Industry Segments: Reinsurers Page 23 / 75
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- August 4 2023
Qin Lu becomes Aon’s Greater China CEO
He was most recently Greater China chief executive at Aon Reinsurance Solutions and head of commercial risk solutions, China.
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- August 2 2023
Scandal-hit Vesttoo to close Asian offices: report
The insurtech will close its Tokyo, Hong Kong and Seoul offices, and lay off around 75% of its global staff.
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- August 1 2023
Axa XL bolsters north Asia marine team with two senior promotions
Shirley Kwok has been promoted to head of marine cargo, North Asia, with Gary Tin elevated to senior underwriter.
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- July 31 2023
Korea’s evolving underwriting dynamics put reinsurance in focus
Carriers may need to improve underwriting discipline in light of the hardening market and rising interest rates.
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- July 28 2023
Earthquake risk concentration weigh on Reasuransi Maipark’s earnings: Fitch
The rating agency has affirmed insurer rating A with a stable outlook for the Indonesian reinsurer.
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- July 27 2023
Philippines eyeing national indemnity programme for 2024 after World Bank cat bond expiry
The country, hit this week by Typhoon Doksuri, is seeking US$37m in the 2024 national budget to cover the premium costs.
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- July 26 2023
Philippines non-life market outlook negative due to higher risk retention: AM Best
The country’s carriers have reduced proportional cover for property insurance due to the hardening market and tighter terms.
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- July 24 2023
Toa Re posts 6% growth in net premiums
Toa Re wrote US$2.26bn of premium for the year ended March 31, 2023.
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- July 24 2023
Marsh reports 8% underlying growth for Asia Pacific in H1 2023
Marsh McLennan global CEO John Doyle says Asia is one of the parts of the world where there's a "meaningful protection gap".
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- July 20 2023
China Construction Bank at centre of Vesttoo US$4bn reinsurance collateral fraud: report
Forged letters of credit issued by the Chinese lender is revealed to have been used by investors for ILS transactions on the insurtech platform.
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- July 19 2023
APAC braces for escalating droughts, increased bushfires as El Niño develops: Gallagher Re
The first half of 2023 saw above-average nat cat losses with APAC accounting for 12% of an estimated US$138bn of global economic losses.
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- July 17 2023
Tokio Marine’s underwriting profitability to improve modestly: Moody’s
The rating agency affirmed the insurer a rating of Aa3, one notch above the Japanese sovereign rating of A1, with a stable outlook.
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- July 14 2023
Nat Re to rejig portfolio with a shift to life business to improve profitability: AM Best
The rating agency has affirmed the reinsurer's rating of B++ (good) with a stable outlook.
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- July 13 2023
Everest chopper crash signals turbulence for Nepal’s aviation fac market
IAN understands the helicopter crash this week that killed six people will cost reinsurers around US$2.5m and adds to a series of safety failures that will likely see prices and retentions soaring.
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- July 12 2023
Jacques de Vaucleroy proposed as next Swiss Re chairman
The board unanimously approved current vice-chairman de Vaucleroy's elevation following an extensive selection process launched since the departure of Sergio Ermotti in April.
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- July 12 2023
Axa mulling sale of reinsurance arm: report
The French insurer is considering a sale or an IPO for Axa XL Reinsurance as the group looks to reduce earnings volatility, according to Reuters.
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- July 10 2023
India to keep 4% obligatory cession for GIC Re: report
Under the right to first refusal, GIC Re has the first right to choose the reinsurance business from the general insurers and then it can be placed with other reinsurers.
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- July 10 2023
Opinion: Australia’s cyclone pool helps ease pressure on cat limits
ACRP is set to assume more than 90% of the market’s cyclone exposure for household, strata and small business property policies.
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- July 7 2023
IAG reduces aggregate cover and increases retentions in July 1 renewals
The Sydney-based insurer purchased aggregate, third and fourth event reinsurance covers for FY 2024.
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- July 7 2023
Hannover Re and IAG renew 2.5% quota share
The new arrangement is effective from July 1, 2023, and has a term of five years.
