• +60 39 2127273 overseas@transsibre.com
  • Unit Level 13 (A), Main Office Tower, Financial Park Labuan, Jalan Merdeka, 87000 FT of Labuan, Malaysia

News releases

REFERENCE ON THE BUSINESS RESULTS OF TRANSSIBRE OVERSEAS LTD. IN 2018

6 February 2019, Malaysia

TranssibRe Overseas Ltd. preliminary results of activities in 2018 have been summed up.

For the accounting period 435 reinsurance contracts were concluded. All of them are facultative. As before, the Company focuses on classical lines of non-life reinsurance. More than 61% of the total number of the contracts account for property reinsurance, 26% of the contracts refer to marine reinsurance and 10% refer to liability reinsurance, other types 3%.

The premium charged under the incoming reinsurance contracts amounted to USD 1.9 mln. The scope of the incoming business remains stable for the last three years: 2016 USD 1.9mln, 2017 USD 2.1mln. The amount of the paid losses in all lines of business made USD 0.5mln (2017 USD 1.2mln). Paid losses under the facultative contracts for 2018 amounted to USD 0.24mln.

In the structure of invoiced reinsurance premium 67 % accounts for property risks. Marine reinsurance that includes hull, liability of shipowners and cargo comes second. It accounts for 22% of the gross premium. The third place in the Company's portfolio is liability insurance: 10 %. Other types account for 1%.


NIKOLAY MALASHKIN, SENIOR UNDERWRITER OF TRANSSIBRE OVERSEAS, TOOK PART IN MOSCOW MARINE INSURANCE CONFERENCE

30 November 2018, Malaysia

International Annual Conference Marine Insurance in Russia 2018 was held in Moscow on November 29, 2018. It was hosted by the Russian Union of Marine Insurers supported by the biggest local companies in this sphere.

The Forum gathered approximately two hundred representatives of the companies connected with marine insurance: sea carriers, insurers, brokers, service companies, consulting companies etc. Geography of the participants covers 15 countries among them majority of leading sea powers of the world.

Participation of representatives of TranssibRe Overseas Ltd. in the branch conference is extremely useful since marine reinsurance accounts for significant part of the Companys portfolio. Thus, at 2017 year end 21% of GPW of TranssibRe Overseas Ltd. makes marine insurance, cargo included.

Major international insurance conferences were held during this autumn where representatives of TranssibRe Overseas Ltd. took active part. We are confident that this allows to increase brand awareness and establish new business relations.


TOP MANAGERS OF TRANSSIBRE OVERSEAS TOOK PART IN THE SINGAPORE REINSURANCE CONFERENCE

02 November 2018, Malaysia

Every two years the biggest in Asia Reinsurance Forum is held in Singapore. Dmitry Klyagin, Director and Maria Tsareva, Chief Reinsurance Officer took part in the 15th Singapore International Reinsurance Conference, which took place from 29 October to 1 November 2018.

The Reinsurance Forum gathered in Singapore more than thousand representatives of the industry not only from Asia but from other regions as well. Reinsurance Reloaded was the key topic of the conference which reflects changing operating conditions of the global reinsurance.

Participation of representatives of TranssibRe Overseas Ltd. in the Singaporean forum of reinsurers is extremely useful since the Asian market in particular is the core market for our company. Thus, at 2017 year end the portfolio of TranssibRe Overseas Ltd. accounted for more than 80% on the business coming from the Asian countries. Top managers of TranssibRe Overseas Ltd. held many fruitful negotiations with business partners in Singapore.

Major international insurance conferences were held during this autumn where representatives of TranssibRe Overseas Ltd. took active part. We are confident that this allows to increase brand awareness and establish new business relations.


TOP MANAGERS OF TRANSSIBRE OVERSEAS TOOK PART IN THE 49th BADEN-BADEN REINSURANCE MEETING

26 October 2018, Malaysia

Almost half a century, every year at the end of October, a small resort town in Germany Baden-Baden takes the whole color of the world insurance and reinsurance industry. General Director (Principal Officer) TranssibRe Overseas Ltd. Tatiana Belova and Director Dmitry Klyagin took part in the traditional 49th meeting of reinsurers in Baden-Baden, which took place from 21 to 25 October 2018.

Participation of representatives of TranssibRe Overseas Ltd. in the world's leading forum of reinsurers it is extremely useful for a young company. It is here that the results of the reinsurers ' work in the previous year are summed up, the main agreements on the resumption of reinsurance programs for the next year are outlined, new trends in the development of the reinsurance business are discussed. Top managers of TranssibRe Overseas Ltd. many fruitful negotiations with business partners were held in Baden-Baden.

