The insurance industry stabilised in 2023 following muted natural catastrophe events and the positive effects of strategic initiatives implemented by insurers over the last few years to moderate risk exposures, such as premium rate increases and underwriting limitations, according to KPMG South Africa.
Reinsurance capital is at its peak now with sufficient capital to cover the 2025 and beyond; yet, addressing the protection gap could be via the use of non-traditional reinsurance tools, said Guy Carpenter president, global accounts Charles Whitmore.
Members of the Association of Insurers and Reinsurers of Developing Countries are meeting at the 23rd AIRDC International Conference in Thailand, the first time that the southeast Asian country is hosting the event (AIRDC 2024).
CCR Re has appointed Ms Vaibhavi Mehta as director of underwriting (life). She has over 17 years of experience in reinsurance and consultancy.
London-headquartered MNK Group has launched Mekong Re, a reinsurance company with a strong suit in niche and specialty solutions, in Labuan, Malaysia.
Mumbai-headquartered Mahindra Insurance Brokers, part of the Mahindra Group, has announced the opening of its reinsurance office at Dubai International Financial Centre (DIFC), according to a statement posted on the DIFC website.
Although Managing General Agents (MGAs) are in their infancy in China, they are gaining ground in key financial centres in the country such as Beijing, Shanghai and Shenzhen, according to Global Insurance Law Connect (GILC), a network of specialist insurance law firms.
While Managing General Agents (MGAs) are being recognised as a useful innovation tool in less developed insurance markets, they are currently not eligible to operate in India, according to Global Insurance Law Connect (GILC), the network of specialist insurance law firms.
Aon has appointed Mr Paul Schultz as global vice chair of reinsurance solutions and Mr Richard Pennay as CEO of Aon Securities.