Property risk excess of loss pricing has become very competitive in the South African market with quoted prices reducing on average by a risk-adjusted -7%, during the 1 July renewal season, according to broker Gallagher Re.
The creation of a public reinsurer in Cameroon is expected to be a reality soon, facilitated by a law on mandatory cessions.
Proportional treaties continued to dominate the property reinsurance market in the Middle East during the 1 July renewal season, according to broker Gallagher Re.
Lloyd's of London will set up a regional office in Nairobi in an agreement signed in London with the Nairobi International Financial Centre Authority.
Gallagher Re has appointed Mr Pablo Muñoz as CEO of global facultative reinsurance. In this newly created role, he becomes a member of the Reinsurance Global Executive Committee and will collaborate closely with Gallagher Re's leadership team to enhance the firm's facultative capabilities and broaden its client reach.
The plan by the Tasmanian Liberals to establish a state-owned insurance company would put significant financial risk onto the public balance sheet according to Insurance Council of Australia (ICA).
Howden Re has launched its Hong Kong focussed reinsurance broking platform with the appointment of Mr Roy Wong as managing director, reinsurance, effective 21 July 2025.
Saudi Reinsurance Company (Saudi Re) has signed a contract with The Company for Cooperative Insurance (Tawuniya), to reinsure the compulsory Inherent Defects Insurance (IDI) pool.
The Dubai International Financial Centre (DIFC) has announced that Advantage Reinsurance Management, a managing general agent, has joined the growing community at the financial hub.