Regional Chief Exec Javier Sánchez Cea hopes to get onshore branch licence within “months”.
Fitch forecasts moderation in property cat reinsurance rate increases to beneath 10%, with margins also expected to peak in 2024.
Gallagher Re report shows APAC GWP reached US$1.7 trillion in 2022 — dominated by motor, but low overall insurance penetration highlights region's growth potential.
Underwriting discipline, climate change and gen AI all featured prominently on the agenda as industry gathered for Asia’s largest (re)insurance conference.
Tobias Farny, Munich Re's Chief Executive of China, spoke to (Re)in Asia about various priorities for the German reinsurer, including green technology, electric vehicles, and cyber.
Reinsurers pulled back from the market last year but things are now stabilising.
Hardening rates, cost of capital, the protection gap, climate change, cyber, and AI all featured prominently during Les Rendez-Vous de Septembre 2023.
Despite economic turbulence and sector-wide risks, S&P Global Ratings has improved the sector's outlook, from negative, attributing the upgrade to underwriting performance and strategic pricing.
The Australian insurer renewed its 2.5% whole-of-account quota share arrangement with Hannover Re, marking the completion of all four of its reinsurance arrangements with global reinsurers.
Property pricing witnessed risk-adjusted rate increases, casualty faced pressure due to prior-year losses and economic factors, while the cat bond market experienced record highs in issuance and total amount.