Page 5 - Digital Edition SIRC Supplement

WELCOME MESSAGE - RBAS CHAIRMAN

Welcome to proud Singaporeans celebrating the 50th Anniversary of
their successful “Republic of Singapore” and a special welcome to all
of you who have made the journey from overseas to join us.
This year is the 13th SIRC being its 25th year and this year also sees the inauguration
of the ASEAN Economic Community which it is widely accepted, over time, will
have far reaching and positive repercussions on trade, industry and indeed insurance
and reinsurance within our vibrant ASEAN region.

On behalf of all members of the Reinsurance Brokers’ Association (Singapore) –
Aon Benfield Asia Pte Ltd, Asia Reinsurance Brokers Pte Ltd, Cooper Gay (Asia) Pte
Ltd, Guy Carpenter & Co Pte Ltd, Ikatan Asia Pacific Reinsurance Brokers Pte Ltd, J
B Boda & Co (S) Pte Ltd, JLT Specialty Pte Ltd, Lockton Companies (Singapore) Pte
Ltd, Marnix Insurance Brokers Asia Pte Ltd, Miller Insurance Services (Singapore)
Pte Ltd, RKH Specialty Asia Pacific Pte Ltd, Willis (Singapore) Pte Ltd – we wish
you a wonderful time in our “garden city state”.
The Singapore experience
Please take time to sample the Singapore experience, do try the amazing and varied
local food and visit our newly renovated national museum, art centres and places of
international wonder and fame like the awesome Zoo, Night Safari, Botanic Gardens,
Bird Park, Science Centre, countless water parks, go-kart tracks and even the heart
stopping rides and entertainment on the fun and historical island of Sentosa.

Why not try something that you haven’t tried before, visit Raffles for a sling, ride
a bum boat on the Singapore river, stroll over to the spectacular Gardens by the Bay
next to the MBS, or down the promenade and take in a musical or a show at the iconic
Esplanade theatres or dance and sing till dawn, there is plenty of night life out there.

Experience Singapore’s big wheel and for luck even spin the smaller ones at the
casinos or test your golf swing at one of our luscious 27 courses, many are world class.

Please enjoy a spin, sling, sing, swing or stroll in Singapore!
The business front
On the business front, over the next three days of conference, we sincerely hope that
you will find our style of programme conducive to your needs, great value, interesting
and relevant. We welcome your feedback at any time to assist us to improve. May
your days be profitable and nights enjoyable.

Competition within the industry is extreme in all sectors. Justifiably for many,
greater social, managerial, and shareholder pressure means the tried and tested,
traditional values are under close inspection.

The industry finds itself in a moment in time when fiscal liquidity is abundant,
a beauty parade of models and actuarial solutions run the books, markets are soft
and losing value, and combined with innovation within the business delivery space
to challenge investors.

We need to constantly remind ourselves that the real risks of flood, wind,
pandemic, seismicity as well as the financial, holistic and less obvious risks associated
to major losses in areas of conflagration are “when’s” and not “if’s” and they loom
larger than ever.

A strong risk management policy will help us all be more relevant for the next
SIRC! Singapore, a successful multi-ethnic and natural trading cross roads, benefits
from a culture of constant change and innovation, please take a look around you
and take a moment “to be in the moment” and embrace the many local colourful
influences, local customs, surprising sights and delicious flavours that our sensational
island has to offer.

Please do not hesitate to contact any one of us on the Organising Committee or
a member of RBAS. Allow us to assist you if there is any way that we make your
SIRC experience more fulfilling.

Wishing you fond and lasting memories of the 13th SIRC!

Richard N C Austen
Chairman of the Reinsurance Brokers Association (Singapore)

SIRC Supplement • November 2015 • www.asiainsurancereview.com 3