Reinsurance News

In a statement released on 19 Sep, Munich Re announced that the company is making changes to its strategic set-up in the APAC markets to keep pace with dynamic expansion in the region. Consequently, it is expanding the scope of its offices in Tokyo, Singapore and Beijing will be expanded, while certain other office locations such as Kuala Lumpur, Hong Kong and Melbourne, will be downsized or closed altogether.

China Reinsurance (Group) Corporation marked the opening of its first overseas branch in Singapore with a grand opening ceremony on Monday, 25 July, officiated by guests-of-honour, Mr Lawrence Wong, Singapore's Minister of National Development and a member of the MAS Board of Directors, and His Excellency Mr Chen Xiaodong, Ambassador Extraordinary and Plenipotentiary to the People’s Republic of

Over 170 delegates, including a good mix of ceding companies, protection providers (including many SRA members), ILS fund managers, service providers, investors, lawyers as well as regulators, attended the inaugural ILS Asia 2016 Forum organised by Artemis at the iconic Raffles Hotel Singapore on 13 July 2016.  

The Singapore Reinsurers’ Association (SRA) has announced the line-up of its Executive Committee (EXCO) for the 2016/2017 term of office with Mr Alain Flandrin, Chief Executive Officer (Asia Pacific) of Partner Re Asia, being elected as its Chairman to replace Mr Thomas Lillelund who had stepped down following his recen

In a reshuffle of their senior management team, Aspen Insurance Holdings has announced that Stephen Postlewhite, previously CEO of Aspen Re has been appointed CEO of Aspen Insurance following the retirement of Mario Vitale.  Thomas Lillelund, previously Managing Director, Asia Pacific, for Aspen Re succeeds Postlewhite as CEO of Aspen Re.  Lillelund had also served as Chairman of the Singapore Reinsurers' Association since May 2014.

The SRA and the International Underwriting Association of London (IUA) today announced an affiliation partnership that will enable both organisations to better serve their common membership.
 
The maiden issue of the Asia Reinsurance Pulse was launched today at the 13th SIRC, which had attracted a record 1,000 delegates from close to 50 countries.
 
Sponsored by the SRA, the Asia Reinsurance Pulse is a new annual research publication that aims to provide a unique overview of Asia-Pacific’s USD 50 billion non-life reinsurance market.
 
Industry veteran, Mr John Tan, announces his retirement from all executive positions that he held in Asia Capital Reinsurance (ACR) Group on medical advice. He will however remain on the ACR Board in the newly-created non-executive role of Founder and Senior Advisor. Fellow Board Member, Mr Hans-Peter Gerhardt, has been designated to assume the roles of ACR Group Chief Executive and Chief Executive of fully-owned subsidiary, Asia Capital Re, pending regulatory approvals.  
 
The Indonesian Financial Services Authority (Otoritas Jasa Keuangan or OJK) has finalised its set of domestic cession rules that are aimed at "improving and optimising capacity in the country".  The new rules are expected to be largely welcomed by industry players after intensive engagement and feedback gathered from the market, said OJK officials.
 
The long drawn out, and at times acrimonious, merger/takeover saga ends with Partner Re's announcement that it had 'reached a definitive agreement' with EXOR to sell all its outstanding common shares in a USD6.9b all-cash deal, which effectively ends the so-called 'amalgamation of equals' merger with AXIS.