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Industry finds hope in the recommendations!
It looks like happy days are here again for the reinsurance fraternity in India, as the Reinsurance Expert Committee (REC) has recommended that after GIC Re, insurers should be allowed to obtain the best terms simultaneously from Indian reinsurers, foreign reinsurance branches, Lloyds India and cross-border reinsurers that satisfy eligibility criteria.

Source : AIR | 01 Jan 2018
Life industry on a roll
The life insurance industry in India, consisting of 24 companies, has seen robust growth in 2017, backed by new business models, better products, customer centric technological initiatives along with a growing trend of personal savings in India. The industry is poised for higher growth in the second half of the current financial year and private insurers are expected to lead the charge. We speak to Mr Amitabh Chaudhry, MD & CEO, HDFC Life, on some of the issues the market is grappling with and what the future holds for the industry.

Source : AIR | 01 Jan 2018
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
JLT Re: Sector's reserves in a "danger phase"
Weakening reserves are a key risk, says Mr Mike Reynolds, Global CEO of JLT Re, as he shares with us the concerns and priorities of the broker for the year ahead.

Source : AIR | 01 Jan 2018
Automotive industry most impacted by product recalls - AGCS
Product-related risk is one of the biggest perils facing businesses today, with recall exposures having increased significantly over the past decade. And it is the automotive sector that is most impacted by product recalls, followed by the food and beverage sector and then IT/electronics, said Allianz Global Corporate & Specialty (AGCS) in a recent report, based on analysis of claims.

Source : AIR | 01 Jan 2018
Events

Source : AIR | 01 Jan 2018
PartnerRe looks for greater diversity to stay relevant to clients
PartnerRe plans to make greater strides in the life business as CEO Emmanuel Clarke explains the Bermudian reinsurer’s renewed focus in the segment.

Source : AIR | 01 Jan 2018
A turning point ahead: Asia shining
P&I clubs remain cautiously optimistic, observing the shipping recovery trend, as premiums still face pressure and some segments continue to struggle. They reported a mixed bag of results. But it is clear that Asia, more than ever, is rising in importance in the P&I world.

Source : AIR | 01 Jan 2018
Sedgwick to acquire Cunningham Lindsey
Sedgwick Claims Management Services, Inc., a leading global provider of technology-enabled risk and benefits solutions, has signed an agreement to acquire Cunningham Lindsey, a global loss adjusting, claims management and risk solutions firm.

Source : AIR | 01 Jan 2018
Call for papers for Shin Research Excellence Awards programme
Technology and innovation are influencing strategic growth in the insurance industry and its advancement impacts the industry across a broad spectrum. Recognising that, the International Insurance Society (IIS), in partnership with The Geneva Association, are calling for papers for the Shin Research Excellence Awards program, with the focus on the topic “The innovation transformation”.

Source : AIR | 01 Jan 2018
AXA reaffirms commitment to fight climate change
AXA has announced several new ambitious decisions to accelerate its commitment to fight climate change. These new decisions concern all the levers that the Group can activate: investments, divestments, and insurance, the Group announced in an official press release.

Source : AIR | 01 Jan 2018
Modelling and data help with risk management
There is still no way to predict ‘the next big one’, but modelling can help bridge data gaps and improve earthquake risk management, says RMS.

Source : AIR | 01 Jan 2019
Goodbye 2018, hello again in 2019
We swept the newsmakers and headline hoggers for 2018 and highlight some of the significant insurance disruptions, start-ups and InsurTech trends that will bear watching in 2019.

Source : AIR | 01 Jan 2019
Events

Source : AIR | 01 Jan 2019
Product Bites

Source : AIR | 01 Jan 2019
Global: IAIS consults on systemic risk assessment framework
The International Association of Insurance Supervisors (IAIS) has launched a consultation to seek public feedback on a proposed holistic framework for the assessment and mitigation of systemic risk in the insurance sector, a significant component of the post-financial crisis reform agenda.

Source : AIR | 01 Jan 2019
Global: UN collaborates with major insurers on climate risk-assessment tools
The UN Environment’s Finance Initiative (UNEP FI) has announced a partnership with 16 of the world’s largest insurers to develop a new generation of risk-assessment tools which aim to enable the insurance industry to understand the impacts of climate change on their business better.

Source : AIR | 01 Jan 2019
Cautious expansion
Taiping Reinsurance general manager Polly Ho gives us some insights into the company’s plans and strategies for the region and beyond.

Source : AIR | 01 Jan 2019
General insurance bucks the slowdown in the economy
India’s non-life sector continues its steady progress and could exceed $280bn in gross premiums in 2019-20.

Source : AIR | 01 Jan 2020
Insurance and resilience building for natural disaster preparedness
Every time there’s a catastrophic natural disaster in India, it is proclaimed to be once in a 100 year event. ‘It won’t affect us’ is the common refrain and life goes on, until the next disaster strikes.

Source : AIR | 01 Jan 2020
Plenty of potential and promise ahead
GIC Re’s Reena Bhatnagar talks about the progress made in climate change, the corporation’s recent loss and performance.

Source : AIR | 01 Jan 2020
Is India ready to get 'old'?
As India’s demographic dividend wanes and the nation grows older, the health insurance industry will have an important role in keeping India’s silver generation healthy.

Source : AIR | 01 Jan 2020
When will the woes of Indian farmers end?
Government, insurers and reinsurers need to work out a model that will be sustainable in the long term and also provide solace to farmers in distress.

Source : AIR | 01 Jan 2020
Hong Kong unrest and rising political risks
We spoke with Willis Towers Watson’s Stuart Ashworth about how the insurance sector is responding to the developing political risk scenario in Hong Kong.

Source : AIR | 01 Jan 2020
New health insurance regulations - a good prescription
Peak Re’s Janice Ye explains what the CBIRC’s new revised health insurance regulations mean for Chinese health insurers and the health insurance customers.

Source : AIR | 01 Jan 2020
World's first marine insurance blockchain platform launched
EY and Guardtime has announced the world’s first blockchain platform for the marine insurance sector. The platform was launched in collaboration with A.P. Møller-Maersk A/S, ACORD, Microsoft, MS Amlin, Willis Towers Watson and XL Catlin and after a 20-week proof of concept.

