Nigerian insurance companies will be affected by the ongoing Middle East hostilities in their next reinsurance renewal period, National Insurance Commission (NAICOM) head Mr Ayo Olusegun Omosehin, has said.
Aon has appointed Mr Tom Langley-Poole and Mr Uday Tank as brokers in the Reinsurance Solutions Credit and Financial Risks team.
Effective 1 April, Marsh has appointed Mr Nick Studer as President and CEO of Marsh Risk, and Mr Martin South as Chief Client Officer of Marsh. Both will serve on the company's Executive Committee.
The insurance industry in Pakistan is holding consultations to reassess underwriting policies, review reinsurance arrangements and ensure insurers maintain adequate solvency levels, according to Mr Mohammad Raza, Non-Life Committee and Property Committee member of the Insurance Association of Pakistan (IAP).
Insurance-linked securities (ILS) capacity continues to reach record levels, according to the latest report by AM Best. The ILS market has grown from niche to established with returning sponsors/cedants. Investors' understanding and confidence in the market has grown.
The Insurance Regulatory and Development Authority (IRDAI) has granted approval for Allianz Jio Reinsurance, which will now be the second private reinsurer in the Indian market.
CAT bonds are fundamentally largely insulated from geopolitical events such as current developments in the Middle East, according to Icosa Investments, a Swiss company engaged in alternative fixed income strategies, including catastrophe bonds.
The facultative reinsurance market is likely to be significantly affected by the ongoing Middle East armed conflict, according to Mr Gamal Sakr, Regional Director, Cairo Regional Office for Northeast Africa & Middle East - African Reinsurance Corporation (Africa Re).