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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
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
Moving into a high growth phase
The 24 life players in the Indian market have witnessed considerable growth in the past year and today the industry forms a significant part of the capital market in India.

Source : AIR | 01 Jan 2019
A market ripe for InsurTech pickings
InsurTech is making rapid progress and fuelling massive investments into start-ups that are now changing market dynamics.

Source : AIR | 01 Jan 2019
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
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
Interview with the Nepalese Regulator: A proactive regulator bodes well for the market
In this exclusive interview with Mr Chiranjibi Chapagain, Chairman of the Beema Samiti (Insurance Board), he shares with us what he has done so far since he came on board in Jan 2017 and his thoughts and plans going forward.

Source : AIR | 01 Dec 2017
Nepal: New companies add lustre to market
The Finance Ministry of the government of Nepal granted operating licences to nine new life insurers and issued letters of intent to three non-life insurers which created a huge buzz in the market. Some of these companies have been waiting for almost a decade for approval from the government and this move has been seen as a bold step which experts believe will increase insurance awareness and penetration across the country. We speak to two senior level executives from the industry on the state of the market and the way ahead for the industry.

Source : AIR | 01 Dec 2017
Bangladesh: Insurance industry takes flight
Regardless of Bangladesh’s political and economic challenges, the insurance industry has huge potential for growth and shows no signs of slowing down in the year ahead. The market currently has two state-owned companies, 45 private non-life and 31 private life insurers.

Source : AIR | 01 Dec 2017
Bhutan: Industry maintains growth momentum
The insurance industry in Bhutan, which is among the smallest countries in the world, has been growing at an average of 20% in the past five years and is expected to maintain this momentum going forward. There are currently two insurance companies operating in the market. GIC Bhutan Re is the sole reinsurer in the market.

Source : AIR | 01 Dec 2017
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
Bangladesh: New law makes insurance mandatory for shipbreakers

Source : AIR | 01 Mar 2018
India: Insurance mart could expand by 230% to US$280 bln in 3 years
India’s Vice President M Venkaiah Naidu has said that the domestic insurance industry is expected to grow to US$280 billion by 2020 from $84.72 billion in 2017 as the country is poised for higher economic growth.

Source : AIR | 01 Mar 2018
Pakistan: Infrastructure projects to generate additional premiums of up to US$600 mln
The China Pakistan Economic Corridor (CPEC), established in 2017, with a number of significant projects starting to kick off, is expected to generate up to US$600 million in additional insurance premiums in the coming years as China invests billions of dollars in creating new motor, rail, power, and energy infrastructure in the country. This estimate is provided by Aon in its Asia Market Review 2018.

Source : AIR | 01 Mar 2018
Sri Lanka: Market expects more foreign interest in non-life sector
The sale of Janashakthi General Insurance last month to global insurer Allianz has set off wide speculation of huge foreign interest in the Sri Lankan market.

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
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
An army of actuaries rising
As a curtain raiser to the South Asian Actuarial Conference which will be held in Sri Lanka in July, we speak to a few actuaries from South Asia to understand the ground realities in their markets.

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
Sri Lanka: New regulator outlines priorities
Insurance Regulatory Commission of Sri Lanka chairman Mano Tittawella reveals that increasing awareness and building public confidence about insurance are his priorities. He is also a strong proponent of the involvement of foreign players in developing the local market.

Source : AIR | 01 Aug 2018
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
View from India: Hotspots will be hot to handle
Eight hundred million people in South Asia are at risk since the areas in which they live are projected to become ‘moderate’ to ‘severe’ hotspots by 2050 according to a World Bank study ‘South Asia’s Hotspots’. Six hundred million of these live in India.

Source : AIR | 01 Aug 2018
South Asia: A booster dose for agriculture insurance
The impact of climate change is making life increasingly difficult for farmers in South Asia. We look at a few markets in the region to understand the impact of agriculture insurance on the local population.
- The Pradhan Mantri Fasal Bima Yojana scheme
- Green Delta Insurance’s weather index-based agriculture insurance and yield index-based agriculture insurance.
- Agricultural and Agrarian Insurance Board’s cover for farmers of six crops - rice, onions, potatoes, chillies, maize and soybeans.
Source : AIR | 01 Sep 2018
Regulator's initiatives to strengthen sector
Nepal Insurance Regulatory Board chairman Chiranjibi Chapagain provides an update on the state of the market and the way forward for the industry.

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

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