Large losses, such as increased frequency and severity of extreme weather, could increase underwriting volatility at China Re Group, according to S&P Global Ratings (S&P).
PICC Reinsurance is expected to increase its premiums by 8%-10% over the next two years, says S&P Global Ratings (S&P) in its report titled "Asia-Pacific Reinsurance Sector Update - Improvements Are Underway".
Continuous portfolio overhaul and tightening risk selection for new business could lead to moderate growth appetite in Hong Kong-based Taiping Reinsurance over the next two years, says S&P Global Ratings (S&P).
China Reinsurance Group (China Re) has reported a net profit of CNY2,411m ($337m) for the first nine months of 2024. The company's insurance income stood at CNY9,539m for the period.
With two months left for all insurance companies to implement the China Risk-Oriented Solvency System Phase II, the solvency of the property and life insurance industries has improved significantly.
M&As are expected to dominate the next phase of growth in the Indian insurance industry, according to a report by the Confederation of Indian Industry (CII) and professional services firm KPMG in India.
Korean Reinsurance will likely maintain largely stable underwriting performance over the next two years, says S&P Global Ratings. It expects the reinsurer's combined ratio to be 93%-95%, based on IFRS 17, over the next two years.
2024 is likely to be good for Africa Re, which has recovered from the losses of 2022, according to Mr Corneille Karekezi, group managing director and CEO of the reinsurer.
While Turkish insurers demanded increased reinsurance capacity and lower prices at the 2024 Baden-Baden Reinsurance Meeting held last week, reinsurers were cautious about providing capacity and generally demanded higher price.
S&P Global Ratings (S&P) has identified several major trends and risks in the Asia-Pacific reinsurance sector in its report titled "Asia-Pacific Reinsurance Sector Update - Improvements Are Underway".