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Insurance
Blenheim Underwriting Limited (Syndicate 5886) has launched its accident and health and specialty reinsurance divisions as part of its recently approved 2018 business plan, according to a Nov. 1 statement. 1 November 2017
Insurance
India is expected to be among the countries experiencing the highest growth in P&C insurance in the coming years, followed by Saudi Arabia and Indonesia, according to the latest Quarterly InsurTech Briefing Q3 2017 by Willis Towers Watson. 1 November 2017
Insurance
Bermuda-based re/insurer RenaissanceRe reported a net loss of $504.8 million for the third quarter of 2017 as the company had to absorb significant natural catatastrophe losses from hurricanes and earthquakes. 1 November 2017
Insurance
While insurers in many Asian markets are enjoying solid growth, reinsurers are lagging behind in this regard as they also grapple with overcapacity putting downward pressure on rates—but some rate corrections are now expected after the heavy losses in North America, William Ho, head of reinsurance, Asia, MS Amlin, told SIRC Today. 31 October 2017
Insurance
Hurricanes Harvey, Irma and Maria (HIM) serve as another reminder that the re/insurance industry must maintain underwriting discipline, even in the face of such a competitive global market, Kent Chaplin, CEO of Lloyd’s Asia-Pacific, told SIRC Today. 31 October 2017
Insurance
RFIB Group, the international Lloyd’s insurance and reinsurance broker, has launched RFIB (Singapore). The new operation will serve as a hub for the continued development of RFIB’s presence across Asia. 31 October 2017
Insurance
The implications of retro and reinsurance rates moving from a soft to a hard market and how fast such increases could be reflected by cedants in their own tariffs on a direct basis will be the main talking point at SIRC this year, according to Laurent Montador, deputy CEO of CCR Re. 31 October 2017
Insurance
Local developments in China and India have primed both economies for substantial onshore capacity growth, according to a September 2017 Moody’s report covering reinsurance in Asia, China and India are Primed for Onshore Capacity Growth. 31 October 2017
Alternative Risk Transfer
Risk modelling firm RMS has opened a new office in Sydney, Australia. The company said the move is part of its drive to support clients’ expansion in the Australian and New Zealand markets. 31 October 2017
Insurance
Intense competition in Asia-Pacific means any improvement on rates is hard to achieve. These are among the conclusions of a new report, Asia-Pacific Reinsurers Should Increase Rates, But Will They? some of which are summarised here by Philip Chung of S&P Global Ratings. 31 October 2017
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