Industry Segments: Reinsurers Page 29 / 75
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- February 16 2023
Allianz sees claims from cyclone pool after Gabrielle hit Norfolk Island
The storm caused minor damage to the external territory before it slammed New Zealand.
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- February 14 2023
Thai Re could tighten terms to limit underwriting losses: Fitch
Thai Reinsurance’s financial strength rating has been affirmed at 'A-' (strong) with a stable outlook.
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- February 13 2023
Bangladesh reinsurance policies at risk of lapsing due to dollar shortage: report
Several cedents have been unable to pay premiums over many months due to restrictions on foreign currency remittance from the country.
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- February 13 2023
Auckland floods and Turkey earthquake add pressure on upcoming renewals
Recent disasters are likely to trigger reinsurance payouts and add to the capacity woes and rate increases that's been vexing renewals.
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- February 9 2023
Tower ‘likely’ to buy reinstatement cover as Auckland floods set to trigger reinsurance
The New Zealand carrier has so far seen over 4,800 claims from the weather event and has a cat excess of US$7.5m.
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- February 9 2023
French consortium to acquire CCR Re majority interest
New owners will infuse US$215m in fresh capital into the reinsurer, which derives around 25% of its premium income from Asia.
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- February 9 2023
Auckland floods could be ‘1-in-250 year’ event: Suncorp NZ
"The significance of this event has reached the corridors of global reinsurers," says CEO Jimmy Higgins.
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- February 9 2023
Hannover Re cuts APAC premium volume by 21.6% in 1.1 renewals
The German reinsurer cut back on proportional treaty in Malaysia and China, but XOL premiums filled some of the void.
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- February 8 2023
Suncorp misses H1 cat allowance by US$69m, books 94.5% Australia COR
Australian insurance profits rose 142%, helped by a US$104m Covid BI provision release.
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- February 7 2023
Andrew Harris to lead reinsurance for Oneglobal Singapore
Market veteran Harris will provide capital and placement solutions for climate change-affected nat cat risk exposures across Asia Pacific.
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- February 7 2023
India’s appeal grows amid China pessimism
Global reinsurers and Lloyd's syndicates hone in on the market as the IRDAI seeks to cut red tape.
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- February 7 2023
Scor’s rating downgraded over profitability issues and surprise CEO exit: Moody’s
Moody's expects that it will take time for the senior management to rebuild the group's track record.
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- February 6 2023
Retro squeeze pushes Asia reinsurers to more tailored cover
Portfolios exposed to the US, Japan and loss-hit territories saw the highest prices, increased retentions and capacity withdrawal at 1.1. renewals.
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- February 3 2023
IAG hit by 15,000 claims from NZ floods, ups FY 2023 nat cat forecast by US$167m
Reinsurance likely to be triggered as the Australian carrier says gross costs for the Auckland event are set to exceed US$248m, above a maximum event retention of US$167m.
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- February 2 2023
Swiss Re’s Paul Murray handed global L&H role with Urs Baertschi to head P&C in restructure
Regional president roles, including Murray's APAC and Baertschi's EMEA positions, will not exist from April as reinsurance business splits into global P&C and L&H divisions.
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- February 2 2023
Scor’s APAC leadership faces 1.4 renewals test after Laurent Rousseau exit
The French reinsurer will be looking to capitalise on last year's growth with new CEO Thierry Léger starting in May.
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- February 1 2023
Axa XL appoints Dan Bryan head of Asia, reinsurance
Axa XL's head of treaty underwriting for Asia replaces Ann Chua who becomes a special adviser.
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- February 1 2023
New Zealand’s insurers reel from country’s ‘worst-ever’ climate catastrophe
As adjusters start work, hundreds of million of dollars of claims are expected, including significant commercial damage.
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- January 30 2023
Asia 1.4 renewals to bring more rate hikes and tough negotiations
Nat cats are set to impact the Philippines, while global trends will push up pricing in India and Japan.
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- January 27 2023
S&P lowers Toa Re’s rating to A after large Covid and cat claims
The Japanese reinsurer made a loss in the first half of the current fiscal year and its combined ratio has exceeded 100% for four consecutive years.
