SCOR grew its gross premiums up for renewal by 14.3%2 at constant exchange rates to EUR 600 million, with a 4.3% overall increase in pricing.

The bulk of the portfolio renewed on April 1 (64%) is in the Asia-Pacific region, of which Japan and India are the most significant markets (each accounting for approximately 28-29% of total premiums up for renewal):

The decision to hold the ship could impact its cargo, said Jai Sharma, a lawyer at Clyde & Co. “I anticipate that there will be companies that are going to air freight cargo replacements,” he said.

James Kent, Global CEO, Willis Re, said: “Such a solid development of the global reinsurance industry’s capital base would hardly have been expected earlier last year, as the COVID-19 pandemic was gathering pace.  Willis Re’s analysis provides clear evidence of the strength and resilience of reinsurance market capacity.  Reinsurers and insurers alike must contend with the challenges of low interest rates.  But, looking through the turbulence of COVID-19 and nat cat claims, and a declining reliance on reserve releases, there is a clear improving trend in underwriting profitability.”

“Idie’s appointment reinforces our commitment to the A&H space across the region, where we see tremendous opportunities to further serve our brokers and customers.”

Ahmed was instrumental in the rationalisation of Allianz’s reinsurance buying programme, creating a global buying strategy that was more efficient as well as profitable for the group.