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In what is a fairly volatile re/insurance landscape in Asia, international reinsurers should look to share their expertise and experience to help local players understand the benefits of dispersing risk, Richard Chu, senior underwriter credit & surety, Asia Pacific, PartnerRe, told SIRC Today. 2 November 2015
Insurance
Although rates remain almost universally soft, a sense of cautious optimism is entering the market with some chief executives forecasting a “soft landing” in 2016 where declines are not as severe as anticipated and not as steep as they were in 2014 and 2015, says Dennis Sugrue, director, insurance ratings at Standard & Poor’s Ratings Services (S&P). 2 November 2015
Insurance
The explosion and subsequent blaze that hit the chemical storage facility in the port of Tianjin, China, in August, seems destined to be a big talking point at SIRC this week as re/insurers continue to grapple with the potential scale of the loses from the disaster. 2 November 2015
News
Impact Forecasting, Aon Benfield’s catastrophe model development team, is launching new catastrophe models for Malaysia and Jakarta flood at the Singapore International Reinsurance Conference this week. 2 November 2015
News
AM Best has upgraded the issuer credit rating of Asian Re to bb+ from bb and affirmed its financial strength rating of B (Fair). The outlook for both ratings is also now positive. 2 November 2015
Insurance
As some of China’s re/insurers find their feet and settle on a reinsurance strategy Shanghai could develop as another reinsurance hub in Asia over the next few years, just as Singapore has, Moungmo Lee, managing director, analytics, AM Best, told SIRC Today. 1 November 2015
Alternative Risk Transfer
A great deal of education needs to take place across Asia before the used of insurance-linked securities (ILS) truly gains traction in the region, Siew Wai Wan, senior director, insurance, Fitch Ratings, told SIRC Today. 1 November 2015
News
Asia Capital Re has estimated its net loss relating to the 12 August explosion in the port of Tianjin, China, to be approximately $26 million. 30 October 2015
Insurance
Fairfax Financial Holdings saw a fall in its net earnings for the third quarter of the year to $424.8 million, compared with profits of $461.2 million in the third quarter of 2014. 30 October 2015
Insurance
The acquisition of US-based HCC Insurance Holdings by Tokio Marine Holdings has been completed. 29 October 2015
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