Active participation of representatives of TranssibRe Overseas Ltd. in many leading global and regional forums of insurers is one of the directions in the implementation of the company's development strategy, which allows to increase brand awareness and establish new business relationships.



CHIEF REINSURANCE OFFICER OF TRANSSIBRE OVERSEAS MARIA TSAREVA TOOK PART IN THE INSURANCE CONFERENCE OF CENTRAL AMERICA IN PANAMA

24 October 2018, Malaysia

Maria Tsareva, Chief Reinsurance Officer of TranssibRe Overseas Ltd. took part in the XXVII Insurance Congress of Central America, Panama and The Caribbean which was held on 21-24 October, 2018 in Panama City (Panama).

The Conference was organized by The Panamanian Association of Insurers (APADEA). This tradition is more than 5 decades. This Congress brings together leaders of the insurance and reinsurance industries, insurance brokers, claims analysts and adjusters, professionals and providers engaged with the insurance activity who endeavor to develop their businesses in the region and deepen their knowledge about the challenges and opportunities unique to Latin America.

Apart from the plenary meetings the top manager of TranssibRe Overseas Ltd. held meetings with representatives of insurance and brokerage companies who are our business partners and new companies as well.

Latin America is the promising direction in business model of TranssibRe Overseas Ltd. Our Company has already got partners in many countries of this region. Close contacts has been worked out with the local brokers.

DIRECTOR OF TRANSSIBRE OVERSEAS DMITRY KLYAGIN TOOK PART IN THE GULF INSURANCE FORUM IN UAE

19 October 2018, Malaysia

Dmitry Klyagin, Director of TranssibRe Overseas Ltd. took part in the 15-th Annual Gulf Insurance Forum which was held on 17-18 October, 2018 in Dubai (OAE).

The Forum was organized by Emirates Insurance Association and Gulf Insurance Federation (GIF) under the patronage of H.E. Eng. Sultan Bin Saeed Al Mansouri, Minister of Economy, Chairman of the Insurance Authority. It is one of the most authoritative insurance event in the Arab world. This year it was held under the name of Risk Assessment and Pricing in the Gulf Insurance Sector. In this Forum fifteen hundred representatives of insurance, brokerage and reinsurance companies of the Arab world took part as well as related industries (rating agencies, actuaries, auditors, consulting companies etc.).

Apart from the plenary meetings the leader of TranssibRe Overseas Ltd. held meetings with representatives of insurance and brokerage companies who are our business partners and new companies as well.

Middle East is the key region in business model of TranssibRe Overseas Ltd. This is evident from the fact that the Company has partners almost in all countries of this region. Middle East companies account for one third of the inward reinsurance portfolio at year end 2017.



TOP MANAGERS OF TRANSSIBRE OVERSEAS TOOK PART IN THE REINSURANCE RENDEZVOUS IN MONTE CARLO

13 September 2018, Malaysia

From 8 to 13 September 2018 in the Principality of Monaco for the 62nd time held the main forum of the world reinsurance market - Reinsurance rendezvous in Monte Carlo. Representatives of leading reinsurers, brokers and rating agencies from all over the world gathered here: more than two and a half thousand people from 84 countries. This event allows in one place and in a short time to get a lot of useful information about the current state of the reinsurance market and the prospects for its development.

As in previous years, the Rendezvous was dominated by reinsurance brokers and specialized reinsurers. It is here that the results of reinsurance contracts for the previous year are summed up, the current state of the reinsurance market is analyzed, forecasts of its development for the period of the future renewal of retrocession programs are made.

TranssibRe Overseas was represented at the reinsurance rendezvous in Monte Carlo by Tatiana Belova, CEO and Maria Tsareva, Chief Reinsurance Officer.

During the Rendezvous, TranssibRe Overseas top managers held several business meetings with representatives of partner companies, as well as participated in many official Rendezvous events, where they discussed the latest news and market trends.



TRANSSIBRE OVERSEAS RETROCESSION PROGRAM RENEWAL

02 July 2018, Malaysia

TranssibRe Overseas Ltd renewed its retrocession program of Property and Marine risks.

From 1 July 2018 TranssibRe Overseas Ltd has renewed for a year its two retrocession programs: Property & Engineering; Marine Hull & Cargo.

Limit of obligatory programs on Property & Engineering portfolio protection makes USD 10 mln per risk and event. The program covers fire and allied perils (Business Interruption included), CAR (Machinery Breakdown included), engineering risks. Territory of reinsurance covers Asia, Middle East, Africa, Central and Eastern Europe, the former Soviet Union countries.

