Reinsurers in South Africa saw a mixed bag of performance in terms of loss ratios in 2020, with some reinsurers showing improved loss ratio results and other reinsurers showing declining loss ratios, says the international professional services firm KPMG.
The 2021-22 edition of ReMark's global consumer study on life insurance consumers, ReConnect Life, looks at the issues the life insurance consumers care about, such as COVID-19, technology and mental health.
The digital Property and Casualty (P&C) personal lines market could reach a cumulative $7.5bn in premiums over the next five years in South and Southeast Asia, according to research by Swiss Re Institute.
Hannover Re is committing to achieve net zero emissions in business operations by 2030 and in its reinsurance portfolio and investments by 2050. In setting these targets Hannover Re supports the Paris Agreement on climate change aimed at limiting global warming to 1.5 degrees Celsius.
Reinsurance renewals in 2021 focused on heightened consciousness of the risk of infectious diseases, mainly due to the COVID-19 situation, and the underwriting conditions for silent cyber risks, says the Non-Life Planning Department of The Toa Reinsurance Company.
China Reinsurance (Group) Corporation has announced that it has increased the capital of its UK subsidiary by GBP95m ($129m) from GBP300,000 previously.
The National Reinsurance Corporation of the Philippines (Nat Re), the country's national reinsurer, was recently recognised by the country's Institute of Corporate Directors (ICD) with two Golden Arrows for its good corporate governance practices, based on the Association of South East Asian Nations (ASEAN) Corporate Governance Scorecard (ACGS).
Despite earlier announced plans to hold the rescheduled 17th Singapore International Reinsurance Conference (SIRC) as a hybrid event, the organiser, Singapore Reinsurers' Association (SRA), has decided to run the event in virtual format for a second year.
Increasing economic volatility and elevated competition have led to a gradual deterioration in the performance of the reinsurance market in sub-Saharan Africa (SSA), says AM Best.
Overall premiums and assumed life insurance in-force of global reinsurer RGA have increased in each of the past five years, primarily driven by growth in all geographic areas of its traditional reinsurance segment, and particularly in Asia, notes AM Best.