Source : AIR | 01 Oct 2017
Hurricanes Harvey and Irma highlight global protection gap
A significant proportion of the unprecedented flood losses generated by Hurricane Harvey in Texas and Louisiana will be uninsured, again highlighting the existence of a global protection gap. This was stated by Aon Benfield in the September 2017 edition of its Reinsurance Market Outlook report. As a result, those affected will require substantial financial support from the United States

Source : AIR | 01 Oct 2017
Showtime for reinsurance
Hurricanes Harvey and Irma thrust the perennial global protection gap starkly into the limelight, alongside rising threats from cyber and accumulation risks during the annual global reinsurance mart gathering in Monte Carlo. Asia Insurance Review reports.

Source : AIR | 01 Oct 2017
It's FAIR time again!
The Federation of Afro-Asian Insurers and Reinsurers (FAIR) holds its 25th Conference in Bahrain this month with the theme, “Insurance transformation in FAIR-Land.” We speak to Dr Adel Mounir, its Secretary General, on the organisation’s accomplishments, future plans and what delegates can look forward to in Bahrain.

Source : AIR | 01 Oct 2017
People on the move

Source : AIR | 01 Oct 2017
Environmental Insurance in Asia: Regulatory and public scrutiny will drive take up rates
With growing environmental consciousness worldwide, companies need to face up to the potential pollution impacts of their business activities on their surroundings and protect themselves from potential liabilities. We spoke with Mr Arthur Lu, Allianz Global Corporate & Specialty’s (AGCS) Head of Environmental Impairment Liability (EIL) on how this trend is shaping up in Asia.

Source : AIR | 01 Oct 2017
Modelling more man-made risk
AIR Worldwide’s President Bill Churney discusses the advances made in casualty and cyber modelling.

Source : AIR | 01 Oct 2017
Insurance: the future will be transformed by human capital
With lots of technological ‘disruptions’ happening in the insurance industry, it needs to look at how to ‘insure’ its own future. Asia Insurance Review speaks to some insurance HR professionals for their views on how best the industry can marshal its present and future human resource to its best advantage.

Source : AIR | 01 Oct 2018
An agricultural world-first
AgriTask and Mapfre recently launched a ground-breaking innovation for the agricultural sector, which would allow for much improved efficiency in a complicated industry. We spoke to AgriTask CEO Israel Fraier about the unique capabilities of this platform.

Source : AIR | 01 Oct 2018
The worst flood in a century
In August, Kerala was devastated by floods of biblical proportions, caused by torrential rains over a three-week period resulting in close to 500 deaths and economic losses amounting to $5bn. We look at the factors behind this unprecedented natural calamity and how the insurance industry can deal with such events in the future.

Source : AIR | 01 Oct 2018
The new Achilles' heel of the marine industry
Cyber is the insurance class of the moment. Some insurers love it and cannot seem to write enough of it, while others hate it – citing unknown risk and potential aggregations as existential threats to the insurance industry as a whole. What is certain is that it is a very real new risk that all businesses and individuals are now exposed to that did not exist 25 years ago.

Source : AIR | 01 Oct 2018
Product Bites
- Japan: ‘Minpaku’ products come to market
- Hong Kong: Prudential announces multi-claim critical illness protection solution
- Singapore: Etiqa launches personal cyber insurance
- Global: Aon offers $350m reinsurance capacity for new silent cyber facility
- Global: Seamless space insurance from XL Catlin
Source : AIR | 01 Oct 2018
Accumulation risk a key concern as cyber insurance market grows - The Geneva Association
Accumulation risks need to be addressed in the context of a hyper connected digital world, as cyber insurance offerings and premium volumes expand sizeably. Sustainable growth in the cyber insurance market should not be taken for granted, says a new report from the Geneva Association called Advancing Accumulation Risk Management in Cyber Insurance.

Source : AIR | 01 Oct 2018
Traffic violations could lead to spikes in motor insurance premiums
As penalties for traffic violations rise steeply, Insurance Regulatory and Development Authority of India has been looking at how to rein in risky driving by linking traffic violations with vehicle insurance premium.

Source : AIR | 01 Oct 2019
Greying China and healthcare interventions
As China grows ‘old’, the demographic shift in the population calls for a transition in the country’s healthcare system. To what extent would intervention by the Chinese government be successful?

Source : AIR | 01 Oct 2019
Forward-thinking regulations
With the IAIS congregating in Malaysia this month for its annual conference, regulators, among other things, are looking to stay ahead of the FinTech game as well as equip themselves to not only manage risk but be on top of crisis situations.

Source : AIR | 01 Nov 2017
Afro-Asian insurance body held in the GCC for the very first time
The Federation of Afro-Asian Insurers and Reinsurers (FAIR) held its 25th Conference in Bahrain with the theme of “Insurance Transformation in FAIR-Land” on 9-11 October.

Source : AIR | 01 Nov 2017
B3i expands with new members joining its prototype Market Testing phase
The Blockchain Insurance Industry Initiative B3i announced the expansion of the group, with 23 new entrants joining its Market Testing programme. This follows the successful launch of a working market testing prototype at the Monte Carlo RVS conference this year.

Source : AIR | 01 Nov 2017
IUA survey on business priorities for London company market
The top three challenges facing London market companies are a soft market, Brexit and regulatory compliance, according to a survey of International Underwriting Association members.

Source : AIR | 01 Nov 2017
Dive In: Embracing diversity
A global event promoting inclusion and diversity within the insurance industry, Dive In is a three-day festival that spans 17 countries and 32 cities. Started by Lloyd’s of London in 2015, the festival navigates today’s global, multi-generational workplace, looking at making the most of a work-life blend, the importance of inclusive leadership and supporting the needs of the disabled. The programme has something for everyone.

Source : AIR | 01 Nov 2017
XL Group: Looking for room amid regulatory restrictions
Asia Insurance Review caught up with XL Group’s CEO Mike McGavick at this year’s Rendez-vous de Septembre, where he shared his views on regulation in Asia and the company’s drive to innovate.

Source : AIR | 01 Nov 2017
IGP&I to provide certification and reinsurance for MLC abandonment cover
The International Group of Protection and Indemnity Clubs (IG) said they will be providing certification that is required under the Maritime Labour Convention (MLC) and has also arranged reinsurance cover which will provide in total US$200 million MLC abandonment cover.

Source : AIR | 01 Nov 2017
South African delegation in Singapore share information and best practices
A South African delegation of 35 insurance professionals (a mix of insurers, reinsurers, brokers, risk managers and others) was in Singapore in September at the invitation of the Singapore Insurance Institute (SII).

Source : AIR | 01 Nov 2017
Willis Re: Future-proofing business and society
Amid a rapidly changing and increasingly volatile world, Willis Re International Chairman James Vickers tells Asia Insurance Review what he figures are the dominant trends to play out, as well as why regulators and industry should not lose sight of the meaning and value of global reinsurance.