The leader of the program on property / engineering risks cover is Canopius, Lloyds syndicate. 95% of the program is placed with Lloyds syndicates with financial strength rating A+ from Standard & Poors Agency.

Retrocession obligatory program limit protecting the Companys portfolio on marine and cargo risks amounts to USD 6 mln or EUR 6 mln per risk. The program covers risks under reinsurance agreements on cargo, marine hull, including shipbuilders risk, shipowners liability, marine liability. Territory of cover is worldwide.

The program is placed in the London (80%) and continental (20%) markets. The leader of the program is Dual Corporate Risks Ltd. (Lloyds syndicates Kiln and TMK rated A+ by Standard & Poors).


DIRECTOR OF TRANSSIBRE OVERSEAS DMITRY KLYAGIN TOOK PART IN THE ONFERENCE IN TUNISIA

29 June 2018, Malaysia

Dmitry Klyagin, Director of TranssibRe Overseas Ltd. took part in the 32nd conference of General Arab Insurance Federation (GAIF) that was held in Hammamat, Tunisia on 24-27 June, 2018.

The event was hosted by GAIF with support of Federation of Tunisian Insurance Association and local reinsurance society. It is the oldest and most respected event in the Arab world since 1964. During last decades it is held once in two years. The Conference gathers together hundreds of representatives of the biggest insurance, brokerage and reinsurance companies of the Arab world as well as related business (rating agencies, actuaries, auditors, consulting companies etc.)

Apart from the plenary meetings the leader of TranssibRe Overseas Ltd. held meetings with representatives of insurance and brokerage companies who are our business partners and new companies as well.

Middle East is the key region in business model of TranssibRe Overseas Ltd. This is evident from the fact that the Company has partners almost in all countries of this region. Middle East companies account for one third of the inward reinsurance portfolio at year end 2017.


CHIEF EXECUTIVES OF TRANSSIBRE OVERSEAS TOOK PART IN FIAR, CONFERENCE OF EAST EUROPEAN INSURERS

17 May 2018, Malaysia

Pavel Raba, Director of Business Development and Maria Tsareva, Chief Reinsurance Officer of TranssibRe Overseas took part in 21st International Insurance-Reinsurance Forum FIAR. The event draws representatives of insurance business from Central and South-Eastern Europe as well as CIS countries.

This year the conference took place from 13 to 16 May in Bucharest (Romania). Approximately 300 representatives of insurance, broking and reinsurance companies as well as related branches (pension funds, actuaries, auditors, consulting companies etc.).

Besides plenary sessions chief executives of TranssibRe Overseas Ltd. held dozens of meetings with representatives of insurance and broking companies which are already our business partners and new companies. The meetings were held inbusiness and inviting atmosphere.

East-European region falls within the scope of interests of TranssibRe Overseas Ltd. The Company plans to extend cooperation with local insurers and brokers and direct contacts will contribute greatly to this. Direct contact is the best way to do this.


LEADERS TRANSSIBRE OVERSEAS PARTICIPATED IN THE CONFERENCE OF INSURERS IN EAST ASIA IN THE PHILIPPINES

10 May 2018, Malaysia

Director Of TranssibRe Overseas Ltd. Dmitry Klyagin and Pavel Raba, development Director, took part in the 29th East Asia insurance Congress, which was held on 6-9 may 2018 in Manila, the Philippines.

The event was organized by Philippine Insurers and Reinsurers Association (PIRA) and Philippine Life Insurance Association, Inc. (PLIA) supported by Asia Insurance Review, the region's largest industry publication. This is the oldest and most authoritative insurance event in Asia, which takes place every two years since 1960. It gathers hundreds of representatives of the largest insurance, brokerage and reinsurance companies, as well as enterprises of related industries (rating agencies, actuaries, auditors, consulting companies, etc.).

In addition to participating in plenary sessions, executives TranssibRe Overseas Ltd. we held dozens of meetings with representatives of insurance and brokerage companies, both our business partners and new ones. For these purposes, was leased to the Desk. The meetings were held in a businesslike and friendly atmosphere.

The East Asian region is the core business strategy of our company. TranssibRe Overseas Ltd. for three years of existence it was succeeded to gain trust among local insurers and brokers. This is evidenced by the presence of our company business partners in almost all countries of the region.

Meeting with representatives of broker Protection, Bahrain 


TATYANA BELOVA, CEO OF TRANSSIBRE OVERSEAS, MADE A BUSINESS TRIPE IN CZECH REP.

