Corporate Milestones

Corporate Milestones

CORPORATE MILESTONES

Highlights of Asian Re operation

1972 1972
1974 1974
1977 1977
1980 1980
2005 2005
2008 2008
2012 2012
2017 2017

1972

The third session of UNCTAD passed Resolution 42 (iii) – endorsing that a sound national insurance and reinsurance market is an essential characteristic of economic growth and called for regional cooperation.

1974

18 developing countries of ESCAP region accepted in principle the establishment of a regional institution viz: the Asian Reinsurance Corporation

1977

The Agreement was signed by seven countries.

1980

Asian Re commenced operations with an authorised capital of US$15 mn. and paid up capital of US$4.5 mn. from nine countries.

2005

Amendment approved permitting the entry of Associate members. Authorised capital increased to US$ 100 mn.

2008

A.M. Best assigns “B++” (Good) for Financial Strength Ratings and “bbb” for Issuer Credit Ratings with “stable” outlook.

2012

Authorised Capital increased to US$200 mn. Paid up capital increased to US$ 50.9 mn.

2017

Paid up capital increased to US$ 100.85 mn.

CORPORATE BACKGROUND

CORPORATE FINANCIALS

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