The Singapore Reinsurers’ Association (SRA) has announced that Mr Marc Haushofer, Chief Executive Officer, Asia Pacific of Validus Re will succeed Mr Alain Flandrin, Chief Executive Officer (Asia Pacific) of Partner Re Asia as its Chairman with effect from 1 January 2017.
In a statement released on 28 Oct, Swiss Re revealed that it has entered into an agreement as sole reinsurer to provide natural disaster protection to seven prefectures in Guangdong province, in partnership with the People's Insurance Company of China (PICC) in 2016. The pilot programme helps protect China's most prominent economic hub against the financial impact of natural disaster risk, with the first payout already triggered after super-typhoon Haima made landfall in Shanwei on 21 Oct 2016.
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 China and the Republic of Singapore.
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 recent appointment as CEO of Aspen Re.
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 relationship will enable a broader range of services for its member companies with offices in both underwriting hubs. Together the IUA and SRA will cooperate to provide enhanced research facilities, improved statistical data and responses to regulatory developments affecting their respective international (re)insurance markets.
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.