Source : AIR | 01 Nov 2017
Thomas Lillelund: Will the market change?
Mr Thomas Lillelund, CEO of Aspen Re and immediate past Chairman of Singapore Reinsurers’ Association (SRA)

Source : AIR | 01 Nov 2017
Marine weathers the storm
With our Marine Insurance Conference in Hong Kong this month, we take stock of what IUMI achieved in Tokyo in September. Amidst numerous challenges, marine insurers are still hopeful with technology having a huge impact.

Source : AIR | 01 Nov 2017
People on the move

Source : AIR | 01 Nov 2017
Global: COSO updates 2004's ERM framework
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) has released the highly-anticipated ERM Framework: Enterprise Risk Management-Integrating with Strategy and Performance, an update to a 2004 document which has been one of the most widely-recognised and applied risk management frameworks in the world.

Source : AIR | 01 Nov 2017
Digital transformation: A journey to stay relevant
This interesting take depicting a conversation between DXC Technology and its client, Mr Anshul Srivastav, CIO, Union Insurance Company P. S. C., highlights the role of cloud, digital transformation and its benefits.

Source : AIR | 01 Nov 2017
Technology and talent can transform FAIR-Land
The 25th FAIR Conference in Bahrain lists innovative use of technology and development of talent as insurance industry’s top priorities in battling emerging risks.

Source : MEIR | 01 Nov 2017
AIA: For the greater good
Asia Insurance Review catches up with AIA Group Chief Executive Ng Keng Hooi in Hong Kong, where he shares the importance of a strong team and doing the right thing for the greater good.

Source : AIR | 01 Nov 2017
Where is the untapped potential?
Takaful is growing steadily in some markets like Malaysia though in many others including in the GCC it seems to be slowing down. Takaful operators are still finding ways to appeal to Millennials, while grappling with regulations that do not promote a level playing field. Speakers at the Takaful Rendezvous 2017 in Kuala Lumpur shared candid views about the challenges faced while highlighting new avenues of potential to explore.

Source : MEIR | 01 Nov 2017
UAE: ADNIC International enters UK market
Abu Dhabi National Insurance Company (ADNIC), a leading regional multi-line insurance provider for corporates and individuals, has expanded into the UK market with the opening of a representative office in London, under the name ADNIC International Ltd.

Source : MEIR | 01 Nov 2017
Global: Takaful companies urged to boost effectiveness
The takaful sector is the only one in the Islamic financial industry to sustain double-digit growth, although this is due to the small base of takaful contributions, according to the ruler of Perak state in Malaysia, Sultan Nazrin Shah.

Source : MEIR | 01 Nov 2017
Blockchain initiative B3i adds 23 new members, including 3 from MENA
The Blockchain Insurance Industry Initiative B3i has expanded with 23 new members, including three companies from MENA – SAHAM Assurance, Takaful Emarat and Trust Re – which will help with B3i’s upcoming market testing programme.

Source : MEIR | 01 Nov 2017
Cutting greenhouse gases, reducing disaster risk, vital for sustainable development - UN envoy
A new United Nations report has underscored the importance of a “risk-informed” approach to sustainable development and called for integrating global agreements on disaster risk reduction and climate change into national socio-economic planning.

Source : MEIR | 01 Nov 2017
IAIS recognises insurance mutuals enhance access to cover
The International Association of Insurance Supervisors (IAIS) has issued an application paper on the regulation and supervision of mutuals, cooperatives and community-based organisations (MCCOs) in increasing access to insurance markets.

Source : MEIR | 01 Nov 2017
Pakistan: Financial regulator introduces rules to improve Shariah advisory services
The Securities and Exchange Commission of Pakistan (SECP) has introduced draft Shariah Advisers Regulations 2017 to enhance the credibility of Islamic financial services sector.

Source : MEIR | 01 Nov 2017
Malaysia: Etiqa completes acquisition of 75% stake in Indonesian insurer
Etiqa, the insurance and takaful arm of Malayan Banking Bhd’s International Holdings (Maybank), has completed the acquisition of a 75% stake in Indonesian general insurer PT Asuransi Asoka Mas for IDR207.2 billion (US$15.3 million).

Source : MEIR | 01 Nov 2017
Reinsurance at new crossroads
Foreign reinsurers’ branches in India feel that the existing order of preference giving GIC Re the first right of refusal does not afford them a level playing field.

Source : AIR | 01 Nov 2018
Spreading its wings
Asia Insurance Review spoke with GIC Re general manager Devesh Srivastava to understand the reinsurer’s plans to expand its global footprint, especially in Europe.

Source : AIR | 01 Nov 2018
State-owned Russian reinsurer sets sights on Asia
The Russian National Reinsurance Company (RNRC) was established by Russia’s Central Bank in August 2016 but only started operations in January 2017. However, it has already gained CIRC’s approval to operate in China in the specialty market, and has been granted a licence in Egypt. We caught up with Vice-President of Business Development Igor Karpovich at the SIRC 2017 to learn more about the reinsurer’s hunger for new business in the region.

Source : AIR | 01 Dec 2017
A year of change for CCR Re
As a new reinsurance player gearing up for just its second renewals, following the transfer of the private market reinsurance business from CCR to a new subsidiary, CCR Re, beginning this year, the reinsurer is optimistic about the year ahead. At the SIRC, we spoke with Mr Laurent Montador, Deputy CEO at CCR and CCR Re about their plans.

Source : AIR | 01 Dec 2017
Regional risk management associations to mutually recognise certifications

Five of the world’s largest risk management associations, including the Pan-Asia Risk and Insurance Management Association (PARIMA), have agreed to work together towards mutual recognition of their respective risk management designations and certification programmes.

Source : AIR | 01 Dec 2017
AI and machine learning bring benefits to financial services, but also risks
Financial institutions are increasingly using AI and machine learning in a range of applications across the financial system and while this brings benefits, there are also risks, said a report published by the Financial Stability Board (FSB).
Source : AIR | 01 Dec 2017
Insurance industry joins new WEF-led coalition to tackle innovation risks
The insurance industry has joined forces with technology companies and governments in a new initiative led by the World Economic Forum that will work on avoiding catastrophic levels of uninsured risks in the innovation economy.

Source : AIR | 01 Dec 2017
Health & Retirement: Personalised treatment - One size does not fit all!
Drugs are mostly prescribed on a “one-size-fits-all” basis, ignoring the fact that everyone is different. This was a key focus at the recent Singapore Actuarial Society’s Health and Retirement Conference.

