ASIAN REINSURANCE CORPORATION

PRESS RELEASE

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.

 

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