Reih Angeles is Deputy News Editor at (Re)in Asia, steering the desk's breaking coverage of Asia Pacific insurance and reinsurance. Areas of specialty include insurer and life results, reinsurance and catastrophe losses, cyber, and regulatory change across India, Korea, China and Hong Kong.
The insurer has also reviewed 365 additional complaints across Prudential Life and Gibraltar Life since January, with 125 cases qualifying for reimbursement.
The institute said insurers need better data access, stronger overseas risk controls and reforms to subsidiary rules as domestic market pressures intensify.
Behind the softer pricing lies a market propped up by excess capacity, with the report warning that a retreat by just a handful of dominant reinsurers could trigger a rapid reversal.
