China Re

Aon structures and places first Hong Kong cat bond for China Re subsidiary

Aon Securities has structured and placed a $30mn typhoon cat bond sponsored by a subsidiary of China Re, in what is thought to be the first cat bond to be issued from Hong Kong.

China Re expects ~65% jump in H1 profit

State-backed China Re estimates that its net profit for the first half of 2021 will rise by 55-65 percent on the prior-year period, with the increase driven by improved underwriting within its international division.

AM Best goes positive on China Re’s international expansion

China Re has had the outlook on its “a” issuer credit rating changed from stable to positive and its A financial strength ratings affirmed by AM Best as the agency highlighted the group’s international expansion with its 2019 acquisition of Lloyd’s platform Chaucer.

China Re predicts up to 45% profit boost ahead of H1 results

China Re expects to realise estimated net profits of up to 2.33bn yuan ($331.5mn), or earnings per share of 0.05 yuan, for the first half of 2019, representing an increase of approximately 35 to 45 percent compared to H1 2018.

Sutcliffe to lead Chaucer underwriting in Dublin as syndicates merge

Specialty insurer Chaucer has appointed the active underwriter of its Syndicate 2088, Jonathan Sutcliffe, to the role of head of underwriting at Chaucer Dublin, as plans to merge the carrier’s two Lloyd’s operations progress.

Mapfre and China Re collaborate on Belt and Road project insurance

Spanish (re)insurer Mapfre and Hong Kong-listed carrier China Re have penned an agreement to collaborate on insuring investments related to China’s Belt and Road Initiative (BRI).

China Re completes acquisition of Chaucer’s Australian and Irish subsidiaries

Hong Kong-listed carrier China Re has completed the acquisition of two of Chaucer Holdings’ subsidiaries after receiving regulatory approval in the jurisdictions.

Cardiff City to claim Sala deal not legally binding: reports

Cardiff City’s Lloyd’s insurers led by China Re could be in for a reprieve if the English Premier League (EPL) club successfully claims the deal to buy Emiliano Sala from Nantes for £15mn was not legally binding.

Chaucer teams with marine insurtech Concirrus

Lloyd’s specialty insurer Chaucer has partnered with marine focused insurtech, Concirrus, to use its data analytics platform.

China Re launches Lloyd’s renewable energy consortium

State-back reinsurer China Re has launched a renewable energy reinsurance consortium at Lloyd’s which will focus on cover for the construction and operation of offshore wind farms in mainland China.

XL Catlin reinsures China Re on missing Premier footballer Sala

XL Catlin is bracing itself to absorb losses from China Re’s lead market share of the circa £15mn personal accident loss on Emiliano Sala, who is feared to have died in a plane crash over the English Channel, The Insurer can reveal.

Lloyd’s China shrinks by 30 percent in one year

Premiums written on the Lloyd’s China platform have shrunk by 30 percent following the retrenchment by a number of syndicates in the past year.

China Re confirms $950mn Chaucer acquisition

China Re has confirmed its acquisition of Chaucer in a deal that will see the Lloyd’s syndicate’s current owner, The Hanover, walk away with $950mn unless this year’s catastrophe losses exceed expectation.

After the storms... (comes the M&A surge...)

2017 will be remembered for the brutal roll-call of major cat events including Hurricanes Harvey, Irma and Marie as well as the wildfires in California.

China Re trumps PE firms to lead $1bn Chaucer auction

State owned reinsurer China Re is in pole position to acquire the up-for-sale Lloyd’s insurer Chaucer at a valuation of around 1.4x net tangible assets.