Peak Re has appointed Mr David Menezes as chief risk officer. His responsibilities include ensuring regulatory and legal compliance, a comprehensive understanding of risks and exposures and safeguarding the company's financial strength. He joined Peak Re in 2016 and has been serving as deputy chief risk officer since 2022.
Chedid Re Global Operations, the reinsurance broker network of investment group Chedid Capital, has appointed Mr Vincent Vandendael as independent non-executive director.
China's Ping An Insurance is considering issuing a convertible bond worth up to $5bn, reported Reuters quoting two sources with direct knowledge of the matter.
The Institute of Risk Management (IRM) has appointed Ms Victoria Robinson as head of partnerships for Asia. In her new role, she will actively engage with stakeholders to drive IRM's efforts to expand its presence and impact across the region.
Nat CATs are becoming frequent and severe because of climate change. The Philippines, having been identified as one of the most vulnerable countries to the effects of climate change, is at the forefront of facing these threats. The rising sea level and extreme weather events are just some of the challenges the country faces.
African countries saw 15 credit rating downgrades and only 4 upgrades to their sovereign bonds last year, says leading specialty (re)insurance group Chaucer in a blog.
The Financial Supervisory Commission (FSC) will introduce an additional phase of localisation and transitional measures in the adoption process of TW-ICS (Insurance Capital Standard), to facilitate insurers' smooth integration of the TW-ICS that is to be implemented with effect from 2026.
The board of directors of Saudi Reinsurance Company has recommended an increase in the company's capital by issuing 26,730,000 new ordinary shares (representing 30% of the company's current capital) with a nominal value of SAR10 ($2.67) per share, with suspension of preemptive rights, at an offer price of SAR16 per share.
Fitch Ratings say that it ranks the company profile of Cathay Life and Fubon Life as 'Most Favourable' among several life insurers in a peer review. The other insurers in the peer review have a 'Favourable' company profile.
The Insurance and Social Security Supervisory Authority (ACAPS) has carried out a third series of tests for Pillar One of its proposed Risk-Based Capital (RBC) system and the model is now stabilised, according to its president, Mr Abderrahim Chaffai.