Belt & Road projects.
The unprecedented COVID-19 pandemic and the consequent economic downturn has caused PartnerRe to incur $338m in pre-tax losses, net of retrocession and reinstatement premiums, in the first half of 2020.