The recent wildfires in California have left a trail of destruction with over 15,000 structures destroyed, multiple deaths and displacing over 100,000 people. Estimated economic losses are in the range of USD $130 billion to USD $150 billion. Industry analysts estimate insured losses to vary between USD $20 billion to USD $45 billion, making...
ARB Indonesia both sponsored and participated in the 28th Indonesia Rendezvous, a key event in the regional insurance and reinsurance industry. As part of our commitment to continuously innovate and strengthen relationships and collaboration, we met with numerous friends, clients, prospects and reinsurers. We are pleased to share ARB Indonesia’s activities during this event
We are pleased to share details of ARB Indonesia’s Company Outing 2024 last month in Yogjakarta, Central Java. Not only was the event an appreciation for the staff for all their hard work and efforts but it was very effective in improving teamwork, enhancing friendships and creating positive engagement internally. We also used the...
Excited to share our recent participation in 34th General Arab Insurance Federation (GAIF) Conference 2024 in the beautiful capital of the Sultanate of Oman, Muscat. We were honored to have the opportunity to meet and interact with industry leaders from across the region.
Asia Reinsurance Brokers (ARB) in cooperation with PT Reasuransi Nasional Indonesia (Nasional Re) organized a “Treaty Pricing Training Session” from 13 June 2023 to 15 June 2023. The attendees included Mr Saliya Jinadasa (Senior Divisional Director – Asia Reinsurance Brokers Pte Ltd) as the main speaker at this event, Mr Michael Seward (President Director...
Going Beyond Tradition – Reinsurance Treaty Pricing with Piecewise Pareto Distribution Typically, non-proportional treaty pricing of excess layers in P&C reinsurance is performed with well-known frequency and severity-based approaches using historical experience. For severity, it is a common practice to fit a single statistical distribution to historical claims. Fitting a single distribution to claims...
In our June 2020 Bulletin number 002/ARB-BULLETIN/06/2020 we reviewed the quarterly financial performance of local professional reinsurance companies (IPR) for 2018 and 2019. Based on their latest published 1st Quarter 2020 results, this Bulletin attempts to further graphically depict the individual financial performance of IPR members, particularly in the wake of the Jakarta floods...
AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” from “a-” of General Insurance Corporation of India (GIC Re) (India). The outlook of the FSR has been revised to stable from negative whilst the Long-Term ICR outlook is...
As an insurance company in Indonesia you have a vested interest in the financial health of the local professional reinsurance companies (IPR). To help you better understand the financial performance of the IPR members we have extracted relevant data from their published quarterly financial statements relating to: Solvency or RBC Level Investment Funds Equity...