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Insurance
Available reinsurance capacity in Asia-Pacific is unlikely to be affected by the recent catastrophe losses in North America; as such, reinsurers will offer a “measured” response in the region, George Attard, head of Aon Benfield Analytics, Asia Pacific, told SIRC Today. 1 November 2017
Insurance
Specialty insurance and risk management solutions provider Ryan Specialty Group has completed the acquisition of the assets and operations of wholesale insurance brokerage Oxford Insurance Services, according to a Nov. 1 statement. 1 November 2017
Insurance
Property/casualty insurer Accredited Surety and Casualty Company (ASC), a subsidiary of Randall & Quilter (R&Q), has stricken an agreement with Forestry Insurance Company for its commercial auto liability business in South Carolina and Georgia. 1 November 2017
Insurance
Risk management provider Artex Risk Solutions is acquiring Chandler Insurance Management, according to an Oct. 31 press release. 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
Reinsurers that attempt to increase rates on programmes in Asia on the back of the recent catastrophe losses in North America risk losing market share to new or emerging reinsurance capital that has so far struggled to gain market share in the region, Stuart Beatty, chief executive, Asia-Pacific, JLT Re, told SIRC Today. 31 October 2017
Insurance
Markel wants to develop deeper partnerships with local cedants across a number of Asian jurisdictions as it looks to grow its bottom line profitably, Matt Cannock, principal officer and managing director of Markel Asia-Pacific, told SIRC Today. 31 October 2017
Insurance
Allianz Global Corporate & Specialty (AGCS) is considering establishing a branch in India as it attempts to manage the growing trend in Asia of protectionist regulatory measures that favour local reinsurers, Mark Mitchell, regional chief executive officer for Asia at AGCS, told SIRC Today. 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
Insurance
Bermuda-based Blue Capital Reinsurance Holdings reported a combined ratio of 455.7 percent for the third quarter of 2017, a significant deterioration compared to the 63.5 percent recorded in the same period a year ago. 31 October 2017
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