Africa Specialty Risks (ASR), the developing markets-focused (re)insurance group, has announced that Fitch Ratings has upgraded ASR Re's Financial Strength Rating to 'A-' from 'BBB+'. The outlook is 'Stable'.
The Saudi insurance sector continued to expand in 2025, with gross written premiums increasing by 11% to SAR84.3bn ($22.5bn) compared to 2024, according to the Insurance Authority in its latest flagship yearly report, "Saudi Insurance Market Report 2025".
Gallagher has promoted Mr Andy Winwood to the role of Senior Executive Officer for the Middle East and Africa, subject to regulatory approval.
Abundant insurance capacity and strong competition continue to create favourable conditions for commercial insurance buyers across most major lines of business, according to global insurance broker Aon in its Q2 2026 Global Insurance Market Insights report.
Swiss Re reported that its second-quarter net income for 2026 reached $1.3bn, bringing its first-half net income to $2.8bn. This came as improved earnings across all three business units kept the reinsurer on track to meet its full-year target of $4.5bn. The group's return on equity was 22.7% in the first half, while insurance service result rose to $3.5bn from $3.0bn a year earlier. Swiss Re said it paid more than $17bn in claims during the period while maintaining a strong capital position with an estimated Swiss Solvency Test (SST) ratio of 264% as of 1 July.
Miller, the London-headquartered independent specialist (re)insurance broker, has completed its acquisition of Shields Reinsurance Brokers (Shields), an independent reinsurance broker based in Dubai.
Tysers Singapore has appointed Ms Prantika Sengupta as Director of Marine Claims and Client Relations.
Munich Re Specialty has launched a parametric earthquake insurance product for corporate clients in Japan, that supports recovery and business continuity even when no physical damage occurs.
Gallagher Re, the global reinsurance broking and advisory firm, has appointed Luc Morement as Managing Director, Facultative, APAC.
Aon has appointed Stephen as CEO for Indonesia, effective 3 August 2026, subject to regulatory approval.