Liberty Mutal Insurance has appointed to its recently formed APAC team Mr David Tam as chief information officer; Mr Robert Mercer as head of claims; Mr Tibor Nagy as CFO, effective 6 January 2025 and Ms Vidhi Kapoor as regional head of HR, effective 6 January 2025.
Tanzania Reinsurance Company (TAN RE) has a track record of strong operating performance, evident by a return-on-equity (RoE) ratio that exceeded 10% in each of the past five years, says AM Best in a report.
The Saudi Reinsurance Company (Saudi Re) posted a surge of 351% in net profit after zakat to SAR475m ($126.5m) for the nine months ended 30 September 2024.
Oman Re, the Sultanate of Oman's sole reinsurer, has reported a net profit after tax of OMR1.4m ($3.7m) for the first three quarters of this year, down from OMR1.9m for the first nine months of 2023.
The net profit attributable to shareholders of China's five major 'A'-share-listed insurance companies for the first three quarters of 2024 climbed steeply year-on-year.
Large losses, such as increased frequency and severity of extreme weather, could increase underwriting volatility at China Re Group, according to S&P Global Ratings (S&P).
PICC Reinsurance is expected to increase its premiums by 8%-10% over the next two years, says S&P Global Ratings (S&P) in its report titled "Asia-Pacific Reinsurance Sector Update - Improvements Are Underway".
The mainland Chinese insurance industry's premium income reached CNY4.79tn ($672bn) in the first nine months of this year, jumping by 7.2% year on year, according to the National Financial Regulatory Administration (NFRA).
The financial performance of Groupama SDIG Property Insurance Co, a 50-50 Sino-French joint venture, is regarded as 'Good', given its increasing underwriting margin and steady investment yield, says Fitch Ratings.
China Reinsurance (Group Corporation) [China Re] has reported a net profit of CNY2,411m ($337m) for the first nine months of 2024. The company's insurance income stood at CNY9,539m for the period.