Reinsurance premiums have been raised due to the increasing natural disasters all over the world, which include the 6 February Kahramanmaras earthquake in Turkiye, according to Mapfre Sigorta general manager Mr Erdinç Yurtseven. The increases will also be reflected in policy premiums in 2024.
Abu Dhabi will be hosting the 28th Conference and General Assembly of the Federation of Afro-Asian Insurance and Reinsurance (FAIR) from 19 to 22 November 2023. This will be the first time that FAIR is staging the conference in the UAE.
The declining creditworthiness of many African debt issuers has led to increased asset risk and will test the resilience of the continent's reinsurers' balance sheets, according to a new AM Best report.
The prospective underwriting performance of National Reinsurance Corporation of the Philippines (Nat Re) is expected to be supported by ongoing portfolio remediation measures, including reduced participation and/or exiting from unprofitable non-life treaties, says AM Best.
The implementation of the first Egyptian actuarial tables for life insurance will commence soon, which will contribute to supporting life insurance business and promoting the fair pricing of products, Dr Mohamed Farid, chairman of the Financial Regulatory Authority (FRA) has said.
Prospects for the MENA reinsurance market may arise from growing product offerings in primary markets, namely in cyber and liability lines of business, according to a new AM Best report.
Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, continues to steer the city's position as a global hub for the insurance and reinsurance industry.
In the April renewals in Japan, cedants generally secured the reinsurance capacity they required, says The Toa Reinsurance Company in its latest annual report on Japan's insurance and reinsurance markets released earlier this month.
The Australian Consumers Insurance Lobby (ACIL) has said that the Cyclone and Cyclone-Related Flood Reinsurance Pool needs improvement.
Africa's insurance market pays out $6-8bn annually to western insurance entities mainly through brokerage and reinsurance services, according to the former secretary-general of the Africa Insurance Organisation (AIO), Ms Prisca Soares.