The new hire left Asia Capital Re at the end of last year.
This follows news of a rating downgrade following its purchase by Catalina Holdings.
Asia Capital Re has improved its underwriting discipline and is in good shape to achieve stable growth over the next two years, according to rating agency S&P Global Ratings (S&P), which has affirmed the reinsurer’s financial strength rating at ‘A-’, and maintained its outlook for the Singapore-headquartered reinsurer at ‘Stable’.
Recent catastrophe events in Asia are likely to stabilise rates in the upcoming renewals and make any significant rate reductions unlikely, Soeren Soltysiak, chief underwriting officer, treaty, Asia Capital Reinsurance Group, told SIRC Today.
Asia Capital Reinsurance Group (Asia Capital Re), a wholly owned subsidiary of ACR Capital Holdings, has bolstered its underwriting and management team while filling certain leadership positions for its treaty, facultative and specialty business.
Asia Capital Reinsurance Group has appointed Hue Yann Wei as chief executive officer of its subsidiary, Asia Capital Reinsurance Malaysia (ACR Malaysia).
The acting chief executive of Asia Capital Re (ACR) has confirmed that the company has made a joint decision with Shenzhen Qianhai Financial Holdings and Shenzhen Investment Holdings to terminate its $1 billion sale—but he stressed that it is business as normal for the reinsurer.
ACR Capital Holdings has appointed Bobby Heerasing as deputy group chief executive and deputy chief executive of its fully owned subsidiary Asia Capital Re.
Risk Solutions group ACR Capital Holdings has completed the acquisition of its Asia Capital Re Malaysia and ReTakaful subsidiaries.
Two of the major rating agencies have reaffirmed the financial strength rating of Asia Capital Re in the aftermath of its parent, ACR Capital Holdings, being acquired by Chinese investment companies Shenzhen Qianhai Financial Holdings and Shenzhen Investment Holdings.