Reinsurance News
Asia reinsurance news
Read our Asia focused insurance or reinsurance news and analysis below. The Asia market is a key area of expansion for global insurance and reinsurance players, while also being home to some of the largest companies in the market.
Everest Insurance enters Asia market with Singapore office
24th June 2022
Everest Insurance, the primary division of Everest Re Group, has officially entered the Asian market after receiving regulatory approval from the Monetary Authority of Singapore to operate in country. The entity will be headquartered in Singapore and Senior Vice President and Regional Head of Insurance in Asia Ben Carey will lead ... Read the full article
Fortitude Re closes $4bn transaction with Taiyo Life
31st March 2022
FGH Parent has closed a $4 billion reinsurance transaction between its subsidiary Fortitude Re, a Bermudian legacy reinsurance company, and Taiyo Life Insurance Company (Taiyo Life), a wholly owned subsidiary of T&D Holdings. This transaction marks Fortitude Re’s inaugural reinsurance transaction covering business in Asia. Under the transaction, which is effective as ... Read the full article
Discovery & AIA plan insurtech joint venture in Asia
16th February 2022
South African-founded financial services organisation Discovery Limited has announced plans to establish a pan-Asian health insurtech business with life insurer AIA Group, called Amplify Health. Expected to launch in April 2022, Amplify Health will operate as a join venture in the Asian market, excluding China, Hong Kong and Macau, where Discovery ... Read the full article
CCR Re names Thi Hoang Anh Nguyen as underwriter, Asia
12th January 2022
CCR Re has appointed Thi Hoang Anh Nguyen as an underwriter for Asia. She will report to John Conan, Head of non-life underwriting, Asia & Africa. Nguyen started her career as an underwriter for Vietnam National Aviation Insurance Corporation in Hanoi before joining Willis Towers Watson as accounts manager. She also previously worked ... Read the full article
APAC property market to hit $137.5bn in 2025: GlobalData
10th January 2022
The property insurance industry in Asia-Pacific (APAC) is projected to grow from $85.8bn in 2020 to $137.5bn in 2025, in terms of written premiums, according to data and analytics company GlobalData. A new report predicts the property insurance industry in APAC will grow at a compound annual growth rate (CAGR) of ... Read the full article
Standard Club makes appointments, expands services in APAC
2nd November 2021
Specialist marine and energy insurer Standard Club is expanding its presence in the Asia-Pacific region with some key appointments and an enhanced suite of services. These include the launch of the Coastal & Inland class in Asia and three significant appointments in Hong Kong aimed at strengthening support for members and ... Read the full article
Swiss Re predicts strong digital P&C premium growth in Southeast Asia
25th October 2021
New research by Swiss Re Institute projects that the digital property and casualty (P&C) personal lines market could reach a cumulative $7.5 billion in premiums over the next five years in South and Southeast Asia. Survey results on attitude to buying personal lines insurance in these regions highlighted a unique opportunity ... Read the full article
There’s opportunity to grow in a promising Asian market: Peak Re CEO Hahn
20th October 2021
Despite the impacts of the COVID-19 pandemic, the Asian reinsurance market continues to evolve and the fundamentals are promising and present an opportunity for growth, according to Franz Josef Hahn, Chief Executive Officer (CEO) of Hong Kong domiciled reinsurer, Peak Re. “From an insurance and reinsurance perspective, Asia has been less ... Read the full article
“Our recognition in Europe is growing”: Labuan IBFC’s Jaafar
14th October 2021
Farah Jaafar, CEO of the Labuan International Business and Financial Centre (Labuan IBFC), has asserted that the Centre’s “recognition in Europe is definitely growing,” following an active year for captive growth. 2020 was a busy year for Labuan captive business with 8 new captives formed, totalling 55 captives now licensed by ... Read the full article
APAC reinsurers to continue targeting ILS: Fitch
20th August 2021
Analysts at Fitch Ratings expect that reinsurers in the Asia Pacific market will continue to adopt alternative capital as a funding source through the insurance-linked securities (ILS) market. The rating agency forecasts additional issuance of catastrophe bonds in the coming months after the seven that were issued using Singapore-domiciled vehicles up ... Read the full article
Moody’s improves Japan life outlook to stable
8th June 2021
Moody’s has revised its industry outlook for Japan’s life insurance sector from negative to stable, based on improving capitalization, resilient underwriting profit and a recovering operating environment. The rating agency believes that these factors will enable insurers to maintain their credit strengths over the next 12-18 months, despite lingering threats from ... Read the full article
Himalayan Reinsurance receives operating license in Nepal
2nd June 2021
The Insurance Board, Nepal’s insurance sector regulatory authority, has given Himalayan Reinsurance an operating license, allowing them to conduct business within the country. This makes it the second reinsurer in Nepal, along with Nepal Reinsurance, after it was deemed fit to do so by Chairman of the Insurance Board, Surya Prasad ... Read the full article
Chinese P&C re/insurers turn underwriting loss in 2020: reports
8th January 2021
Chinese property and casualty (P&C) re/insurers generated an underwriting loss of 7.608 billion yuan (USD 1.18 billion) over the first 11 months of 2020, according to reports from regional publication Securities Daily. This represents a decrease of 10.889 billion yuan from the 3.291 billion yuan (USD 510 million) that the sector ... Read the full article
Stable APAC outlook underpinned by resilient growth: Moody’s
23rd December 2020
Moody’s Japan says that its stable outlook for the Asia Pacific re/insurance sector is underpinned by generally strong capitalisation, steady product margins and resilient premium growth. While the pandemic has temporarily disrupted policy sales, Moody’s believes that insurers' premium base is supported by long-duration existing policies. Analsts added that new sales should ... Read the full article
Resilient profits underpin stable Chinese life outlook: Moody’s
21st December 2020
Moody's Investors Service has assigned a stable outlook to the Chinese life insurance industry for 2021, citing resilient profitability and capitalisation. Large recurring premiums, which reflects the industry's earlier efforts to shift its product focus to long-term regular premium policies, will also improve overall income stability, Moody’s said. And business growth could ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
