Hannover Re has appointed Mr Clemens Jungsthöfel as CEO and Dr Christian Hermelingmeier as CFO, both effective 1 April 2025.
The Moroccan insurance sector has generated a net profit of MAD3.1bn ($312.5m) in the first half of 2024, 3% higher compared to the corresponding half in 2023, according to data from the Insurance and Social Welfare Supervisory Authority (ACAPS). This performance was due to improved technical results.
The Australian Prudential Regulation Authority (APRA) is studying ways to promote general insurers' access to reinsurance, including alternative reinsurance arrangements.
Reinsurance: SCOR's P&C profitability restored; L&H earnings under pressure Global reinsurer SCOR's P&C results are to remain strong in 2024 and 2025, says Fitch Ratings. However, the L&H results are expected to be negative in 2024, but to recover in 2025.
The insurance industry in Singapore is in a prime position to reshape how graduates perceive career opportunities within the sector, according to new research commissioned by Canopius Group (Canopius), an international specialty and P&C (re)insurer.
Kuwait Re has posted a 29% year on year increase in net profits after zakat to KWD9.5m ($31m) for the first nine months of this year on the back of a surge in investment income.
Price Forbes Singapore has appointed Ms Jennifer Gray as director of professional risks and healthcare. In her new role, she will focus on effectively managing and expanding Price Forbes' professional lines and healthcare portfolio, leveraging her experience to drive growth through both domestic and international markets.
Amid the growth in demand for reinsurance, driven by four major transitions - climate, energy, digital, and demographic - Singapore will reinforce its status as Asia's leading reinsurance hub through several approaches, according to Singapore deputy prime minister, minister for trade and industry and chairman of the Monetary Authority of Singapore (MAS) Gan Kim Yong.
AM Best's population of global reinsurance companies posted a return on equity (ROE) of 22% in 2023, a five-year high, driven mainly by a turnaround in unrealised losses from the previous year and strong underwriting performance.
Toa Reinsurance Co has made efforts to improve its profitability, says S&P Global Ratings in a recent report titled "Asia-Pacific Reinsurance Sector Update - Improvements Are Underway".