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.
This year's Singapore International Reinsurance Conference (SIRC) showed how critical informed discussion is in advancing the role of reinsurance as an enabler of a sustainable future for mankind. This can be considered to be the direct result of the years of extensive curation and endeavour that the Singapore Reinsurers' Association (SRA) - and in particular its chair Marc Haushofer and outgoing executive director Jeffrey Yeo - put into making the SIRC a preeminent reinsurance event globally.
Nairobi-headquartered East Africa Reinsurance Company (EARe) has expanded its operations by establishing a subsidiary in Tanzania, called East Africa Reinsurance (Tanzania) Company.
Tugu Reasuransi Indonesia's (Tugure) GPW growth slowed to 3% year on year in the first nine months of this year (9M23), compared with 24% growth in 2022, as it aimed to improve its underwriting result rather than focus on the top-line, notes Fitch Ratings Indonesia (Fitch).
AzRe Reinsurance, the only reinsurance company in Azerbaijan, has achieved strong operating results in recent years, as demonstrated by a five-year (2018-2022) weighted average return on equity of 19.8%, notes AM Best.
China Reinsurance (Group) Corporation (China Re) has been consistently profitable over the past five years, with an average return-on-equity ratio of 5.0% (2018-2022), mainly supported by returns on interest income sourced from fixed-income investments, which comprise the majority of its investment portfolio, says AM Best.
General Insurance Corporation of India (GIC Re) produces an adequate operating performance, supported by a five-year average return-on-equity ratio of 5.3% (FY2019-2023), says AM Best.