Magazine

Read the latest edition of AIR and MEIR as an Interactive e-book

Oct 2023

Contents

October-Home
Editor's Letter
Magazine article aboutDiversity-in-action

Diversity in action

Reinsurance
Magazine article aboutThe-full-Monte-Carlo-

The full Monte (Carlo)

The reinsurance environment is still very fragile

SIRC will explore global reset

Flooding remains a threat in Asia

Insurance
Magazine article aboutInsuring-the-uninsurable

General

Insuring the uninsurable

Nat CAT communication can bridge the protection gap

Record rains and flooding impact South Asian economies

Nat CAT rates in China likely to go up despite underinsurance

Addressing Nat CAT risks and protection gaps in Asia

Plenty of opportunities for motor insurers despite rising claims

Life & health

Insurers take mental health seriously

Mental health coverage remains poor in Malaysia

Nepal: Mental health challenges aplenty

Singapore: Mental health stigma still a problem

Thailand: Mental healthcare and changing insurance landscape

View from India: Mental health - Indian insurers need to take bold initiatives

The changing face of wealth

Market Profile
Magazine article aboutIndonesia-s-insurance-regulator-gives-takaful-a-nudge

Indonesia

Indonesia's insurance regulator gives takaful a nudge

Indonesian non-life insurers expected to achieve higher annual increase

Life industry in overdrive

General insurance performance is promising

Takaful sector set to continue rapid growth

Risk
Magazine article aboutPreparing-for-catastrophe

Preparing for catastrophe

The importance of assurance

China
Magazine article aboutChina-s-mental-health-sector-awakening

China's mental health sector awakening

China's work culture impacts its mental health

Australia
Magazine article aboutA-customer-a-broker-an-insurer-and-a-reinsurer-walk-into-a-panel

A customer, a broker, an insurer and a reinsurer walk into a panel

What 'good' looks like in claims handling

Australian Insurance Industry Awards winners 2023

Notebook
Magazine article aboutUnderstanding-the-risks-of-AI

Understanding the risks of AI

Generative AI for insurers

News

Asian

India: Half of policyholders fail to renew life plans in last five years

Pakistan: Regulator holds roundtable to discuss strategic direction for insurance sector

Taiwan: Three local life insurers fall short of solvency standards

Risk

Climate change exacerbates risk of extreme wildfires 25%

Supply chains remain vulnerable to geopolitical risks

Average annual Nat CAT losses to touch new high

Product Bites

Swiss Re partners with Income Insurance to launch Singapore cancer insurance product

CPIC Life Hong Kong launches new whole life insurance product

SBI General Insurance India launches comprehensive health insurance plan

Great Eastern Singapore launches standalone EV insurance plan

Diary
People on the move

People on the move

News

Asian

India: Half of policyholders fail to renew life plans in last five years

Nearly half (47%) of insured individuals in India said that they did not renew their insurance policies in the last five years as they had invested in other financial assets or savings as a means to ensure financial security without giving due consideration to the expenses in case of financial and medical emergencies, according to the findings of a study by SBI Life Insurance, conducted in collaboration with professional services firm Deloitte.

Pakistan: Regulator holds roundtable to discuss strategic direction for insurance sector

The Securities & Exchange Commission of Pakistan (SECP) has organised a roundtable discussion to shape the strategic direction of the insurance sector in Pakistan.
 

Taiwan: Three local life insurers fall short of solvency standards

The Financial Supervisory Commission (FSC) has voiced concern over the health of three domestic life insurers after they released their financial statements for the first six months.
 

Risk

Climate change exacerbates risk of extreme wildfires 25%

Climate change aggravates the risk of fast-spreading wildfires by an average of 25% as compared to pre-industrial era according to a new study.
 

Supply chains remain vulnerable to geopolitical risks

While energy transition requires a dramatic increase in the supply of critical materials, their supply chains remain vulnerable to a range of geopolitical risks according to a new report by the International Renewable Energy Agency (IRENA).
 

Average annual Nat CAT losses to touch new high

The global modelled insured average annual loss from Nat CAT events is $133bn, a new high captured in the latest analysis using Verisk’s extreme event solutions models.
 

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