According to a digital report published by Marsh, (re)insurers in the Middle East are "eager to expand their property portfolios".
Sompo has appointed Ms Lily Claydon as CRO, effective 3 March 2025. In her new role, she will be responsible for leading Sompo's APAC risk management, governance and analytics, in addition to developing talent and capabilities across the region. She will also join the APAC executive team based in Singapore.
SCOR has appointed Mr Holger Schaefer as global head of casualty and environmental impairment liability within SCOR Business Solutions, effective 1 March 2025. He takes over from Mr Daniel Carerras, who moved on to the role of CUO, casualty.
Aon has appointed Mr Wesley Roy head of property for Australia and New Zealand. He joins Aon's Reinsurance Solutions team.
On 10 January, the China Financial Regulatory Administration (CFRA) reported that after a 6.8-magnitude earthquake struck Dingri County in Shigatse, Tibet, the CFRA quickly activated an emergency response.
Africa Specialty Risks (ASR), the Africa and Middle East focused (re)insurance group, announces the launch of the first Africa Focused Lloyd's Consortium.
These are the highlights for all events and updates across the industry this week.
The Insurance and Social Security Supervisory Authority (ACAPS) in Morocco is currently conducting a feasibility study on the introduction of mandatory home insurance. This approach is part of a comprehensive vision of protection against home-related risks and modernisation of the insurance framework in Morocco, reported Hespress.
Taiwan's insurance sector recorded a total pre-tax profit of $10.89b (TWD351.3b) in November 2024. Life insurance companies' contribution was $10.71b (TWD326.3b) in November 2024 according to the data from the Insurance Bureau.
In 2024, PICC experienced significant changes in both product offerings and leadership. Frequent personnel adjustments continued, including multiple changes at the group level, while challenges in key metrics for its core P&C insurance business came to the forefront.