ASIAN REINSURANCE CORPORATION
The Asian Reinsurance Corporation (Asian Re) held its Management Board, Council and the Sixth Shareholders’ Assembly meetings on 20-22 June 2012 in Bangkok to adopt and approve the accounts for the year 2011.
Asian Re is an inter-governmental organisation established in 1979 under the aegis of the UN/ESCAP.
The equity holders of the Corporation are ten governments of the ESCAP region (Regular members) and ten leading insurance and reinsurance companies (Associate members).
In 2011, the gross premium of the Corporation was US$ 56.34 mn. and the net premium US$32.26 mn.
During the year there was large-scale floods in Thailand which affected the Corporation’s operating results.
Asian Re’s shareholders resolved to increase authorized capital from US$100 mn. to US$200 mn.
It was also decided that the present shareholders would infuse additional capital of US$100 mn. to further strengthen the Corporation.