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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
Asia: Microinsurers cite profits, branding and CSR as goals
Most respondents to a recent survey on microinsurance in the Philippines, Indonesia and Sri Lanka, place more importance on “Business (profitability)” as their reason for entering this market, said FALIA (The Foundation for the Advancement of Life & Insurance Around the world). But most also gave some weight to “Branding” or “CSR” (corporate social responsibility) as a reason.

Source : AIR | 01 Jan 2018
Sri Lanka: Reinsurance cushions insurers from weather losses
Most Sri Lankan nonlife insurers should be able to absorb near-term volatility and the effects of adverse weather-related events given extensive use of reinsurance, said Fitch Ratings. However, frequent occurrence of major catastrophic floods could affect insurers’ capital. Reinsurance premiums paid by primary insurers are also likely to increase.

Source : AIR | 01 Oct 2017
Sri Lanka: New tax law pressures insurers
Sri Lankan insurance companies are likely to face higher tax expenses under a new Inland Revenue Act, that was passed by Parliament last month and that will take effect next 1 April.

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
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
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
Bancassurance blockbuster partnership
Bancassurance is one of the main distribution channels for insurers in South Asian markets. We speak to some major players to get their perspective on the state of the market and the future for bancassurance.

Source : AIR | 01 May 2018
Banc-ing on life growth
Bancassurance attracts some of the biggest insurers and banks with its allure of a strategic win-win, faster growth and scale economies – we look at the state of bancassurance in some Asian markets.

Source : AIR | 01 May 2018
Sri Lanka: Insurance market expected to maintain growth momentum
Sri Lanka’s insurance sector is expected to continue its growth momentum, driven primarily by the rising per capita income, growing awareness on insurance and considerably lower insurance penetration, said Fitch Ratings.

Source : AIR | 01 Jul 2018
Sri Lanka: World Bank calls for national disaster risk funding strategy
Sri Lanka should develop a national disaster risk financing strategy and explore catastrophe risk insurance options for public assets given losses caused by recent natural disasters whose frequency is increasing, said the World Bank in its latest development update.

Source : AIR | 01 Aug 2017
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
Asian Insurers: Greater Expectations!
Reinsurers play an increasingly important role in most insurance markets in Asia and each year the expectations grow. So this year, in our coverage to kick start the renewal season with Monte Carlo, we polled a team of “seven wise” insurers around the region from big and small markets to gauge their expectations. Reinsurers have big shoes to fill. The market awaits.

Source : AIR | 01 Sep 2017
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
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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