Reinsurance: SCOR's P&C profitability restored; L&H earnings under pressure Global reinsurer SCOR's P&C results are to remain strong in 2024 and 2025, says Fitch Ratings. However, the L&H results are expected to be negative in 2024, but to recover in 2025.
Aon has appointed Mr Simon Clapham as CUO for Aon Underwriting Managers (AUM).
Amid the growth in demand for reinsurance, driven by four major transitions - climate, energy, digital, and demographic - Singapore will reinforce its status as Asia's leading reinsurance hub through several approaches, according to Singapore deputy prime minister, minister for trade and industry and chairman of the Monetary Authority of Singapore (MAS) Gan Kim Yong.
Global ESG sukuk issuance is expected to continue rising over 4Q24-2025, driven by investor demand, funding and diversification goals, and government sustainability initiatives in some Muslim-majority countries, Fitch Ratings says.
AM Best's population of global reinsurance companies posted a return on equity (ROE) of 22% in 2023, a five-year high, driven mainly by a turnaround in unrealised losses from the previous year and strong underwriting performance.
The Monetary Authority of Singapore (MAS) has announced the establishment of the Global Finance &Technology Network (GFTN) to strengthen Singapore as a global FinTech hub and enhance global connectivity for impactful innovation in financial services.
While life insurance agents should know their products and be transparent about the terms of a policy, empathy is key when it comes to connecting with a prospective client.
Prudential has appointed Mr Patrick van Heerde as chief partnership distribution officer, effective 4 November. In his new role, he will spearhead Prudential's bancassurance businesses across its 24 markets in Asia and Africa.
The International Group of Protection and Indemnity Clubs (IG) is expected to increase rates by an average of close to 5% in 2025, similar to the increase during the renewals in 2024, according to S&P Global Ratings.
Global marine insurance premiums in 2023 totalled $38.9bn - a 5.9% increase over 2022, according to the International Union of Marine Insurance (IUMI).