Source : AIR | 01 Dec 2017
The capital efficiency gap
Underinsurance is a problem, but not all of it represents a protection gap. Mr Greg Lowe at Aon and Mr George Attard at Aon Benfield Analytics International explain.

Source : AIR | 01 Dec 2017
Sustainability a risk & opportunity for business
PARIMA 2017 conference in Singapore last month highlighted that though sustainability is a growing strategic risk issue that could have financial impact on a business, it could prove to be an avenue of growth and opportunities.

Source : AIR | 01 Dec 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
Amazon continues push into European insurance market
Tech giant Amazon is recruiting insurance professionals in London to join a new team looking to disrupt the insurance market in the UK, Germany, France, Italy, and Spain, said GlobalData, a data and analytics specialist.

Source : AIR | 01 Dec 2017
Holistic approach to agriculture insurance key to seeking solutions for smallholder farmers
The importance of strong coordination among industry and supervisory bodies as well as aggregators involved in the provision of agriculture insurance was emphasised by forum panellists at the 11th Consultative Forum in Lima, Peru last month, where over 60 high-ranking representatives, from South and Central America, Africa and Asia, from the insurance industry and regulatory and supervisory bodies attended.

Source : AIR | 01 Dec 2017
53 years, 53 countries, 265 members, 25th Conference - that's FAIR Land!
Soft insurance markets, low investment returns and rapid advent of digitalisation were some of the issues discussed at the recent 25th FAIR Conference. We bring key highlights.

Source : AIR | 01 Dec 2017
Insurers and InsurTechs - A symbiotic partnership
Asia Insurance Review speaks to four leading Indian InsurTech companies to find out how they define their role in the Indian insurance ecosystem.

Source : AIR | 01 Dec 2017
Reinsurance renewals - It's about sustainability, not "payback"
Industry players have mostly managed to cruise along amid a tough investment climate and excess capacity, thanks to benign loss activity over the past several years. But Allianz Re CEO Amer Ahmed says changes are due, particularly in pricing, if the reinsurance market is to survive.

Source : AIR | 01 Dec 2017
High CAT risks, low penetration in Asia - only two ways out
Despite its continual efforts, Asia’s protection gap continues to stare the industry starkly in the face. Mr Roland Eckl, CEO Asia Pacific (Japan, Korea, India & Southeast Asia) of Munich Re believes there are only two key ways out of this conundrum.

Source : AIR | 01 Dec 2017
Stars of 2017 continue to shine bright
We look back at how some of the winners of the 2017 Asia Insurance Industry Awards fared in 2018.

Source : AIR | 01 Dec 2018
Sri Lanka: Innovation can make a difference
With a free universal healthcare system, Sri Lanka has achieved successful health indicators. It also faces an increasing burden of non-communicable diseases, which without a wide base of health insurance, becomes quite challenging.

Source : AIR | 01 Dec 2019
Nepal - A long way to go yet
Health insurance in Nepal is still in its infancy covering around 10% of the population. Overall about 15-18% of Nepalese people have some form of insurance cover.

Source : AIR | 01 Dec 2019
Banking crisis and insurance industry - view from India
Minor aberrations apart, the recent crisis in India’s banking industry does not appear to have impacted the Indian insurance industry.

Source : AIR | 01 Dec 2019
Will optimism transform into opportunities?
The recent relaxations in its financial regulations take China a step closer to an open economy. The relaxations, which touch the insurance industry too, have resulted in a lot of optimism for the foreign insurers.

Source : AIR | 01 Dec 2019
BI and cyber dominate Asian risk concerns in 2018 - Allianz
Business interruption (#1 with 42% of responses; #1 in 2017) and cyber incidents (#2 with 38% of responses; #4 in 2017) emerged as the top two risk concerns among corporates in Asia, mirroring the response of businesses globally, according to the Allianz Risk Barometer 2018.

Source : AIR | 01 Feb 2018
Firms will make enterprise-wide changes to address cyber risk - Aon
As cyber attacks grow in volume and scale, companies will be compelled to address cybersecurity risk holistically by integrating it more aggressively into their enterprise risk management (ERM), said Aon’s latest 2018 Cybersecurity Predictions report.

Source : AIR | 01 Feb 2018
Bridgestone executive Robert Cartwright Jr appointed RIMS' 2018 president
The Risk & Insurance Management Society Inc (RIMS) has appointed Mr Robert Cartwright Jr, an executive at leading tyre company Bridgestone, as its president for the 2018 term.

Source : AIR | 01 Feb 2018
RegTech embedded in insurance transformation
Insurers are often hindered by the need to address ongoing regulatory challenges and associated rising compliance costs. Mr Paul Brenchley and Mr Murray Raisbeck from KPMG look at this issue.

Source : AIR | 01 Feb 2018
Insuring Live Sporting Events: An Olympic-sized risk?
In the lead up to the Winter Olympics in Pyeongchang later this month, we speak to Mr Michael Furtschegger from AGCS on the risks and exposure of hosting live sporting events and the important role insurance can play.

Source : AIR | 01 Feb 2018
Getting to know your customer with Big Data
A century ago, the world’s most valuable resource was oil. Today in the digital era, it is data. Harnessing the power of data as an asset has become one of the key strategies for insurers. Dr Yuhui Yao of FWD Group elaborates.

Source : AIR | 01 Feb 2018
A Big Data revolution in Supply Chain Financing - Pipe dream or new paradigm?
While data sophistication increases exponentially in most industries, one industry remains so plagued by data scarcity that it is rejecting a whopping 57% of the requests of its Small and Medium Enterprises (SME) clients. That industry is trade finance. Ms Caroline Paulhan of Euler Hermes explores.

Source : AIR | 01 Feb 2018
Securing the edges of the insurance enterprise
Insurance companies must take a new approach to protect the wealth of personal data streaming in from vehicles, smartphones and a myriad of IoT devices. Mr Chris Moyer of DXC Technology elaborates.

Source : AIR | 01 Feb 2018
Events

Source : AIR | 01 Feb 2018
Asia - Social media is key for brokers
A recent social media survey conducted by Economical Insurance found that 85% of brokerages think an engaging social media presence gives a competitive advantage over those that do not use the medium. 79.5% of respondents said they use social media primarily to generate new leads and sales.

Source : AIR | 01 Feb 2018
2017 insurance recovery highlights protection gap - Aon Benfield
Natural catastrophe events caused economic losses of approximately US$320 billion globally last year, of which $128 billion were insured. This is according to estimates by Aon Benfield in its latest Reinsurance Market Outlook report – thus marking 2017 as the third-costliest year after losses in 2011 and 2005.

