Primary insurance companies from Central and West Asia have increased their attention to international reinsurance business as they seek to diversify their existing domestic books of business and establish a presence in foreign markets, according to a report by AM Best.
Regional expansion will be a priority for diversified financial services group ZimRe Holdings, according to its chairman, Mr Desmond Matete, who was speaking at the presentation of the group's financial performance for the year ended 31 December 2024. The expansion plan leverages the African Continental Free Trade Area (AfCFTA).
Casablanca-headquartered Société Centrale de Réassurance (SCR) has adopted a new name - Atlantic Re - as part of a strategic transformation driven by a clear ambition to consolidate leadership at home while accelerating regional expansion.
International speciality (re)insurance MGA, Rokstone DIFC, has appointed Mr Giles Hussey as senior executive officer, subject to regulatory approval.
The Central Bank of Egypt's decision last week to cut interest rates by 225 basis points has direct and indirect repercussions on the Egyptian insurance market, with the impacts varying depending on the type of insurance and the nature of the companies operating, said Mr Alaa El-Zoheiry, chairman of the Federation of Egyptian Insurance Companies.
In a major step toward global collaboration on disaster risk finance, four Regional Risk Pools convened in Frankfurt in April 2025 for a CEO Summit hosted by Frankfurt School of Finance & Management, to put shared commitments into action - backed by a new EUR 4.7m ($5.3m) grant supporting joint solutions, capacity building and knowledge-sharing across continents.
Africa Reinsurance Corporation (Africa Re), the leading African reinsurer, has reported a record profit for the second consecutive financial year in 2024 which amounted to $132.36m compared with $128.45m in 2023, translating into an increase of 3.05%, a demonstration of its resilience.
Hannover Life Re of Australasia (HLR Aus), a unit of Hannover Re, has agreed to acquire the Australian direct life insurance portfolio from Swiss Re Life & Health Australia, operating under the iptiQ brand.
Moody's Ratings has affirmed the Baa1 insurance financial strength rating (IFSR) on Peak Re.
Miller has appointed Ms Judith Zeleny as global head of origination, strategic advisory for its reinsurance practice.