The 15th China Rendezvous marked its notable return after a three-year hiatus when it was held in Beijing on 1 December. This year's theme, "Embracing the New Era of Excellence - The Future Map for Insurance", highlights the potential of China's insurance industry, the world's second-largest insurance market.
Moody's Investors Service yesterday changed to 'Negative" from 'Stable' the outlooks on nine Chinese insurers and a related overseas subsidiary, following Moody's affirmation of the Government of China's issuer rating at 'A1' and change in the outlook to 'Negative' from 'Stable' on 5 December.
Mongolian National Reinsurance (Mongolian Re) projects that it would reduce its expense ratio gradually while expanding its premium scale and improving its operating efficiency over the short to intermediate term, according to AM Best.
The surge in inflation influenced much of 2022, resulting in a tightening of monetary policy - and in turn - capital market volatility and a depreciation of currencies in some emerging markets, according to a recent report by Malaysian Re.
Malaysian Reinsurance remains focused on gradually expanding its overseas business while reducing dependence on local business for growth, says Fitch Ratings. The share of overseas business grew to 52% of gross premiums in the financial year ended 31 March 2023 [FY2023] (FY2022: 48%), overtaking the domestic share for the first time.
African Reinsurance Corporation's performance in 2023 and prospectively is expected to be in line with the trend in recent years, supported by strict underwriting, though adverse foreign currency movements are expected to weigh negatively on overall earnings, says AM Best.
The market segment outlook for the global reinsurance segment remains 'Stable', says AM Best, citing substantial rate improvement, primarily in property lines, with higher average attachment points expected to result in widening profit margins.
The 15th China Rendezvous marked its notable return after a three-year hiatus when it was held in Beijing on 1 December. This year's theme, "Embracing the New Era of Excellence -- The Future Map for Insurance", highlights the potential of China's insurance industry, the world's second-largest insurance market.
Swiss Re has announced new IFRS targets, including a net income of more than $3.6bn for 2024 and a multi-year ROE of more than 14%.
Oman Re, the sole reinsurer in the Sultanate of Oman, says that it recorded a 35% surge in net profit after tax, reaching OMR1.8m ($4.7m) as opposed to OMR1.3m during the first nine months of 2022.