Despite heightened challenges — including climate risk and social inflation — AM Best's report suggests a stable, yet cautious global reinsurance market with opportunities for increased margins.
AM Best maintains stable outlook for Vietnam's non-life market, anticipating long-term benefits from regulatory changes made in early 2023.
Fitch forecasts moderation in property cat reinsurance rate increases to beneath 10%, with margins also expected to peak in 2024.
Fitch affirms PT Tugu Reasuransi Indonesia's National IFS Rating at 'A+(idn)', but notes volatility from its property and credit insurance segments — which have seen COR rise to 106% in the first nine months of 2023.
Insurance Council of Australia's Andrew Hall delivered an impassioned speech on the country's protection gap — urging short-term tax reform alongside other medium and long-term recommendations.
GIC Re sees rating outlook upgraded to positive and a National Scale Rating designation of 'aaa.IN' (Exceptional), reflecting enhanced financial stability and enterprise risk management.
More expertise, communication, trust, and transactions are needed - but Shanghai's international reinsurance trading platform opens up opportunities for global (re)insurers.
Tomi Latva-Kiskola will join Everest from AIG and Swee Keong Mah is promoted to Singapore CEO, having served as Interim Regional Head of Insurance since July.
Volante continues its expansion in Asia with the appointment of seasoned reinsurance professional Liu Song, who be responsible for Treaty in Southeast Asia, Greater China, and South Korea.
AM Best reaffirms China Re's 'A' ratings with a stable outlook, acknowledging its dominant position, successful Chaucer integration, strategic international growth with Chaucer, and influential government ties.