Africa Specialty Risks launches first African-focused syndicate writing business at Lloyd's
Middle East Insurance Review Magazine » Reinsurance
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1w ago
Africa Specialty Risks (ASR), the pan-African focused (re)insurance group, has launched ASR Syndicate 2454 focused on underwriting business across Africa ..read more
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UAE: Insurance sector in DIFC posts record-high premiums in 2023
Middle East Insurance Review Magazine » Reinsurance
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1w ago
Dubai International Financial Centre (DIFC), the leading global financial hub in the Middle East, Africa and South Asia (MEASA) region, has consolidated its position as the principal hub for the (re)insurance industry, with the highest gross written premiums (GWP) recorded in its 20-year history of $2.6bn in 2023, increasing by 23% from $2.1bn in 2022 ..read more
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Oman Re posts sharp 83% climb in after-tax profits in 1Q2024
Middle East Insurance Review Magazine » Reinsurance
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1w ago
Oman Re, the Sultanate of Oman's sole reinsurer, has announced a significant surge in its net profit after tax for the first quarter of 2024, reaching an impressive OMR977K ($2.5m ..read more
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Hong Kong: Peak Re posts highest-ever net profit in 2023
Middle East Insurance Review Magazine » Reinsurance
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1w ago
Peak Reinsurance Company (Peak Re), the Hong Kong-based global reinsurer, has announced that it has achieved its best-ever net profit of $200m, as the reinsurer released its annual results for the year ended 31 December 2023 ..read more
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Egypt: Regulator prepares studies on forming national reinsurer
Middle East Insurance Review Magazine » Reinsurance
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1w ago
The Financial Regulatory Authority is preparing the necessary technical and operational studies that could lead to the establishment of a national reinsurance company ..read more
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Hong Kong: World Bank issues second CAT bond
Middle East Insurance Review Magazine » Reinsurance
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1w ago
The Insurance Authority (IA) has announced the issuance and listing of a catastrophe bond, amounting to $150m in Hong Kong by the International Bank for Reconstruction and Development of the World Bank Group, offering protection against storm risks in Jamaica over the next four hurricane seasons ..read more
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Asia-Pacific: Hannover Re derives nearly 20% of gross reinsurance revenue from the region in 2023
Middle East Insurance Review Magazine » Reinsurance
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1w ago
One of the world's leading reinsurers, Hannover Re, posted gross reinsurance revenue in the Australasia region in 2023 of EUR4.57bn ($4.92bn), 6.4% lower than in 2023, according to the reinsurer's 2023 Annual Report ..read more
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Africa: Reinsurers rise to challenge of inflation and evolving risk trends
Middle East Insurance Review Magazine » Reinsurance
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2w ago
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 ..read more
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Asia Pacific: Global Risk Solutions launches single strategy for the region
Middle East Insurance Review Magazine » Reinsurance
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2w ago
Global Risk Solutions (GRS), Liberty Mutual's global commercial and specialty (re)insurer and international insurance operations, has been restructured to bring together two business units in Asia - LSM and Asia Retail Markets - under a single unified strategy in the region ..read more
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Hong Kong: ILS traction continues with successful first conference
Middle East Insurance Review Magazine » Reinsurance
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2w ago
Hong Kong's Insurance Authority (IA) held its Insurance-linked Securities (ILS) Conference earlier in April 2024. The conference, tailored specifically for institutional investors and related professional service providers, was the first of its kind ..read more
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