Source : AIR | 01 Feb 2018
Reinsurance Group of America and RenaissanceRe launch Langhorne Re
Reinsurance Group of America, Incorporated (RGA) and RenaissanceRe Holdings Ltd (RenaissanceRe), have announced the launch of Langhorne Re, a global reinsurer targeting large in-force life and annuity blocks.

Source : AIR | 01 Feb 2018
Qatar Re receives regulatory authorisation in the UK
Qatar Reinsurance Company Limited (Qatar Re) said it has been authorised by the Prudential Regulation Authority to carry out certain regulated activities in the UK from its branch office in London. Mr Michael van der Straaten will lead the branch, in addition to his current role as the company’s Chief Underwriting Officer for Long Tail and Specialty Classes.

Source : AIR | 01 Feb 2018
How life insurance has evolved in 10 years: South Korea - Innovation is the only way out
In South Korea in the last decade, annuities, life insurance savings and whole life insurance products lost market share. The only hope lies appears to be in innovative life insurance protection and long-term healthcare and wellness products.

Source : AIR | 01 Feb 2020
China prepares for the 'silver' tsunami
China’s insurance regulator has initiated steps to put in place a durable insurance-protection strategy for its rapidly ageing population so that the country is prepared for the ‘silver’ tsunami.

Source : AIR | 01 Feb 2020
Rajesh Sud: 17 going on 18!
Mr Rajesh Sud, Executive Vice Chairman & MD of Max Life Insurance Company, is among the rare breed of CEOs to have survived in the top management space for over 17 years in one of India’s leading life insurance companies. He has seen the development of the life industry from close quarters since its liberalisation in 2000 and gives us his perspective of the industry.

Source : AIR | 01 Mar 2018
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
Australia: Some health insurers should consider mergers - APRA
Mergers should be at least under active consideration by health insurers with low or negative member growth, and which only have small membership bases to begin with, Mr Geoff Summerhayes, APRA Executive Board Member, has said.

Source : AIR | 01 Mar 2018
China: Insurance and financial industry regulation set to be discussed by lawmakers
Tighter supervision and continued risk prevention in the Chinese insurance industry are expected to be emphasised at the annual session of the National People’s Congress (NPC), the national legislature which will convene on 5 March.

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
A record-breaking earthquake CAT bond for World Bank
Aon Securities has assisted the World Bank in structuring the largest-ever catastrophe bond covering earthquakes, providing the organisation with US$1.36 billion of capital markets protection.

Source : AIR | 01 Mar 2018
Shuzo Sumi named as IIS' Hall of Fame Laureate
The International Insurance Society (IIS) has announced Mr Shuzo Sumi, Chairman of the Board of Tokio Marine Holdings, as the 2018 Insurance Hall of Fame Laureate. Mr Sumi will be honoured at the 9 July gala awards dinner taking place at the IIS Global Insurance Forum at the InterContinental Hotel in Berlin, Germany, 8-11 July.

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
Events

Source : AIR | 01 Mar 2018
Healthcare in Asia: A storm in the making!
Asia Insurance Review speaks to reinsurers, insurers, brokers, health evangelists and medical management solution providers to understand the healthcare problems in Asia and the way forward.

Source : AIR | 01 Mar 2018
RIMS' President Robert Cartwright, Jr: Attracting the next generation
Mr Robert Cartwright, Jr is the 2018 President of RIMS, the risk management society™, and the Division Manager –Environmental, Health, Safety & Sustainability – Northeast Division at Bridgestone Retail Operations.

Source : AIR | 01 Mar 2018
Lloyd's: Seeking sustainable pricing for all
On the sidelines of the 11th India Rendezvous 2018 in Mumbai, Ms Inga Beale, CEO of Lloyd’s of London, shared with us her thoughts on the global (re)insurance markets, especially in emerging Asia, and their focus on achieving a sustainable pricing for all.

Source : AIR | 01 Mar 2018
Not disruption, but continuous evolution
With a record 700 delegates from 38 countries, hectic networking, engrossing discussions and effective bilateral meetings, the 12th India Rendezvous, Reinsurance: Disrupted, in Mumbai from 22 to 24 January set important milestones.

Source : AIR | 01 Mar 2019
Legacy versus digital insurers - the lines are blurring
Can ‘new’ insurers could do well enough to prompt incumbents to move away from the traditional tack.

Source : AIR | 01 Mar 2019
Reassurance on reinsurance
The direct financial impact of COVID-19 outbreak on the (re)insurance industry is likely to be limited.

Source : AIR | 01 Mar 2020
COVID-19: Limited impact on Chinese insurers
The World Health Organization’s tag of global health emergency on the COVID-19 virus outbreak in China notwithstanding, the loss impact on the country’s insurance market is likely be limited.

Source : AIR | 01 Mar 2020
Indian brokers - bumpy road ahead
Low insurance penetration, expanding markets and emerging risks offer more opportunities but digitalisation, web aggregators and changing customer preferences pose stiff competition to brick and mortar brokers.

Source : AIR | 01 Mar 2020
MDRT Experience: The magic of perspectives
The recent MDRT Experience Meeting in Bangkok was filled with inspirational stories of advisers, as well as key takeaways, such as how to overcome silo mentality in solving problems and how businesses and leaders can connect with a new generation.

Source : AIR | 01 Apr 2018
Severe cold weather and Storm Emma cause extensive impacts across Europe - Aon
The outbreak of cold, arctic air and Storm Emma affected a large area of Europe during the second half of February and into early March with temperatures falling to some of their coldest levels in decades, causing thousands of flights to be cancelled or delayed and many different sectors were closed due to inclement conditions. Local governments also reported that at least 88 fatalities had occurred due to hypothermia and other incidents.

Source : AIR | 01 Apr 2018
India's actuarial pioneers
K A Pandit Consultants & Actuaries is India’s oldest actuarial firm and it is celebrating its 75th Anniversary this year. The firm is today a major player in the Indian market where it operates in the life insurance, non-life insurance and employee benefits space, and is also a member of Abelica Global, a global consortium of actuaries. We speak to Mr Dharmendra K Pandit, partner, on the journey so far and the role of actuaries in today’s highly automated industry.

Source : AIR | 01 Apr 2018
The importance of surveyors in today's challenging hull insurance landscape
Mr Rama Chandran of QBE Insurance (Singapore) recommends that surveyors play a key role in investigating and offering greater analysis and insight into the deeper-seated issues in the marine industry so that it can operate more sustainably.

