The insurance industry, including takaful, grew by 4% to DZD48.4bn ($359.6m) in 1Q2024 in terms of overall revenue (direct and reinsurance acceptances), according to provisional data from the National Insurance Council (CNA).
Aon has appointed Mr Peter Cheesman as head of analytics for risk capital in APAC. His new role includes APAC commercial risk, and he will take it on in addition to his current responsibilities as head of analytics for reinsurance in APAC.
Howden, a global insurance intermediary group, has entered the Japanese market, launching Howden Re Japan and an insurance-linked securities (ILS) partnership with Keystone ILS Capital.
Reinsurance Group of America (RGA), a leading global life and health reinsurer, today announced it has reached an agreement with Tongyang Life Insurance Company for an RGA subsidiary to reinsure a KRW200bn ($144.35m) in-force block of life policies through coinsurance.
IAG, one of Australia's biggest insurers, has purchased reinsurance protection to mitigate natural perils volatility for the next five years, alongside securing adverse development protection for its A$2.5bn ($1.7bn) long-tail reserves.
London-headquartered Africa Specialty Risks (ASR), the pan-African and Middle East focused reinsurance group, has officially opened its Dubai office, its first in the Middle East.
Mid-year renewals have further consolidated the positive trends at 1 January and 1 April 2024, setting the stage for a more competitive reinsurance market in 2025, said Aon, a leading global professional services firm providing a broad range of risk, retirement and health solutions.
Argenta Holdings yesterday announced that the Sydney office of its service company, Argenta Underwriting Asia, which operates on the Lloyd's Australia platform, will close with immediate effect.
The GST Council of India, chaired by Finance Minister Ms Nirmala Sitharaman, has clarified that no tax will be levied on co-insurance premiums and reinsurance commissions under the GST law.
Australian Reinsurance Pool Corporation (ARPC) is in the process of reviewing the current Cyclone Reinsurance Pool premium rates and is considering minor changes that would be applicable from 1 April 2025.