Industry Segments: Reinsurance Page 24 / 72
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- March 30 2023
‘Tough’ Philippines renewals seeing up to 50% hikes in property, PV to climb 30%
Reinsurers adamant on rate increases even for loss-free accounts due to cat exposure, inflation and treaty costs.
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- March 30 2023
China Taiping’s domestic P&C COR improves to 99.5%; Taiping Re’s at 102.6%
The insurance group's overseas P&C business saw a net profit gain of 589%, while its reinsurance arm's net profit grew 538%.
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- March 28 2023
Lexasure-Blimobil deal to offer specialty reinsurance products
Blimobil is looking to offer insurance for cyber, asset protection, usage-based motor, home appliances and extended warranty.
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- March 27 2023
India renewals to see prices climb 10-35%
The market is likely to see property, fire and marine premiums correcting as negotiations hit their final week.
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- March 24 2023
Lloyd’s Asia GWP growth ‘in line’ with global figure of 19%
Iain Ferguson, Lloyd’s regional director APAC, Middle East & Africa, said FY 2022 expansion had been driven by specialist classes, property, financial lines and treaty.
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- March 24 2023
Japan H3 rocket failure losses trigger domestic aviation pool
With the launch costs estimated at around US$50m, the loss won’t spill over to international reinsurers.
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- March 23 2023
Youi names Laura Wood as head of reinsurance
Laura to join Youi from Swiss Re and will replace Piers Maunder on April 17.
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- March 20 2023
Korean Re 2022 COR flat at 100.4%, gross premiums grow 16%
The carrier's GWP climbed to US$7.4bn, but its net profit fell 1.5% to US$133.5m.
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- March 13 2023
Fac broker Reggie Choo to join Miller in Singapore
Choo joins Miller from Bowring Marsh at a time when facultative (re)insurance becomes increasingly in demand in Asia.
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- March 10 2023
Hong Kong 2022 P&C underwriting profit doubles to US$535m
While gross premiums grew 4.5% year-on-year, claims fell by the same percentage during the year, according to the Hong Kong Insurance Authority.
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- March 10 2023
Hannover Re’s 2022 APAC P&C combined ratio surges to 126.1%
The German reinsurer was hit by floods in Australia and Malaysia, typhoons in Japan and South Korea and Covid losses in Taiwan and Thailand.
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- March 9 2023
Gallagher Re acquires WTW’s India treaty business, puts Vinod Krishnan in charge
The broker will consolidate its reinsurance teams in the country with Krishnan relocating to Mumbai.
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- March 9 2023
Minesh Jani to lead Howden Tiger’s India operations
Jani’s mandate is to expand treaty, retrocessional and specialty reinsurance solutions in Middle East, Africa and India.
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- March 8 2023
New Zealand P&C insurers staring at weaker earnings season: S&P Global
Kiwi's carriers have adequate capital buffers despite two Q1 mega weather events which will contribute to rising reinsurance costs.
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- March 8 2023
Japan windstorm hardening in 1.4 renewals spotlight
Pressure across the reinsurance market is delaying negotiations and could push up some rates 20-30%.
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- March 8 2023
Swiss Re secures US$700m alternative capital from JP Morgan
The stop-loss protection will run across the financial years 2023 to 2027 covering severe underwriting losses.
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- March 6 2023
Tower places reinsurance reinstatement cover
Tower said it now maintains sufficient protection for two additional catastrophe events in FY 2023 following the Auckland flooding and Cyclone Gabrielle.
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- March 3 2023
Swiss Re, Aon team up for parametric earthquake cover for Nepal hydropower project
This is the first time that the IFC and other developmental agencies have agreed to finance a construction project backed by parametric insurance.
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- March 3 2023
Gallagher Re hires Shilpa Pankaj as APAC agriculture co-head
Based in Singapore, the former Guy Carpenter exec will also co-head agriculture for EMEA and Latin America alongside David Gregori.
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- March 3 2023
Lexasure plans regional (re)insurance expansion after US$250m SPAC deal
The group, which owns broker Acurra International, Front Street Re and the Archipelago Group, is expected to start trading on Nasdaq later this year.
