Page 10 - Digital Edition SIRC Supplement

CONTENTS 10

10 SPECIAL FEATURE - M&A
M&A activity looks set to continue even after a string of deals announced this year. Mr
Paul Melody, Managing Director, Life Insurance Practice, Asia Pacific, Towers Watson,
shares the drivers behind the M&A activity, and what it takes to achieve success after the
conclusion of a deal.

12 SPECIAL FEATURE - NAT CATS 12
Hurricane Katrina struck the Gulf Coast of the US in August 2005. It remains the
largest-ever windstorm loss and the costliest disaster in the history of the global insurance
industry, causing as much as US$125 billion in overall damages and over $60 billion in
insured losses. Could this type of catastrophic event occur in Asia? We find out from
Allianz Global Corporate & Specialty SE (AGCS).

14 SPECIAL FEATURE – CYBER 14
Messrs Shaun Wang, Mark Terris, and Bradley Schaufenbuel explain how to
objectively evaluate cybersecurity risk and price cyber insurance policies more accurately
in the rapidly expanding digital economy.

16 MARKET REPORTS India
Bangladesh Adapting to tap the enormous
Materialising the concept “Insurance potential
for Everyone”
Mr Nasir A Choudhury of Green Delta Mr K Sanath Kumar from GIC Re speaks
Insurance shares that the low penetration about the enormous potential in the market,
rate in the market means that it is full of possibilities and that and the need for the (re)insurance industry to adapt to the
to grow the insurance industry, insurance companies can do changing scenario.
more by working together
Brunei Indonesia
Opportunities for international Challenges and opportunities – What
reinsurers in the market this means for reinsurers?
While Brunei’s insurance industry is small
and faces some headwinds with its close Swiss Re’s Mr Clarence Wong and Ms
association to the country’s economy, Mr Kolja Klawunn Adeline Chua share that Indonesia’s economy
from the Brunei Insurance and Takaful Association points is resilient despite rising headwinds and the non-life sector
out the opportunity for international reinsurers in the market. outlook remains favourable with reinsurance having a key
China role to play.
New normal, new opportunities
Changing growth trends in the economy have Japan
figured prominently in the media recently Current challenges, opportunities and
but most economists agree that the long-term dynamics
outlook for China is good. With its low insurance penetration,
this is music to the industry’s ears, says Mr Steven Chang of Mr Tomoatsu Noguchi from Toa Re shares
Munich Re China. about the solid results of non-life insurers, the
Hong Kong overseas expansion in search of growth, and the increasing role
Asian reinsurers’ drive to of reinsurance in the promotion of ERM in Japan.
internationalise – The importance of a
strong home base such as Hong Kong South Korea
Over the past 10-15 years Asia’s reinsurance Seeking growth in the new normal
markets have changed beyond recognition. Mr Franz Hahn
from Peak Re shares the importance of a strong home base such While Korea’s insurance market is unlikely
as Hong Kong in Asian reinsurers’ drive to internationalise. to repeat its remarkable growth of the past
decades, there are still plenty of growth
opportunities in the new normal, says Mr Jong-Gyu Won of
Korean Re.

8 SIRC Supplement • November 2015 • www.asiainsurancereview.com