Source : AIR | 01 Apr 2018
Packaged policies for the customer
With the influx of capital and disruption looming over the horizon, Mr Matt Cannock of Markel says insurers need to focus on the customer first and introduce more packaged policies.

Source : AIR | 01 Apr 2018
Updated ISO 31000 risk management standard keeps things simple
The International Organization for Standardization (ISO) has issued a newly revised version of the ISO 31000, Risk management – Guidelines. The updated ISO 31000:2018 is a clearer, shorter and more concise guide to help organisations improve planning and decision-making through the use of risk management principles.

Source : AIR | 01 Apr 2018
Political risk landscape to remain turbulent in 2018 - Marsh
Political risk will remain a major concern for multinational businesses in 2018, driven by events including the North Korea missile crisis, ongoing Brexit negotiations, and trade protectionism, according to Marsh’s Political Risk Map 2018.

Source : AIR | 01 Apr 2018
Events

Source : AIR | 01 Apr 2018
Actuaries - time to chart a new path
Revealing insights from the Institute and Faculty of Actuaries immediate past president Marjorie Ngwenya.

Source : AIR | 01 Apr 2019
Understanding and addressing global insurance protection gaps
The Geneva Association’s Kai-Uwe Schanz provides an updated quantification of protection gaps in the areas of natural catastrophe, cyber and healthcare risk.

Source : AIR | 01 May 2018
Insurance Europe issues GDPR data breach notification template
Insurance Europe, the European insurance and reinsurance federation, has issued a template for reporting data breaches to the UK Information Commissioner’s Office (ICO) under the General Data Protection Regulation (GDPR).

Source : AIR | 01 May 2018
UnitedHealth and Humana launch blockchain pilot
Two of the largest health insurance providers in the US announced in early April that they would pursue a blockchain pilot aimed at improving the quality of healthcare data.

Source : AIR | 01 May 2018
News - AI creates new risks, even as it brings benefits to businesses - Allianz
The widespread implementation of artificial intelligence (AI) applications brings many advantages for businesses, such as increased efficiencies, fewer repetitive tasks and better customer experiences. However, in the wrong hands, the potential threats could easily counterbalance the huge benefits, as AI is vulnerable to risks especially cyber, said Allianz Global Corporate & Specialty’s (AGCS) The Rise of Artificial Intelligence: Future Outlook and Emerging Risks report.

Source : AIR | 01 May 2018
Cognitive computing holds promise for life insurance customer service
DXC Business Process Services’ Wayne Harrington argues that bringing cognitive computing to customer service will allow insurers to deliver a level of digital service comparable to that of any other industry.

Source : AIR | 01 May 2018
Events

Source : AIR | 01 May 2018
Dancing in the dark - AI fights the unknown unknowns
Darktrace’s Mr Sanjay Aurora digs deep into the use of artificial intelligence and machine learning to combat cyber threats that could have applications in the insurance sector.

Source : AIR | 01 May 2018
There's more to be done
A look at how the insurance industry is responding to the growing spectre of climate change as it brings in more devastating natural catastrophes.

Source : AIR | 01 Jun 2018
Asia health protection gap 10 times larger than forecast
Delegates at the Institute and Faculty of Actuaries Conference 2018 in Bangkok were treated to a sneak peek at Swiss Re’s soon-to-be-published health protection gap in Asia study. The forthcoming study, due to be published in July, will show that the overall size of Asia’s health protection gap is a massive $1.8tn.

Source : AIR | 01 Jun 2018
Lloyd's underwriters told to stop insurance linked to NRA
Lloyd’s of London has said it will direct underwriters to terminate all insurance offered, marketed, endorsed or otherwise made available through the National Rifle Association (NRA) of America.

Source : AIR | 01 Jun 2018
Study says insurance industry dangerously unprepared for extreme weather
As historic flooding caused by climate change devastated communities in Canadian states of New Brunswick and British Columbia, new research from the University of Waterloo revealed that the insurance industry has not considered a changing climate in their practices, putting homeowners at financial risk.

Source : AIR | 01 Jun 2018
International Maritime Organization adopts climate change strategy for shipping
The United Nations International Maritime Organization (IMO), which comprises over 170 member nations has adopted an initial strategy on the reduction of greenhouse gas (GHG) emissions from ships.

Source : AIR | 01 Jun 2018
Risk management not keeping pace with tech advances - Marsh/RIMS
Emerging technologies continue to change rapidly the way businesses operate and interact with customers, but risk management processes are not keeping pace with the associated risks from these disruptive technologies, said a recent report published by Marsh and RIMS, the risk management society.

Source : AIR | 01 Jun 2018
Product Bites

Source : AIR | 01 Jun 2018
Events

Source : AIR | 01 Jun 2018
How blockchain could revolutionise the insurance industry
It seems clear that there are many applications for the use of blockchain technologies in the insurance sector. Mr Faisal Siddiqi of DXC Technology outlines some of the potential benefits - and looks at what the future might hold in store.

Source : AIR | 01 Jun 2018
Committed to diversity
A scathing report by Bloomberg a few weeks ago about the existence of an ‘old boys club’ in Lloyd’s of London showed that we still have a long way to go when it comes to diversity and equality.

Source : AIR | 01 Jun 2019
Change management and cyber risk are insurers' top risks
The global insurance industry’s ability to confront structural and technological changes is now the greatest risk it faces, according to a new survey of insurers and close industry observers.

Source : AIR | 01 Jul 2017
Global cyber incident reporting portal created for shipping industry
A global cyber crime reporting portal for the shipping industry has been created through a collaboration of several maritime entities. This was announced by Mr Mark Sutcliffe, founder of CSO Alliance, an online community of maritime company security officers driving best practices to combat maritime crime.

Source : AIR | 01 Jul 2017
PwC: Gearing up for a paradigm shift
The issuance of IFRS 17 by the International Accounting Standard Board (IASB) recently was the most significant change to insurance accounting requirements in 20 years. Ms Woo Shea Leen and Ms Ang Sock Sun, both from PwC Singapore, share how insurers can gear up for this paradigm shift in reporting standard.

Source : AIR | 01 Jul 2017
Regulation on FinTech must be future-proof - Insurance Europe
Insurance Europe has advised the European Commission to ensure that regulation on FinTech is future-proof and supportive of innovation that benefits consumers.

