Agricultural insurer highly exposed to CAT risk

...reinsurance arrangements help keep its net modelled losses to a manageable level relative to its capitalisation....

NAFR stipulates main responsibilities in developing green insurance

...reinsurance companies in developing catastrophe models to improve the industry's catastrophe risk pricing capabilities. They are also to carry out pricing reviews of green insurance products, imp...

Japan: CAT reinsurance market at turning point

...;Reinsurance Market Dynamics April 2024” report, Aon points out that 1 April is the key renewal period for Japan, with more than 95% of reinsurance renewing, including some of the world’s...

Global insured losses from Nat CAT events in Q1 2024 estimated at $20bn

...reinsurance broker Gallagher Re said the economic losses from all natural perils at an estimated $43bn in Q1 were 17% lower than the most recent 10-year Q1 average. Estimated insured losses in Q1 202...

Appetite to write political violence risks is decreasing

...Reinsurance capacity and the general appetite to underwrite political violence risks is reducing as insured losses from civil unrest grow according to a new report by Allianz Commercial....

UAE: Floods expected to have earnings impact

...reinsurance policies, depending on the reinsurance coverage companies have in place. This implies that the liability of those insurers would be capped at a set amount....

Malaysian Re and Chinese insurance giant CPIC sign MOU to develop health plans

...Reinsurance Working Committee to support the establishment of the ASEAN Renewable Energy Pool, conceptualised by the reinsurer and under the oversight of the ASEAN Insurance Council....

India govt open to selling stake in GIC Re, LIC in FY24/25, says report

...The Indian government is open to a minority stake sale in General Insurance Corporation of India (GIC Re) and Life Insurance Corporation of India (LIC) in the current financial year which started on 1 April 2024, after assessing investor appetite, reported Reuters....

Namibia: State-owned reinsurer' outlook amended to 'Positive', reflecting sovereign prospects

...reinsurance peers, (ii) its geographic concentration in Namibia both in terms of operations and assets, and (iii) less robust risk management capabilities relative to its global peers....

South Africa: Sanlam Group's earnings remain strong

...reinsurance rates....

UAE: Flood costs to be manageable because of low penetration and extensive reinsurance cover

...reinsurance cover, should keep the cost borne by the country’s primary insurers at a manageable level....

Middle East: S&P says insurers currently broadly unaffected by Israel-Hamas conflict

...reinsurance is relatively immaterial and should not affect the ratings of foreign insurers. Although not its base case, S&P sees a risk that any widening of the conflict could affect capital mark...

Global: Munich Re appoints new leadership

...reinsurance roles at a leading insurer in India. In MENA: Mr Andreas Pollman will focus on his role of cl...

Hong Kong: Moody's changes Peak Re's ratings outlook to 'Stable'

...reinsurance market, solid capitalisation, and expanding product and geographic diversification. These strengths are offset by Fosun's high debt leverage and weak liquidity, and Peak Re's expo...

Indonesia: New reinsurer licensed by financial regulator

...Reinsurance, located...

South Africa: Sanlam Group's earnings remain strong

...reinsurance rates....

Middle East: S&P says insurers currently broadly unaffected by Israel-Hamas conflict

...reinsurance is relatively immaterial and should not affect the ratings of foreign insurers. Although not its base case, S&P sees a risk that any widening of the conflict could affect capital mark...

Fitch revises outlooks on 6 insurers to 'Negative' after sovereign rating action

...Reinsurance Company is not considered for this rating action because its IFS rating of 'A/Stable' reflects its standalone credit quality without any uplift provided....

India: Emergence and growth of insurance lines will require additional capacity

...reinsurance protection, across all lines of business....

Turkiye: Appeal made again for motor pricing liberalisation

...reinsurance spiral....

Oman: Call for action amidst flood carnage

...reinsurance, says Mr Murtadha M J Ibrahim al Jamalani, chairman of the Finance & Insurance Committee – Oman Chamber of Commerce and Industry (OCCI)....

Australia: Imminent El Nina phase expected to cause major rain events on the east coast

...The El Nino phase is weakening after a peak in November 2023, says global reinsurance broker Gallagher Re in its " Australian Autumn Climate Outlook" report....

India: GST Council discusses exempting reinsurance from GST

...reinsurance is not a supply of service and thus would not be subject to an 18% GST. Many leading insurance comp...

Taiwan: 3 April quake results so far in claims totalling at least US$23.5m

...reinsurance programme has been loss-free since its establishment in 2002. However, the extent of...

