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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
Taiwan: Regulator signs insurance MoU with Philippine counterpart
Taiwan’s financial supervisory authority has signed a memorandum of understanding (MOU) with the Philippines to promote bilateral cooperation in the cross-border supervision of the insurance business.

Source : AIR | 01 Jan 2018
Philippines: Regulator urges insurers to offer terrorism cover
The Insurance Commission urged insurance companies to develop products that will afford protection against losses and damages as a result of acts of terrorism.

Source : AIR | 01 Oct 2017
A national leader of the industry
The National Reinsurance Corporation of the Philippines got itself a new CEO in August when Allan Rossi Santos took over. Asia Insurance Review sat down with him to discuss the state of the Philippines reinsurance industry, and his plans for the company.

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
Philippines: Call for dashcams to be made mandatory in vehicles
Fortune General Insurance (FGen) has urged regulators to make mandatory the use of dashboard cameras in motor vehicles to speed up and simplify insurance claim processing.

Source : AIR | 01 Dec 2017
Philippines: Insurer works with IFC to reach out to women
Insular Life, the first and largest Filipino life insurer, and the World Bank’s International Finance Corporation (IFC) have entered into a partnership to educate and offer risk-mitigating solutions for women in the Philippines.

Source : AIR | 01 Feb 2018
Delivering 6,700% growth in microinsurance
Mr Bert Opdebeeck of Microinsurance Master, shares the compelling tale of Pioneer Microinsurance’s success in the Philippines.

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
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
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
Asia: Are you ready for the MAY EAIC in Manila?
“The EAIC (East Asian Insurance Congress), I may say, was born in Tokyo, but it was just in symbol. It was in Manila that it attained substance and manhood.”

Source : AIR | 01 Apr 2018
Philippines: Debate over degree of capitalisation of insurers continues
The Philippine insurance industry is likely over-capitalised, says Mr Reynaldo A de Dios, an insurance industry doyen.

Source : AIR | 01 Apr 2018
Finalists for the 3rd Asia Trusted Life Agents & Advisers Awards 2018 announced
A total of 46 candidates from 11 markets have edged out 400 contenders from 50 companies and made it to the finals of the 3rd Asia Trusted Life Agents & Advisers Awards 2018. The awards offers a neutral platform to recognise the best in life insurance agency and advisory across the region.

Source : AIR | 01 May 2018
Philippines: Sun Life leads life market in 2017
Sun Life of Canada (Philippines) remains the top life insurance company in the Philippines with premium income of PHP32bn ($616m) in 2017, based on a data released by the Insurance Commission.

Source : AIR | 01 May 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
The young are a tough nut to crack
The Philippine Life Insurance Association’s George Mina provides a unique view of life insurance penetration and distribution channels in Philippines.

Source : AIR | 01 May 2018
Insurance literacy: Mind the gap
Philippine Insurers and Reinsurers Association chairperson, Ms Rebecca B Dela Cruz, on the importance of insurance literacy, microinsurance and crop insurance.

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
From perilous cyclones to pervasive iPhones - a market to be tapped
The Philippine’s insurance commissioner Mr Dennis Funa talks frankly about the challenges facing the industry as well as the tremendous growth opportunity it faces.

Source : AIR | 01 May 2018
Philippines: Pre-need firms allowed higher investment limits
The pre-need sector – nonlife firms that offer services such as pension, education and memorial plans – now enjoys a higher cap on the amount of funds that they can set aside for investments.

Source : AIR | 01 Jun 2017
Philippines: Online community portals to market microinsurance
Pru Life Insurance Corp of the UK, the Philippine subsidiary of British insurer Prudential, and German government development agency Gessellschaft für Internationale Zusammenarbeit (GIZ) intend to bridge the protection gap among Filipinos by distributing microinsurance via online community portals.

Source : AIR | 01 Jul 2017
Philippines: Telemarketing draws several insurance players
There are at present 13 insurance companies and one insurance broker engaged in selling insurance products through telemarketing, according to the Insurance Commission (IC).

Source : AIR | 01 Jul 2018
Where does the pursuit of digitalisation lead?
The insurance industry’s pursuit of digitalisation continues even as the hype around disruptors fades. But where are insurers’ investment dollars being channelled and what exactly are they looking to achieve? Are some parts of the insurance value chain more equal than others?

Source : AIR | 01 Jul 2018
Asia: Next EAIC set for May 2018
The EAIC Executive Board has set the dates for the 29th East Asian Insurance Congress to be from 6-9 May 2018 in Manila, in summer rather than in the traditional fall period. The decision was made at a board meeting in Manila last month.

Source : AIR | 01 Aug 2017
Asia: Protecting crops and farmers
Fifteen members of the collaborative UNDP-FAO Integrating Agriculture in National Adaptation Plans (NAP-Ag) Programme from Nepal, the Philippines, Thailand and Viet Nam were involved in a recent peer-to-peer exchange to discuss how proper application of climate information and applied research could inform better decision making and reduce loss.

Source : AIR | 01 Aug 2017
Philippines: Number of non-life insurers to dwindle for want of funds
Five non-life insurers have decided to voluntarily exit the insurance business, mostly because they are unable to comply with requirements to increase net worth, said the Philippine Insurers and Reinsurers Association (PIRA). They are currently servicing existing policies, reported Rappler.

Source : AIR | 01 Aug 2017
Philippines: Agri insurance is a national issue, says insurance commissioner
Agricultural insurance is no longer only a problem for farmers but has become a national issue that needs to be addressed, insurance commissioner Dennis Funa has said.

Source : AIR | 01 Aug 2018
Philippines: 50% of ridesharing operators take up required insurance
The Insurance Commission is urging Grab and Uber operators to secure insurance coverage required of public utility vehicles (PUVs), saying that only about half of them had so far complied with the passenger personal accident insurance programme (PPAIP).

Source : AIR | 01 Sep 2017
Phillppines: Some insurers exposed to public school loans
Salary loans to public school teachers has become a social issue, and four or five insurance companies have exposures in such loans, according to the insurance commissioner, Mr Dennis Funa.

Source : AIR | 01 Sep 2018

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