IPMI Magazine Travel Insurance, Private Medical and Health Insurance News LONDON, 6 October 2011. ACR Named “Reinsurance Company of the Year” Singapore, September 9, 2011 – Asia Capital Reinsurance Group (ACR), a panAsian reinsurer, is pleased to announce that it has been named “Reinsurance Company of the Year” at the internationally recognised Worldwide Reinsurance Awards 2011. The award was presented to ACR at the awards gala ceremony in London on 7 September, 2011. ACR is the first reinsurer that is based in Asia, to receive the “Reinsurance Company of the Year” award.
In determining ACR’s win, the judging panel noted that “An enviable depth of knowledge about the markets in which it operates has allowed Asia Capital Reinsurance Group to flourish, and this year’s award is a testament to its success.” ACR now ranks among the top 50 global reinsurers, and the judging panel highlighted “the company’s confidence in negotiating the increasing sophistication and complexity of Asia’s reinsurance requirements in recent years”. ACR is humbled and encouraged by this acknowledgment from the industry. As a growing company, its commitment to establish a sustainable reinsurance platform for Asia has been recognised. Among its achievements, ACR has recorded compound double-digit growth in Gross Written Premiums over the past few years, kept in tune with changing market needs as well as actively supported the building of industry talent pool and expertise in Asia.
This is ACR’s second win within five years from the Worldwide Reinsurance Awards – the company was named 'Company Launch of the Year' in 2007. The Worldwide Reinsurance Awards recognise outstanding achievements and excellence across all fields in the industry. Recipients of the Awards are chosen from entries all over the world and are determined by a distinguished judging panel of top industry professionals.
Asia Capital Reinsurance Group Pte Ltd (ACR) has an exclusive focus on providing clients reinsurance solutions for large and specialist risks in the pan-Asian region. Initially capitalised at US$565 million, ACR is headquartered in Singapore, with a branch in Hong Kong and representative offices in India, Japan, Korea and Taiwan. Rated “A-” for its financial strength by A.M. Best and Standard & Poor’s, ACR offers a combination of strong Asian dedicated capacity, global underwriting expertise and in-depth knowledge of the Asian insurance markets. ACR and its associated companies Asia Capital Reinsurance Malaysia, ACR ReTakaful MEA and ACR ReTakaful SEA together have a strong network in Asia and aggregated shareholders' funds of more than US$1 billion. All three associated companies hold A- (Excellent) ratings from A.M. Best. For more information, please visit www.asiacapitalre.com
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