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Swiss Re Corporate Solutions has completed the 51 percent acquisition of Compania Aseguradora de Fianzas (Confianza). 10 November 2014
News
French reinsurer SCOR enjoyed a strong third quarter and first nine months of 2014, as its profits grew and its combined ratio improved. 6 November 2014
Insurance
American International Group (AIG) has seen a solid third quarter as profits increased and the board authorised additional share repurchases of $1.5 billion. 4 November 2014
Insurance
Softening pricing, regulatory change, risk management requirements and catastrophe risks are the biggest concerns for re/insurers in the Asia Pacific market, Connie Wong, managing director-analytical manager, Insurance Ratings, Asia-Pacific Financial Services Ratings, Standard & Poor’s (S&P), told EAIC Today. 4 November 2014
Insurance
US insurer Allstate has appointed Chicago city treasurer, Stephanie Neely, as vice president, treasury. 4 November 2014
News
Tokio Millennium Re (TMR) is planning a further expansion of its presence in the Asian markets to capitalise on the “enormous potential” of the region, Stephan Ruoff, currently deputy CEO and chief underwriting officer of TMR, who will take the reins of the business next April as CEO, told EAIC Today. 3 November 2014
Insurance
Indonesia’s new comprehensive insurance law, which took effect on October 23, adds some restrictions to foreign investment in the sector, but is unlikely to discourage future M&A activity involving international insurers, believes Fitch Ratings. 3 November 2014
Reinsurance
Market participants in Asia face a multitude of challenges that are affecting the market simultaneously, making it very difficult to respond adequately to each one, Moungmo Lee, general manager, analytics, AM Best Asia-Pacific, told EAIC Today. 2 November 2014
Reinsurance
The growth potential of the reinsurance market in Asia is enormous given the relatively low insurance penetration compared with the more established markets of the US and UK, Siew Wai Wan, senior director, insurance, Fitch Ratings, told EAIC Today. 2 November 2014
News
Reinsurance rates in the Asia-Pacific region are now extremely soft with too many players competing for business—but the region will still represent the biggest driver of growth for the industry globally. 2 November 2014
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