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General Insurance Company of the Year - 21st Asia Insurance Industry Awards 2017: Apollo Munich Health - This Award inspires us to reach new milestones
Awards are great! They are a mark of recognition given in honour of an achievement! Awards enhance a company’s brand reputation, instil confidence in customers about the quality and professionalism, and help employees take pride in their work.

Source : AIR | 01 Jan 2018
HDI seeks to diversify Asian business
As a leading industrial insurer in Europe, HDI Global now also wants to increase its foothold in Southeast Asia, says Managing Director of HDI Global Singapore Graham Silton.

Source : AIR | 01 Jan 2018
ASEAN's insurance leaders convene to foster greater collaboration
The 43rd ASEAN Insurance Council Meeting and the 20th ASEAN Insurance Regulators Meeting were held in Vientiane, Laos, in late November where all 10 insurance associations as well as regulatory bodies of Southeast Asia convened to discuss ways to strengthen cooperation and capacity building measures.

Source : AIR | 01 Jan 2018
ASEAN disaster management centre to widen its role
The Association of Southeast Asian Nations (ASEAN) is working on appointing the ASEAN Coordinating Centre for Humanitarian Assistance on Disaster Management (AHA Centre) in Indonesia as the regional body to respond to disasters within and outside of Southeast Asia, said Singapore Minister for Home Affairs and Minister for Law K Shanmugam.

Source : AIR | 01 Oct 2017
China's Belt & Road Initiative: Opportunities and risks for ASEAN
The Belt & Road (B&R) Initiative will provide a boost for international trade and also for insurance. Dr Shen Yiming of Marsh explores.

Source : AIR | 01 Oct 2017
ASEAN at 50: A role for insurance
As the ASEAN bloc in Southeast Asia marks 50 years of existence, Mr Raj Juta of Deloitte believes the region’s insurance future will be defined by its success in fostering even closer regional cooperation through public-private partnerships under the vision of the AEC and its ability to deliver innovative digital solutions.

Source : AIR | 01 Nov 2017
Can private-public partnerships in insurance fill the ASEAN infrastructure gap?
Ms Evelina F. Pietruschka, Secretary General of ASEAN Insurance Council, looks to see if the insurance industry in ASEAN can play a prominent role to tackle the infrastructure gap in the region through strategic participation in private-public partnerships.

Source : AIR | 01 Nov 2017
Echo Re targeting more Asian business
Dr Peter F Hugger is the man at the helm of Echo Re since February 2012. Having spent a considerable part of his 30-year professional life in Asia, with some of the top names in the reinsurance business, he is now ready to chart a new course for Echo Re in Asia, where the company already has a big presence and where he believes lies the opportunity for international players like his. He speaks to Asia Insurance Review on his new plans and strategy for the region, and the future ahead for his company.

Source : AIR | 01 Dec 2017
Samsung Re: Expanding beyond group business
Samsung Re has been keeping a low profile since its inception in 2011 but of late, the reinsurer has adopted a new strategy to expand its operations beyond its group business and into newer territories across Asia. We speak to Mr Tae Y Choi, CEO, Samsung Re at the SIRC, to find out the plans and strategies ahead for the company.

Source : AIR | 01 Dec 2017
What insurance executives expect from the ASEAN Economic Community (AEC)
The following article is based on the recently launched ASEAN Insurance Pulse 2017, prepared by Dr Schanz, Alms & Company and exclusively sponsored by Malaysian Re. Based on in-depth interviews with executives from 35 companies and organisations from 8 different ASEAN countries, Dr Kai-Uwe Schanz of Dr Schanz, Alms & Company and Mr Wan Murezani Wan Mohamad from MNRB Holdings Berhad, summarise the insurance-specific opportunities and challenges anticipated from AEC.

Source : AIR | 01 Dec 2017
Asia: InsurTech investments surging strong
InsurTech funding in 2017 rose 36% from the year before to reach US$2.3 billion, according to the latest data published by Willis Towers Watson.

Source : AIR | 01 Mar 2018
Another Thai insurer eyes life in Cambodia
Thai Life Insurance, Thailand’s third largest life insurer, is studying the possibility of entering the Cambodian market as well as those of Laos and Myanmar. The studies will be completed this year.

Source : AIR | 01 Mar 2018
Indonesia: Insurers expect more than US$420 mln from insuring state assets
The potential premiums that can be generated from insuring state assets could reach IDR6 trillion (US$420 million) to IDR8 trillion, estimates the General Insurance Association of Indonesia (AAUI).

Source : AIR | 01 Mar 2018
CII aims to help bridge Indonesia's 'Insurance Gap''
The Chartered Insurance Institute highlighted the opportunity Indonesia’s ‘Insurance Gap’ presents to the insurance profession in Indonesia, if it can build greater capacity and awareness.