Source : AIR | 01 Jul 2017
Shipping losses decline but cyber security looms - Allianz
There were 85 large ships lost worldwide in 2016, a decline of 50% over the past decade, said the Allianz Safety & Shipping Review 2017, a report published by Allianz Global Corporate & Specialty SE (AGCS). The review also noted the South China and Southeast Asian waters as top loss location, with East Mediterranean replacing the British Isles as the top incident hotspot.

Source : AIR | 01 Jul 2017
Principles on supervisory approach to relocations from the UK
The European Securities and Markets Authority (ESMA) has published an Opinion setting out general principles aimed at fostering consistency in authorisation, supervision and enforcement related to the relocation of entities, activities and functions from the United Kingdom. The opinion is addressed to national competent authorities (NCAs), in particular of the 27 Member States that will remain in the EU (EU27).

Source : AIR | 01 Jul 2017
Putting the "auto" in automobile
The automobile industry is set to be changed drastically with the introduction of automated vehicles. We sat down with Mr Richard Jinks, Head of Portfolio Solutions – Insurance at XL Catlin, who has been working with leading robotics researcher Oxbotica on perfecting the formula for driverless cars.

Source : AIR | 01 Jul 2017
Disrupting catastrophe modelling
Risk Spatial founder Nick Hassam says Open Modelling and Big Data can disrupt the catastrophe modelling process – but who will implement it? founder Nick Hassam says Open Modelling and Big Data can disrupt the catastrophe modelling process – but who will implement it?

Source : AIR | 01 Jul 2017
Insurance technology trends and success factors for business transformation
Mr Daniel Angelucci of DXC Technology explains the two trends that will shape insurance technology and insurance companies for the next few years.

Source : AIR | 01 Jul 2017
Bangladesh farmers can now breathe easy
Bangladesh suffers largely from the vagaries of nature with frequent droughts, flooding and storms that take a heavy toll on the farming community, whose livelihood is affected causing extreme distress and social unrest. We speak to Messrs Arup Chatterjee and Md Mortaza Golam from ADB on the impact of the crop insurance scheme and the experiences from the market.

Source : AIR | 01 Jul 2018
Alive and vibrant
Life reinsurers evolve in response to new and more complex risks. They increase their value by taking advantage of their comprehensive understanding of risks and adopting a positive attitude towards innovation. Asia Insurance Review speaks with four global reinsurers to understand their expansion, innovation, risk appetite, technology and market support strategies.

Source : AIR | 01 Jul 2018
GIF 2018 - Heading for the innovation transformation
Over 500 insurance professionals from around the globe are expected to descend on Berlin in July 2018 for this year’s Global Insurance Forum, with the timely theme of ‘The Innovation Transformation’.

Source : AIR | 01 Jul 2018
2017 was the costliest year on record for the UK specialty insurance market
The UK specialty insurance market suffered the costliest year on record in 2017, according to EY’s Annual Specialty Results analysis, due to a combination of natural and man-made catastrophes including hurricanes Harvey, Irma and Maria and the Californian wildfires.

Source : AIR | 01 Jul 2018
Nat CAT: The worst is yet to come
With climate change bringing unprecedented Nat CAT intensity, the recent 16th Conference on Catastrophe Insurance in Asia organised by Asia Insurance Review was a stark reminder that the (re)insurance industry needs to stay vigilant and improve its offerings to combat Nat CAT risks.

Source : AIR | 01 Jul 2018
The new world order of risk
The business of insurance and risk is facing a new world order. In our globalised world, wealth is concentrated, borders have blurred and systems of finance and governance are more interconnected than ever. Mr Iain Ferguson of Lloyd’s Asia Pacific provides some insights from the City Risk Index.

Source : AIR | 01 Jul 2018
Emerging geopolitical risks a top threat to financial markets - Swiss Re
Emerging geopolitical risks are the top threat to financial markets, and one of five top emerging risk themes identified as posing the largest challenges globally in this year’s Swiss Re SONAR report.

Source : AIR | 01 Jul 2018
Global: World's first threat-information sharing group for regulators established
The Financial Services Information Sharing and Analysis Center (FS-ISAC) has announced the upcoming launch of the world-first CERES (CEntral banks, REgulators and Supervisory entities) Forum, a new information sharing group for central banks, regulators and supervisors to share information impacting global security and resiliency.

Source : AIR | 01 Jul 2018
Product Bites

Source : AIR | 01 Jul 2018
Non-communicable diseases: When death isn't catching
Non-communicable diseases do not make headlines like infectious epidemics but they are responsible for over 70% of deaths every year globally. China has the ‘dubious’ distinction of being the global leader in non-communicable diseases.

Source : AIR | 01 Jul 2019
Could some Asian cities end up underwater soon?
Several Asian coastal cities face the twin threats of rising sea levels and land subsidence due to over-exploitation of groundwater. Plans are afoot to relocate fast-sinking cities like Jakarta.

Source : AIR | 01 Jul 2019
People on the move

Source : AIR | 01 Aug 2017
The CEO's guide: Leading the digital transformation
We bring you the crucial tips that every CEO today should have to successfully implement digital change as suggested by the Boston Consulting Group.

Source : AIR | 01 Aug 2017
In with the new
As the millennial generation enters the workforce, the insurance industry faces a tough challenge - how do we get these innovative and tech-savvy people to join the industry?

Source : AIR | 01 Aug 2017
Swiss Re to integrate ESG benchmarks into investment decisions
Swiss Re has been consistently integrating environmental, social and governance (ESG) considerations into its investment process since the start of 2017. It is among the first in the (re)insurance industry to do so.

Source : AIR | 01 Aug 2017
Global: Cyber can be as destructive as hurricanes in terms of losses
E conomic losses from cyber events have the potential to be as large as those caused by major hurricanes, yet less than 20% of losses are covered by insurance, according to Lloyd’s in a report co-written with risk modelling firm Cyence.

Source : AIR | 01 Aug 2017
Global: Inaugural pandemic bonds launched to support $500 million Pandemic Emergency Financing Facility - World Bank
The World Bank has launched specialised bonds aimed at providing financial support to the Pandemic Emergency Financing Facility (PEF), the insurance mechanism it introduced a year ago to rapidly disburse funding to developing countries facing pandemic risks.

Source : AIR | 01 Aug 2017
IIS designates 20 universities as GCIE
Twenty universities from around the world have been designated by the International Insurance Society (IIS) as Global Centers of Insurance Excellence (GCIE) in the programme’s inaugural year. The certification programme recognises outstanding risk management and insurance programmes that play an integral role in promoting insurance knowledge and research.

