Central Reinsurance Corporation, Taiwan's sole locally incorporated insurer, has posted a whopping 725% increase in net profit in 2023, according to financial statements posted on the reinsurer's website.
The operating performance of Paris-headquartered global reinsurer SCOR SE is assessed as adequate, supported by improved underwriting in 2023 and solid investment activities result over the business cycle, says AM Best.
Gulf Tamin has acquired a stake of 13.85% in reinsurer Arab Insurance Group (ARIG), according to a statement filed by ARIG with Bahrain Bourse.
Indonesia Financial Group (IFG), a state-owned insurance holding company, is collaborating with Indonesia Re to accelerate the standardisation of technical data in the insurance industry through an "Insurance Data Taxonomy Cooperation" agreement.
Africa Re has reported a net income of $129.15m in 2023. The figure is 444.16% higher than the $23.733m chalked up in 2022.
Asia Pacific's contributions to the business of Canopius Group, a leading global specialty and P&C (re)insurer, increased to 10.6% of the total Insurance Contract Written Premium (ICWP) in 2023, one percentage point higher than 2022's 9.6%, according to financial statements released by Canopius.
Premiums generated by (re)insurance companies stood at MAD57bn ($5.7bn) in 2023, up by 4.6% compared to 2022, according to data from the Insurance and Social Welfare Supervisory Authority.
NASCO Insurance Group (Nasco), a leading direct and reinsurance broker in the MENA region and DIOT-SIACI, the European leader in corporate insurance brokerage, have announced a global strategic alliance.
The Economic Committee of the House of Representatives has recommended that a national reinsurance entity be established and that a small panel be formed to discuss the creation of the reinsurer.
Hong Kong-headquartered China Taiping Insurance Group generated premiums of around CNY50bn ($6.95bn) in 2023, representing more than 22% of its total premium income, from the Guangdong-Hong Kong-Macau Greater Bay Area (GBA).