Source : AIR | 01 Mar 2018
Malaysia: Non-life market to see continued subdued growth
The general insurance sector has continued to be resilient in 2017, posting a 0.1% decrease in GWP to MYR17.65 billion (US$4.5 billion) for 2017, helped by positive growth in the second half of the year.

Source : AIR | 01 Mar 2018
Singapore: Life insurers toast stellar growth of 24% for 2017
Singapore’s life insurance industry crossed a significant milestone in 2017 with total weighted new business premiums reaching a record S$4,088.2 million (US$3,083 million), says the Life Insurance Association, Singapore (LIA Singapore). The figure represents a 24% surge compared to 2016.

Source : AIR | 01 Mar 2018
Philippines: High capital demands deter non-life players from microinsurance
Nonlife insurance players are deterred from tapping opportunities in the microinsurance space for a number of reasons, chief among them the high minimum capital requirement, the Philippine Insurers and Reinsurers Association (PIRA) has said.

Source : AIR | 01 Mar 2018
Singapore: InsurTech newbie provides cover for Internet economy
Singapore-based InsurTech company Axinan is creating products that are easily integrated into online marketplaces and platforms. It is focused on building innovative, high frequency/low premium services for the Internet economy.

Source : AIR | 01 Mar 2018
Thailand: Muang Thai Life eyes expansion beyond Indochina
Muang Thai Group, which is a holding company of Muang Thai Life Assurance, has set aside a budget of more than THB1 billion (US$31.6 million) a year from 2018-22 to expand its investments in new operations that relate to digital and insurance businesses, including startup ventures, said Mr Sara Lamsam, Muang Thai Life Assurance’s President and CEO. He is also a director of Muang Thai Group Holding.

Source : AIR | 01 Mar 2018
Look out for these what-if scenarios - WEF's 10 potential future shocks
The growing complexity and interconnectedness of our global systems can lead to feedback loops, threshold effects and cascading disruptions. Sudden and dramatic breakdowns – future shocks – become more likely, according to the Global Risks Report 2018 published by the World Economic Forum.

Source : AIR | 01 Mar 2018
Top connected risks trends in 2018 - Russell Group
The relationship between public capital and private capital, macroeconomic risks and protectionism and data privacy are among the key connected risks trends that corporates need to be aware of in 2018, says a white paper from risk management and services software company Russell Group.

Source : AIR | 01 Mar 2018
Product Bytes

Source : AIR | 01 Mar 2018
AIG's prospects in Southeast Asia set to be enhanced by Validus deal
After 10 years in the backseat, AIG is back on the acquisition trail, spending US$5.56 billion in an all cash deal for Bermudan reinsurer Validus. If the deal goes through, it will add diversity to AIG’s business and open up new opportunities in Singapore and Southeast Asia. Asia Insurance Review speaks to AIG’s CEO of Singapore and Head of Country Operations for Southeast Asia, Ms Claudia Salem.

Source : AIR | 01 Apr 2018
South Korea: Nonghyup group plans expansion in insurance in Asia
Nonghyup Financial Group has said that it plans to enter the Chinese and Southeast Asian insurance markets as part of its effort to expand its presence abroad.

Source : AIR | 01 Apr 2018
Reinsurers: Good corporate citizens
National Reinsurance Corporation of the Philippines’ Mr Augusto Hildalgo illustrates how AI, digital transformation, climate change, talent crunch and pricing are playing out in this fast-developing market.

Source : AIR | 01 May 2018
Asia: Tan Suee Chieh elected to council of IFoA
Mr Tan Suee Chieh, a veteran in the insurance industry and previously Group Chief Executive of NTUC Enterprise, has been elected to the council of the Institute and Faculty of Actuaries (IFoA), the only chartered professional body dedicated to educating, developing and regulating actuaries based both in the UK and globally.

Source : AIR | 01 Aug 2017
CSR gives insurers a community connect
Insurers around Asia now see CSR as an opportunity to build bridges with communities which not only creates goodwill for their business but also helps them make a meaningful contribution to society.

Source : AIR | 01 Aug 2018
Belt and Road Initiative: Opportunities and risks
China’s Belt and Road Initiative will bring the global economy enormous growth and investment opportunities, estimated by Swiss Re to be worth an additional $23bn in commercial insurance premiums by 2030. However, BRI projects also bring with them risks. The first-ever Insurance Summit on BRI organised by Asia Insurance Review saw experts discuss these issues.

Source : AIR | 01 Aug 2018
Asia: Towards regional disaster risk management
The four key enablers of technology and data; product innovation; research and development; and an integrated ASEAN market, can be deployed to put Asia in a strong position to address the challenges of effective assessment, management and transfer of disaster risks, said Mr Ravi Menon, Managing Director, Monetary Authority of Singapore, who spoke at the recent 8th Institute of Catastrophe Risk Management (ICRM) Symposium held in Singapore.

Source : AIR | 01 Sep 2017
The home of Everest beckons
Nepal will be the host for the 21st AIRDC this month in Kathmandu.

Source : AIR | 01 Sep 2018

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