Source : AIR | 01 Aug 2017
Businesses need to prepare for full costs of cyber attacks: Lloyd's
Businesses could face a much higher bill than they expect or are prepared for after falling victim to a cyber-attack, according to new research from Lloyd’s.

Source : AIR | 01 Aug 2017
Automation Insurance: Threat or Opportunity?
The future is becoming less predictable every day. If insurers want to stay relevant to tomorrow’s needs, Mr Benjamin Pring of Cognizant says they must build agility into everything.

Source : AIR | 01 Aug 2017
InsurTech: Not revolution but evolution
They create a better experience for insurance customers by catalysing innovation and technological advancement in the insurance industry. We speak to an incumbent insurer and an InsurTech to get a balanced view of the true potential of Insurtech.

Source : AIR | 01 Aug 2018
Teutonic order: Partnerships to step up protection against climate risk
The theme of this year’s Global Insurance Forum, held in Berlin and hosted by the International Insur-ance Society (IIS) and The Institutes, was the ‘Innovation Transformation’.

Source : AIR | 01 Aug 2018
Product Bites

Source : AIR | 01 Aug 2018
Events

Source : AIR | 01 Aug 2018
Insurance industry's first standard for global cyber data breach released
ACORD, the global standards-setting body for the insurance industry, has announced what is said to be an industry-first standard for cyber data breach. The new ACORD cyber data breach standard was developed in collaboration with Aon and specialist insurer Beazley.

Source : AIR | 01 Aug 2018
Environmental risks may not be covered by general liability insurance: Chubb
Risk managers operating without a specific environmental risk policy should not assume that their environmental exposures would be picked up by general liability insurance, warns a new report.

Source : AIR | 01 Aug 2018
US cyber insurance premiums see 37% increase to $1.84bn - Aon
Aon launched the third edition of its US Cyber Market Update report, which revealed that in an ‘unprecedented year’ for ransomware attacks, the US cyber insurance market continued to grow, with a total of 170 US insurers reporting writing cyber insurance – compared to 140 in 2016, and 119 in 2015.

Source : AIR | 01 Aug 2018
Earnings volatility concerns drive reinsurance buying - Willis Towers Watson
According to a recent international survey of insurers by Willis Towers Watson, pressure from investors are causing insurers to become less tolerant of missed earnings targets. They are moving to more sophisticated metrics such as return on equity and economic capital as a result.

Source : AIR | 01 Aug 2018
The new landscape for health insurers
Wellness not illness. Partnerships not patients. Changing societal trends are disrupting an age-old industry and health insurers are providing an ever-broadening array of services that sets them apart from other parts of the insurance industry.

Source : AIR | 01 Aug 2018
Global insurance M&A at lowest volume in two years - Clyde & Co

The volume of completed mergers and acquisitions (M&A) worldwide in the insurance industry continued its downward trend as insurance businesses continue to pursue a range of routes to growth, according to the Clyde & Co Growth Report mid-year update. Activity is down 24% to 170 deals in the first six months of 2017 compared to 186 in the preceding period and significantly down from 1H 2015 result of 225 deals.

Source : AIR | 01 Sep 2017
CAT bond market hits series of historical highs - Aon
Aon Securities reported that catastrophe bond issuance during 2Q 2017 stood at US$6.38 billion across 20 transactions – a new record for quarterly issuance that easily surpassed the previous record of $4.49 billion set in 2Q 2014.

Source : AIR | 01 Sep 2017
Re-imagining risk
Emerging threats such as cyber, climate change, health and urbanisation, are challenging businesses and insurers. Mr Peter Cheesman of Aon Benfield Australia discusses the changing risk landscape from an insurance perspective.

Source : AIR | 01 Sep 2017
Prevailing through humanity
Despite disruption, the rise of artificial intelligence, agents and advisers will continue to play an important role in life insurance in the near term. This can be achieved by honing in on the human traits in advice that technology can never quite replace.

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Source : AIR | 01 Sep 2017
Building resilience where it matters
There is a need to improve the resilience of not just society, but the natural world too. This was one of the key discussions at the IIS Global Insurance Forum which took place in July in London.

Source : AIR | 01 Sep 2017
July drought and wildfires likely to result in minimum $2.9bn economic loss in Europe
Aon’s latest catastrophe report reveals that many countries saw a worsening in drought-related and wildfire conditions during July, leading to hundreds of deaths and a significant financial impact globally – particularly on the agriculture, forestry, water management, and fisheries industries.

Source : AIR | 01 Sep 2018
Commercial insurance prices continue upward trend
According to the latest Global Insurance Market Index by Marsh, average commercial insurance prices around the world rose during the second quarter this year amid an uptick in insurance pricing for property lines (which continued to be affected by 2017 catastrophe losses) and increases in financial and professional lines.

Source : AIR | 01 Sep 2018
Events

Source : AIR | 01 Sep 2018
Product Bites
- Australia: Chubb announces flight delay insurance
- Japan: Swiss Re Corporate Solutions launches tsunami-derivative solution
- Malaysia: New protection solution introduced for migrant workers
- Singapore: Great Eastern partnership to offer industry-first insurance to freelance caregivers
- Global: Now Health International’s innovative mobile pass enhances customer experience
Source : AIR | 01 Sep 2018
Global: 2017 third-warmest year ever
2017 was the third-warmest year on record for the globe, behind 2016 (first) and 2015, according to the 28th State of the Climate report released recently.

Source : AIR | 01 Sep 2018
Nepal Re: Readying for the long haul
Nepal Re CEO Chirayu Bhandari provides a perspective on the challenges and strategies before the company.

Source : AIR | 01 Sep 2018
The home of Everest beckons
Nepal will be the host for the 21st AIRDC this month in Kathmandu.

Source : AIR | 01 Sep 2018
Agriculture insurance is transforming in China
China’s agriculture insurance continues to grow rapidly and is likely to stabilise at 10-15% in the years ahead. China is also piloting new agriculture insurance schemes such as special crop and livestock insurance, price insurance and revenue insurance.

Source : AIR | 01 Sep 2019
Genetic testing - an opportunity to improve patient experience
Some view it as an emerging risk for the (re)insurance industry while others see it playing an important role in patient care and disease management.

Source : AIR | 01 Sep 2019
Short spells of extreme rainfall cause more damage
The impact of floods in India is set to get more devastating due to climate change and poor civic infrastructure. It would need a herculean effort to prevent the loss of lives and control the damage the floods inflict even as our vulnerability increases.

Source : AIR | 01 Sep 2019

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