Page 4 - AEC Digital Edition

CONTENTS

3 A dream come true

Special Message by Ms Evelina F Pietruschka, Secretary General,
ASEAN Insurance Council

4 AEC fact sheet
5 Myths & reality of the AEC

Ms Sanchita Basu Das of The ASEAN Studies Centre, ISEAS – Yusof
Ishak Institute explains five crucial facts about ASEAN economic
cooperation and the AEC – which irrespective of any criticism, will
proceed as planned.

8 Preparations for AEC – 5 strategic tips

ACR Capital Holdings’ Mr Hans-Peter Gerhardt details how insurers
can prepare for the AEC from both an organisational and industry
perspective.

10 Opportunities in the age of AEC – A risk point of view

Marsh, a global leader in insurance broking and risk management,
offers advice for corporates, insurers and regulators to strategically
align themselves in the era of a more economically integrated
Southeast Asian region.

14 Implementation of the AEC and impact on the insurance
industry – Are we ready?

DLA Piper Partners Peter Shelford and Joyce Chan, and Consultant
Robert Tang, evaluate some of the challenges towards greater
liberalisation of the insurance market, while affirming the need for
companies to be ready to take advantage of the changes as the market
slowly opens up.

18 First steps towards a more integrated life market

Milliman’s Messrs Richard Holloway, Michael Daly and David Kong
offer ideas for the integration process to start in the life insurance
sector, considering the diversity amongst ASEAN’s fast-growing
markets.

20 Regulatory harmonisation a key element in insurance
market integration

In an inspiring address at the opening ceremony of the 18th ASEAN
Insurance Regulators’ Meeting (AIRM) and the 41st ASEAN Insurance
Council (AIC) Meeting, hosted in Phnom Penh, Cambodia’s Minister of
Economy & Finance, Dr Aun Porn Moniroth urged for collaboration
amongst regulators in ASEAN to improve insurance supervisory
standards, and to constantly engage insurers in the path towards a
more liberal insurance sector in the region.

23 Capitalising on the benefit and opportunity in an ASEAN
open market

A.M. Best’s Chi-Yeung Lok encourages insurers in Southeast Asia
to view the AEC as means towards improving industry efficiency,
resilience and standards.

25 ASEAN market reports

Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines,
Singapore, Thailand, Vietnam

35 Sponsors’ profiles

2 AEC – IMPACT ON INSURANCE • DECEMBER 2015