Africa-focused reinsurers are rising to the challenge of the increasingly evolving risk landscape, even as persistent high inflation and slowing economic growth weigh on the continent, says Munich Re.
GIC Re, India's only locally incorporated reinsurer, plans to increase the proportion of its international business to diversify its revenue sources.
Members of the Netherlands-headquartered International Credit Insurance & Surety Association (ICISA) met recently in Porto, Portugal, to address the challenges and opportunities encountered by the sector in a dynamically changing global environment.
Howden Tiger, the global reinsurance arm of Howden, will rename itself as Howden Re in April 2024.
1 April renewals in China saw the consolidation of favourable trends witnessed at the January renewals and an easing of market conditions from 2023, according to Aon in its "Reinsurance Market Dynamics April 2024" report released earlier this week.
China's biggest reinsurance group, China Re, has posted a turnaround in its financial results with net profit attributable to equity shareholders of the parent company amounting to CNY5,652m ($781m) in 2023, representing a huge year-on-year increase of CNY5,977m, from a net loss of CNY324.6m in 2022.
AXA China Region Insurance Company (Bermuda) Limited (AXA Insurance) has completed the acquisition of all the shares of XL Reinsurance (China) Company (XL Re China), according to a company statement.
Following challenging renewals in 2023, the Korean reinsurance market was stable at 1 April, with more than adequate capacity for property catastrophe risks, says Aon.
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.
Mitsui Sumitomo Insurance Company and Aioi Nissay Dowa Insurance Co, as members of the MS&AD Insurance Group, have jointly issued the "Tomoni Re 2024" catastrophe bonds (CAT bonds) in Singapore covering domestic natural disaster risks in Japan.