Appetite to write political violence risks is decreasing

...Reinsurance capacity and the general appetite to underwrite political violence risks is reducing as insured losses from civil unrest grow according to a new report by Allianz Commercial....

Africa: Reinsurers rise to challenge of inflation and evolving risk trends

...reinsurance market outlook, stakeholders need to acknowledge the subtle differences that exist between the exposures they may encounter in Africa versus those in Asia-Pacific, Europe, and North Ameri...

Egypt: Mid-tier insurer's operating performance seen as adequate despite high expense ratio

...reinsurance, evident by a premium retention ratio of 41.3% in fiscal year 2023. However, the associated counterparty credit risk is mitigated partially by the use of a financially strong reinsurance...

India: Aon appoints new CEO of reinsurance solutions

...reinsurance analytics team in 2010, before leading its APAC agriculture practice and client management function across several large regional and Singapore-based accounts...

Indonesia: 3rd biggest general insurer posts strong operating results

...reinsurance companies not rated on an international FSR scale....

APAC: Guy Carpenter appoints new managing director

...reinsurance market for his 30-year career and has held senior financial, credit and specialty roles at major reinsurance firms including Swiss Re and Asia Capital Reinsurance Group....

Wotton + Kearney sets sights on Singapore global insurance hub

...reinsurance markets and gives Wotton + Kearney a platform to service the infrastructure, power gen and renewable energy growth across the region when the Singapore office opens in June, the law firm...

Taiwan: 3 April 'quake insurance claims unlikely to exceed losses chalked up in 2016 tremblor

...reinsurance market....

India: GIC Re aims to expand international business portfolio

...GIC Re, India's only locally incorporated reinsurer, plans to increase the proportion of its international business to diversify its revenue sources....

Global: Active Re participates in ICISA meeting

...reinsurance company with a global presence and a full-fledged member of ICISA, participated in the meeting to discuss topics important to the industry....

Cyber insurance: Risks and trends 2024

...reinsurance Thomas Blunck said, “There is still too high a proportion of uninsured cyber risks. According to our current global cyber survey, 87% of managers surveyed state that their company i...

South Africa: General insurance market to exceed US$10bn by 2028

...reinsurance rates. This will increase the premium rates of home and construction insurance policies, which will support property insurance growth.”...

Vietnam: Biggest non-life insurer shows robust operating results

...reinsurance dependence to support the underwriting of large commercial property, engineering and energy risks....

Reinsurance: Howden Tiger to become Howden Re

...reinsurance broker....

GCC: Revenue of 76 listed insurers rises by 19% to US$32.2bn in FY2023

...Reinsurance Co’s (QGRI) financial results draw attention in Qatar, as the insur...

AXA group completes acquisition of XL Re China

...reinsurance solutions to clients in the Chinese market....

New China Insurance posts flat GWP and plunge in net profits in 2023

Zhongyuan makes underwriting gains through disaster prevention and loss reduction efforts

...reinsurance arrangements. The expense ratio improved to 15.6% in 2023, from 19.9% in 2022, on better economies of scale and cost control....

PICC Group's net profit falls on lower investment returns

China Re sees massive rebound in financial performance in 2023

China: Robust reinsurance market despite economic slowdown

...reinsurance market is largely driven by domestic underwriting performance, and less by global market cycles. Despite a downturn in the property market and a slowdown in economic growth, China’s...

India: Aon completes acquisition of local broker

...reinsurance markets, which combined with Aon's talent consulting business, creates an integrated team of over 1,100 colleagues across Aon in India. Following the finalisation of the merger proces...

Japan: 2 major non-life insurers issue CAT bonds

...reinsurance and CAT bonds, the MS&AD Insurance Group Holdings says that the group will continue to strengthen risk management and improve the soundness of management while promoting initiatives t...

Global: French reinsurer delivers buoyant financial performance

...Paris-headquartered international reinsurer, CCR Re, has reported an EBITAER (Earnings Before Interest, Taxes, Amortisation and Equalisation Reserve) of EUR88m ($95.4m) and a net income of EUR56m for 2023, higher than the EUR64m and EUR4m posted for 2022 respectively....

South Korea: Predictable 1 April renewals in stable reinsurance market

...Reinsurance Market Dynamics April 2024” report released on 2 April, Aon says that 1 April represents the second largest renewal for Korea’s insurers,...

Turkiye: Insurance association head presents industry report card and wishlist

...reinsurance costs....