Indonesia: Non-life insurance market hit by rising reinsurance counterparty credit risk

Published on October 10, 2023
Heightened reinsurance credit risk and potential pressure on underwriting margins owing to rising reinsurance costs and more-restrictive coverages have led to AM Best to maintain a negative outlook
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Caribbean insurers face profit pressure due to challenging reinsurance renewals: AM Best

October 9, 2023
Caribbean domestic insurers are grappling with a challenging reinsurance renewal season this year, as per a recent report by AM Best.The region has experienced a reduction in reinsurance capacity between 10% and 15% in 2023, primarily driven by factors such as increased non-modeled events in the United States and Europe, high interest rates, and a strong dollar for European reinsurance carriers.Th

Japan: Life insurers' ordinary profits dive by around 20%

October 10, 2023
The aggregate ordinary profits of Japan's life insurance industry decreased by a significant 20.9% in the fiscal year ended 31 March 2023 (FY2022) from FY2021 to JPY2.5tn ($16.76bn), The Toa