Global non-life premiums are expected to grow to $4.8tn in 2025 (2024: $4.6tn), with an 85%:15% split between advanced and emerging markets, according to Swiss Re Institute's latest Sigma report, titled 'World insurance in 2025: A riskier, more fragmented world order'.
Canopius has appointed Ms Micia Yong as head of property and specialty treaty APAC.
At least 20 (re)insurers have failed somewhere in the world in every single year between 2000 and 2024, according to the third edition of the "Global Failed Insurer Catalogue" published by Property and Casualty Insurance Compensation Corporation (PACICC).
Africa Re has announced that, after a one-year transition and succession programme, Mr Ephraim Kiiza Bichetero has assumed duty as substantive managing director/COO, from deputy managing director/COO.
Property risk excess of loss pricing has become very competitive in the South African market with quoted prices reducing on average by a risk-adjusted -7%, during the 1 July renewal season, according to broker Gallagher Re.
The creation of a public reinsurer in Cameroon is expected to be a reality soon, facilitated by a law on mandatory cessions.
Proportional treaties continued to dominate the property reinsurance market in the Middle East during the 1 July renewal season, according to broker Gallagher Re.
Lloyd's of London will set up a regional office in Nairobi in an agreement signed in London with the Nairobi International Financial Centre Authority.
Gallagher Re has appointed Mr Pablo Muñoz as CEO of global facultative reinsurance. In this newly created role, he becomes a member of the Reinsurance Global Executive Committee and will collaborate closely with Gallagher Re's leadership team to enhance the firm's facultative capabilities and broaden its client reach.
The plan by the Tasmanian Liberals to establish a state-owned insurance company would put significant financial risk onto the public balance sheet according to Insurance Council of Australia (ICA).