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TMR plots Asia expansion as it grows global footprint
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
News
Too much competition pushes rates down in Asia
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
Insurance
EAIC talking points to reflect diversity of region’s markets
Insurance development in East Asia is not homogeneous as is the case in some other markets such as West Europe or North America, and this is reflected by the theme of the 27th East Asia Insurance Congress (EAIC) in Taipei, two members of the congress’ organisational committee told EAIC Today.   2 November 2014
Reinsurance
Governments are taking the lead
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
Competition has driven rates to a plateau
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
Insurance
Axis Capital profits double
The profits of Bermuda-based Axis Capital more than doubled in the third quarter of 2014 as it benefitted from low catastrophe losses and portfolio diversification.   30 October 2014
Insurance
SCOR appoints IR head
SCOR has appointed Bertrand Bougon, previously deputy head of cash & capital management, as head of investor relations and rating agencies.   29 October 2014
Insurance
AJG posts strong organic growth for Q3
Arthur J. Gallagher (AJG) enjoyed strong growth in the third quarter of 2014, as the broker saw solid organic growth in its combined brokerage and risk management segments.   29 October 2014
Insurance
Strong underwriting controls are paramount: S&P
Maintaining underwriting and pricing controls will be vital for re/insurers going forward if they wish to improve their enterprise risk management (ERM) scores, according to two analysts at Standard & Poor’s (S&P) rating services, who spoke to PCI Today.   28 October 2014
Insurance
Reinsurers will work hard to rid negative outlook
Rating agency AM Best recently revised its outlook for the reinsurance sector to negative, citing the ongoing market challenges that will hinder potential positive rating outlooks and upgrades, potentially resulting in negative rating pressure.   28 October 2014

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