Industry Segments: Reinsurance Page 3 / 70
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- September 26 2024
Reinsurers pivotal to supporting China’s cat insurance system: Taiping Re’s Sheldon Yu
The Chinese government has stated its intention to promote a catastrophe insurance system that will run along market principles, as regulators seek to improve the country’s response to natural catastrophes, which have caused direct economic losses of US$12.8bn in H1 2024.
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- September 24 2024
MIC Global partners with GIC Re to expand digital reinsurance in India
The latest partnership builds on an earlier collaboration with P&C carrier, The New India Assurance, as the micro insurer is ready to expand its solutions to more carriers in the country.
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- September 23 2024
Korea’s Wise Insurance appoints Yubeom Kim as reinsurance team director
Before joining Wise, Seoul-based Kim worked at HIS Insurance for over seven years where he was most recently director.
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- September 23 2024
Tower raises cat reinsurance excess for first two events to US$11.7m
An excess for a third event remained unchanged at US$12.5m, while the Kiwi P&C player has increased its upper cat limit to US$500m from US$468m for FY2025.
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- September 16 2024
Swiss Re elevates Seng Lee to co-head corporate development
The Hong Kong-based M&A specialist has been managing director for the reinsurer since August 2022.
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- September 16 2024
RVS Monte Carlo: Market can expect return to calmer waters
After a bruising couple of years, this year’s Rendez-vous de Septembre indicated that the hard market is over, with alternative forms of capital and risk solutions here to stay.
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- September 11 2024
Japan, Australia are top two APAC markets most sensitive to rise in nat cat claims: S&P
Insured annual catastrophe losses averaged US$6.6 billion in Japan, and US$2.5 billion in Australia over a ten-year period. China ranked third in Asia, at US$1.7 billion, according to the rating agency.
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- September 10 2024
Typhoon Yagi losses may drive up rates, tighten treaty terms in Vietnam
Insured losses are climbing as carriers in China, Vietnam and the Philippines count the damages after the region's strongest storm this year destroyed houses, factories, infrastructure and crops across the three countries.
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- September 9 2024
Multi-peril risks fuel demand for cat coverage: Hannover Re
The reinsure anticipates prices and conditions to remain stable for the January 1, 2025, treaty renewals with supply and demand in most markets remaining balanced.
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- September 9 2024
Sherly Oktavia joins Oneglobal as divisional director for Asia reinsurance
Oktavia, who was most recently general manager at Tugu Insurance in Hong Kong, will relocate to Singapore for her new role.
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- September 9 2024
RVS Monte Carlo: Reinsurers and primary markets continue to have ‘attachment issues’
As Asian cedents, especially loss-hit players, are pushing for lower attachment points, reinsurers resist, determined to defend their hard-earned gains, note S&P Ratings analysts.
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- September 6 2024
RVS Monte Carlo: Reinsurer returns will remain attractive despite expected softening of rate – Aon
In a briefing ahead of the Monte Carlo reinsurance summit, the broker forecasts an increase in pricing competition in 2025, and that insurers will begin to see greater flexibility around capacity provision and coverages.
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- September 6 2024
APAC reinsurance composite’s 2023 COR improves to 91.6%: AM Best
Regional reinsurers saw revenue rise 8.8%, with much of the growth fuelled by China Re and its subsidiary Chaucer.
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- September 4 2024
Indian government launches US$560m sale of 6.8% GIC Re stake
The secondary placement, being offered at a floor price of US$4.70 apiece over two days, is intended to reduce the government's stake in the reinsurer to meet the minimum public float requirements for Indian listed companies.
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- September 3 2024
Exclusive: ARB appoints Eunice Ang as divisional director for treaty reinsurance
Singapore-based Ang, who joins from Axa, is responsible for treaty relationships within South-East Asia with a focus on Indonesian retro programs and clients in the Philippines.
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- September 2 2024
Typhoon Shanshan set to trigger significant BI, property losses, weigh on reinsurance market
While the impact on reinsurance is unclear now, repeated or severe cat events in the area in the future may prompt reinsurers to reduce their underwriting commitments or increase premiums.
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- September 2 2024
Toa Re America’s underwriting performance pressured by social inflation: AM Best
AM Best affirmed its "A" (excellent) financial strength rating and a stable outlook for Toa Re and its subsidiaries, including Toa Re's US subsidiary.
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- September 2 2024
Hong Kong H1 2024 P&C underwriting profit climbs 34% to US$250m
The improvement came despite net claims incurred during the period rose 9.3% year-on-year, as growth in overall premiums and smaller losses recorded in third-party motor insurance helped the sector's results, provisional data from the HKIA shows.
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- August 31 2024
China Re H1 2024 insurance revenue of domestic P&C reinsurance up 17.5% to US$3.3bn
Overseas P&C reinsurance and Chaucer and P&C insurance divisions grew 10.2% and 2.6% year-on-year, respectively.
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- August 30 2024
South Africa’s Santam to expand into Asia: report
The move follows the success of the general carrier's parent Sanlam in India, where it has been in partnership with Shriram Capital Group since 2005 and is recording about 17% of profit.
