Indonesia: Insurance industry to see consolidation under higher capital requirements

Published on February 7, 2024
Tougher minimum equity requirements for Indonesian insurers are likely to reduce the number of companies operating in the sector and encourage a healthier competitive landscape, says Fitch Ratings.
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Hannover Re: 2023 operating result hit by “significantly higher” Q4 reserving

February 6, 2024
Global reinsurance firm Hannover Re has warned that when it reports its full-year 2023 results, its operating result for the year will be impacted by a resiliency reserve that has been set “significantly higher” than forecast in the fourth-quarter.Hannover Re sets a property and casualty reinsurance resiliency reserve to balance its business and ensure sufficient resources are reserved for claims.

Asia: Composite insurance pricing in region flat in 2-4Q 2023

February 7, 2024
Composite insurance pricing in the fourth quarter of 2023 in Asia was flat, as was the situation in the second and third quarters of 2023, according to Marsh.