30 April 2018, Malaysia

On 25-27 April, 2018 Tatyana Belova, CEO of TranssibRe Overseas Ltd., was on a business travel to Prague, Czech Republic. In the course of the trip she visited offices of few local insurance and broking companies. The aim of the visit was to resume cooperation with participants of the Czech insurance market.

The meetings were held with top officials of the companies which indicates the high level of confidence to TranssibRe Overseas Ltd. As a result of the negotiations ways to expand cooperation have been outlined. In particular, reinsurance capacity of TranssibRe Overseas Ltd. is planned to be used to protect portfolio in a new retail insurance project worked out by the local broker and insurance company.


TRANSSIBRE OVERSEAS LTD. HAS UPDATED ITS WEBSITE

14 March 2018, Malaysia 

TranssibRe Overseas Ltd. presents to its partners a new design and structure of its website. It can be found at the same address (URL: www.transsibre.com). The new site has an improved design, built on one of the most popular platforms now. Perhaps the main feature of the site is a simplified structure of information that allows you to get to the necessary information to the reader no more than three clicks.
The home page of the site displays the main sections that can be useful to our partners in the first place. Namely: our reinsurance capacities, the list of top managers and underwriters, key financial performance of the company for the last period, etc.
Also on this site you can find all the registration documents of the Company, which are necessary for establishing business relations with new partners. It also lists all the contacts for which you can contact the company.
We hope that the new website will be appreciated by our business partners. 


ACCORDING TO RESULTS OF 2017 TRANSSIBRE OVERSEAS LTD COOPERATED ON REINSURANCE WITH COMPANIES FROM 37 COUNTRIES OF THE WORLD.

21 February 2018, Malaysia

According to preliminary business results of 2017 TranssibRe Overseas Ltd. cooperated on risk reinsurance with more than 120 insurance companies from 37 countries. In total more than 1200 reinsurance agreements were concluded.

Major target markets are countries of Middle East which account for 36% of gross collection in facultative business. The second largest region is South Asia. It accounts for 28% of incomes for 2017. The third in order of importance region is South-East Asia, 21.5% premium came from there. Besides, TranssibRe Overseas Ltd. cooperated with companies from Europe, Africa, Latin America and Oceania. If to take separate countries the five of leaders on premium includes UAE, Bangladesh, Phillipines, Lebanon and Vietnam.

TranssibRe Overseas Ltd. energetically expands geographical boundaries of its business. The company enters the new markets mainly with assistance of the local reinsurance brokers who are savvy to the regional market.

REFERENCE ON THE RESULTS OF TRANSSIBRE OVERSEAS LTD. IN 2017

7 February 2018, Malaysia

TranssibRe Overseas Ltd. preliminary results of activities in 2017 have been summed up. The premium charged under the incoming reinsurance contracts amounted to USD 12.1 mln. The amount of paid losses in insurance cases reached USD 1.2mln.

In 2017, 1,242 reinsurance contracts were concluded, which is one and a half times higher than the previous year. More than 87 % of the total number of contracts is accounted for property reinsurance. Almost 100 % of the facultative reinsurance contracts.

In the structure of premiums for facultative reinsurance of property risks is more than 72 %. The second most important type is marine reinsurance, which includes marine hull insurance, liability of shipowners and cargo. It accounts for 21% of gross premiums. The third place in the company's portfolio is the insurance of livestock: 4 %. On the other types account for less than 3 %.

As at 31 December 2017, equity amounted to USD 9.397mln, which is 42 % more than the same date a year earlier. Over the past year, the chartered capital was increased from USD 3mln to USD 5mln. The balance sheet total (total assets) at the end of 2017 was USD 12.444mln.


MIKHAIL GRISHIN, CHAIRMAN OF BOARD OF DIRECTORS, TRANSSIBRE OVERSEAS LTD, TOOK PART IN INDIA INSURANCE RENDEZVOUS.

26 January 2018, Malaysia

Mikhail Grishin, Chairman of Board of Directors, TranssibRe Overseas Ltd, took part in XI India Insurance Rendezvous which took place on 17-19 January 2018 in Mumbai. As before the conference was arranged by mainstream media in insurance matters in the region Asia Insurance Review jointly with leader of the Indian insurance market GIC Re.

The main topic of the present conference was defined as The New World of Reinsurance in India. This year number of participants of the Indian Rendezvous rose to above 700 people. They represented more than 40 countries of the world mainly of the Asia-Pacific Region.

Within the framework of the conference the leader of TranssibRe Overseas Ltd. held about ten business meetings with representatives of the Indian and other foreign insurance and broking companies. The meetings were held in warm ambience.