Affinity Reinsurance (Mutual aid and Small-Amount Short-Term Insurance)
Simon Re is currently providing reinsurance services for around 30 insurer clients of SASTI, mutual aid and guaranty insurance in Japan and Korea.
Japan has become an arena of competition with some 100 SASTI insurers and a multitude of mutual-aid and guaranty insurers serving various risk guarantee products encompassing housing, pet, cost, earthquake, life, and insurtech.
South Korea, with some 150 mutual-aid insurers up and running now, is witnessing a brighter future ahead, expecting more private sector mutual-aid insurers in a freer insurance market and introduction of SASTI insurers following revised Korean Insurance Law.
Simon Re is making a concerted effort with its sister consulting firm specializing in mutual-aid and SASTI insurance to cater to various clients with highly specialized services, seeking to achieve maximized value for clients and lasting growth of its own.