Page 3 - Digital Edition SIRC Supplement

SIRC is in town again and this time with a whole troupe of big names and EDITORIAL
leading lights to wow the audience
The Singapore International Reinsurance Conference has come a long Asia Insurance Review
way from its humble origins in 1991 where the theme was on the Challenges of
Reinsurance in the 90s which then was about the effects of the world catastrophes Special SIRC Commemorative Issue
(even before Andrew) and their impact on capacity with fears that there just was not www.asiainsurancereview.com
enough to go round as run-offs were being whispered in corridors too.
ISSN 0218–2696
Today, we gleam with no major CATs to moan about and with excess capacity in Price: US$45.00
the market and the capital market players banking on reinsurance as their favoured Publisher
stand-alone investment play happy with just a 2 to 4% return though insurers Ins Communications Pte Ltd
are looking at 14% average ROE. Strikingly, reinsurers have also come to accept 69 Amoy Street
alternative capital – pensions and hedge funds – as the norm in the RI market though Singapore 069 888
well aware that this “casual but big” money might leave when something hot and Tel: (65) 6224 5583 • Fax: (65) 6224 1091
new comes along. Email: admin@asiainsurancereview.com

Big getting more beautiful Founder
SIRC is in town and it is interesting to note that based on Monte Carlo’s figures for Mr Hwang Soo Jin
2014, there are now two Asian names in the official list of top 10 global reinsurers Director, Singapore Reinsurance Corp Ltd &
– China Re and Korean Re. Life President, Ins Communications Pte Ltd

With big getting more beautiful, the concentration in reinsurance market has Editorial Consultant
increased with the top 10 accounting for 65%. The top three – Munich, Swiss and Mr Reynaldo De Dios
Hannover – took more than two thirds of the US$500 billion global reinsurance Founding Editor of Insurance Asia
premiums in 2014.
Editor-in-Chief
With China and India being the engines of global growth, the reinsurance scene Mr Sivam Subramaniam
is shifting too. And with the ASEAN Economic Community set to be launched in sivam@asiainsurancereview.com
December, there will be greater integration and economic dynamism in Southeast
Asia adding to the pull of Asia. Asia’s share of the global reinsurance market has Editorial Team
more than doubled in just three years to almost 20% with an estimated $50 billion Deputy Editor
in premiums. So is it time Asia set some lead directions and guidance for the rest Mr Benjamin Ang
of the world? ben@asiainsurancereview.com
Deputy Editor, ASEAN
At the Reinsurance Roundtable hosted by Asia Insurance Review, there was a Mr Ridwan Abbas
consensus that though reinsurance is very much a global market, Asia has much ridwan@asiainsurancereview.com
to be proud about though there are still challenges to overcome, least of all getting Journalist
clients to appreciate a technical price for risks, winning the trust of clients for the Ms Dawn Sit
long term and improving the quality of data collected and underwriting results. dawn@asiainsurancereview.com
Asia is standing tall. Correspondent
Ms Chia Wan Fen
Managing Risks in an Uncertain World fen@asiainsurancereview.com
Coming back to this SIRC in town, the theme of “Managing Risks in an Uncertain
World” was specifically chosen to reinforce the unpredictability of risks and the Business Development & Conferences
need to inject some degree of risk management and certainty in dealing with the Ms Sheela Suppiah-Raj
vagaries of the risk game where despite all the odds, real risk carriers have the sheela@asiainsurancereview.com
answers for sustainable profits. Mr Koh Earn Chor
koh@asiainsurancereview.com
The programme has something for everyone, even regulators on dealing with Ms Alda Yeo
innovative reinsurers fairly without undue capital charges. Suddenly the worry in the alda@asiainsurancereview.com
free world of reinsurance is “creeping protectionism”. The wisdom of reinsurance Mr Daniel Tan
and its needs even for balance of payments will prevail when the hard times come. daniel@asiainsurancereview.com
As an insurance journalist for the past 25 years, I know the CYCLE must go on in
Circulation
all its differing forms. At the 2nd SIRC in 1993 after Andrew and all, cedants Mr Junaid Farid Khan
and regulators were begging the internationals for “give us more” capacity: junaid@asiainsurancereview.com
And Bermuda was born. Ms Vimala Vellu
I take this opportunity to wish you all the very best for the SIRC and vimala@asiainsurancereview.com
the renewals. Make the rendezvous count!
Product Sales
Sivam Subramaniam Ms Sandy Chen
Editor-in-Chief sandy@asiainsurancereview.com
Asia Insurance Review
Design & Layout
Mr Kaze Sun
kaze@asiainsurancereview.com

Overseas Correspondents / Representatives
Australia/ Ms Daveen Drummond
New Zealand daveen@asiainsurancereview.com

South Asia Mr Jimmy John
jimmy@asiainsurancereview.com

Philippines Mr Reynaldo De Dios
admin@asiainsurancereview.com

Printer
Hock Cheong Printing Pte Ltd
Disclaimer: Opinions expressed in Asia Insurance Review
are not necessarily those of the publisher. Publication of an
advertisement or a write-up does not imply that the service
or product is recommended by the publisher unless so stated.
© 2015 Ins Communications Pte Ltd
All rights reserved. No part of this publication may be
reproduced, stored in a retrieval system, or transmitted, in any
form or by any means, electronic, mechanical, photocopying,
recording or otherwise, without prior permission of the
publisher.

SIRC Supplement • November 2015 • www.asiainsurancereview.com 1