Close to 700 delegates from 20 countries have registered for the 14th India Virtual Rendezvous to be held online for the very first time on 20-22 January.
In almost all regions and programmes, reinsurance renewal talks are shaped around discussions on communicable diseases and cyber risk. Exemption clauses related to these have become the norm in reinsurance agreements, according to Ms Gunes Karakoyunlu, Milli Re's domestic reinsurance admissions manager.
The Insurance Authority (IA) has exempted reinsurance providers from rating requirements for a period of one year to ease the pressure on capacity, especially with the COVID-19 pandemic causing more stress.
Howden Group Holdings yesterday announced an investment of $84m in support of Tamesis DUAL, the reinsurance division of DUAL Group, the world's largest international MGA. This additional capacity has been in place since 1 January 2021 and the capital was provided by Howden Group and a third-party investor.
QBE, Australia's largest insurer in terms of premium income, has finalised renewal of the Group's reinsurance programme effective 1 January 2021, the company says in a statement.
The reinsurance market operated in an orderly and efficient manner for January renewals despite record-setting hurricane landfall in the US and uncertainty about the impact of COVID-19 in some lines, says Aon in its January 2021 edition of the "Reinsurance Market Outlook" report.
Ghana Re has a track record of positive operating results, which are considered adequate when the high level of inflation in the company's key markets is taken into account, says AM Best.
The insurance sector in Africa can push for the inclusion of insurance particularly as the African Continental Free Trade Area (AfCFTA) has come into effect since 1 January 2021, according to Mr Ekerete Olawoye Gam-Ikon, a management consultant with a specialisation in strategy and insurance.
The adverse effect of the COVID-19 pandemic on the insurance sector in Africa is expected to delay rather than alter the pattern and potential of future growth. And in some cases, the crisis may accelerate existing trends-notably the shift toward digital and remote channels, which has the potential to offer new opportunities to both insurers and consumers, says global consulting firm McKinsey.
Reinsurers were mostly disciplined and discerning at 1 January 2021 reinsurance renewals, portending similar discipline in the near-term, according to UK headquartered international insurance broker Howden.