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IGI appoints David Anthony & Anwar Al-Jabri as Non-Exec Directors to its Board
7th August 2018
Amman-headquartered International General Insurance (IGI) has announced the appointments of David Anthony and Anwar Al-Jabri as Non-Executive Directors to its Board. Anthony brings 30 years’ experience and has held senior insurance-related positions at ratings agencies and with international banks. He has worked extensively in Europe, the Middle East and North Africa ... Read the full article
Uganda takes major step in de-risking future renewable energy projects
27th July 2018
Uganda has become the first African country to de-risk medium scale renewable energy projects by signing up to the German and African Trade Insurance-backed Regional Liquidity Support Facility (RLSF). RLSF is a joint initiative of the African Trade Insurance Agency - a Pan-African and multilateral guarantor - and KfW with funding ... Read the full article
Growth opportunities remain despite market challenges: Hannover Re CEO Wallin
18th July 2018
Despite ongoing competition and pricing challenges in many areas of the industry, various opportunities for growth remain open to re/insurers, including new lines of business, technological efficiencies, and emerging markets, according to Ulrich Wallin, Chief Executive Officer (CEO) of Hannover Re. Speaking in an interview with Reinsurance News, Wallin explained that ... Read the full article
Munich Re restructures and changes Board responsibilities
17th July 2018
Munich Re has announced that it intends to restructure and reallocate responsibilities on its Board of Management in order to improve business synergies and simplify structures and processes. The company said that the reorganisation will mean larger divisions and the reallocation of units, but no changes to the composition of the ... Read the full article
AXA’s legacy arm acquires majority stake in Emirates Re
17th July 2018
Specialist run-off acquirer and manager AXA Liabilities Managers has signed its 19th acquisition on the external market with the purchase of a majority stake in Dubai-headquartered Emirates Re. “We are delighted to pursue our external development with the acquisition of Emirates Re,” said Sylvain Villeroy de Galhau, Chief Executive Officer (CEO), ... Read the full article
Global non-life premiums hit $2.2tn in 2017, China driving emerging markets: Swiss Re
10th July 2018
Swiss Re’s Sigma report has shown global non-life insurance premiums increased by 2.8% to $2.2 trillion in 2017, slightly above the 10-year-average of 2.1% despite being a further slowdown from the past two years. Premium growth in emerging markets slowed to 6.1% in 2017 while growth in advanced markets remained steady ... Read the full article
Ed appoints Souvik Goswarmi to lead MENA & India Treaty business
4th July 2018
Reinsurance broker Ed has appointed Souvik Goswarmi to its Dubai office to lead Treaty business across the Middle East and North Africa (MENA), as well as India and the Indian subcontinent. Goswarmi starts immediately and reports to Minesh Jani, Chief Executive Officer (CEO) of Ed’s operations across the MENA region. His ... Read the full article
MS&AD enters reinsurance agreement with carriers in Kenya and Mozambique
4th July 2018
Mitsui Sumitomo Insurance Co. (MSI), a member of MS&AD Insurance Group Holdings, has announced that its subsidiary, MSI Company (Europe) (MSIEU), has concluded its strategic alliance agreements to provide reinsurance capacity for ICEA Lion General Insurance Company in Kenya and International Commercial and Engineering Seguros (ICE) in Mozambique. As part of ... Read the full article
Product innovation key to MENA insurance penetration: PartnerRe’s Orlando
28th June 2018
The reinsurance industry needs to support insurers in creating and developing new products to address low insurance penetration in the Middle East & North Africa (MENA) region, according to Salvatore Orlando, Head of Middle East, Africa and Russia at PartnerRe. "Low levels of insurance penetration are a global problem, but one ... Read the full article
Continued growth & profitability expected for MENA markets: Insurance Pulse 2018
26th June 2018
Insurance markets of the Middle East and Northern Africa are expected to outgrow the region’s GDP over the next 12 months, according to senior executives polled in The MENA Insurance Pulse 2018, published by Dr. Schanz, Alms & Company. The report states that personal lines remain a key driver for premium ... Read the full article
SCOR backs solution aimed at improving drought resilience in Ethiopia
26th June 2018
French insurer and reinsurer SCOR has announced that it supports a recently launched insurance solution that leverages technology to improve drought resilience in Ethiopia, called the Satellite Index Insurance for Pastoralists in Ethiopia (SIIPE). The project, which was started by the World Food Programme (WFP) and facilitated by re/insurance broker Willis Towers Watson, ... Read the full article
Advent Underwriting launches political violence rating tool for MENA
25th June 2018
Advent Underwriting, the Lloyd’s specialty re/insurer, has launched a new online pricing and placing tool for low-ticket political violence (PV) business in the Middle East & North Africa (MENA) region. The new rating tool, called PVPlus, was developed in partnership with independent MGA CFC Underwriting, and aims to provide SMEs in ... Read the full article
Allianz planning huge UK insurance acquisition, Aviva and RSA both targets
18th June 2018
A report from The Sunday Times suggests Chief Executive Officer (CEO) of Allianz, Oliver Bäte, has been working with investment bankers for several months as he weighs up options on a list of potential deals. Allianz are said to be interested in pursuing a large UK insurance acquisition, with Aviva and ... Read the full article
Volante secures $900mn capacity deal for new underwriting teams
14th June 2018
Volante Global Limited, a multi-class international managing general agent (MGA) platform, has secured a $900 million treaty agreement with three A+ rated global carriers to provide capacity for nine new underwriting teams. The new teams are scheduled to launch on the Volante platform in the second half of 2018, and will ... Read the full article
Qatar Re suspends facultative underwriting at Dubai practice
11th June 2018
Qatar Re, the Bermuda-based reinsurer and subsidiary of Qatar Insurance Company (QIC) Group, has suspended the writing of all new and renewing facultative business from its branch office in the Dubai International Financial Centre. Facultative reinsurance will continue to be distributed throughout the Middle East & North Africa (MENA) region by ... Read the full article