Stories from SIRC 2019
Q&A with Munich Re’s Farny: contrasting Asian insurtech with Europe
Tobias Farny is Munich Re’s chief executive for the Asia Pacific markets of China, Hong Kong, Taiwan, Australia and New Zealand
Resilience focus amid worsening global macro conditions – Swiss Re
Chief economist briefing emphased the ‘R’ word(s): trade war is risk number one; recession in the US 35% likely; and resilience in the global economy is worse than before the financial crisis
Broker role under threat? - SIRC panel debate
A panel debate at the end of the SIRC conference asked whether traditional broking is dead and how it should evolve
Asia remains “pivotal” to Neal’s Future at Lloyd’s plan
Lloyd’s CEO John Neal addressed SIRC 2019 about Asia’s place within the Blueprint One strategy for the future at Lloyd’s
Singapore pushing itself as ILS hub; new lines added to Belt & Road consortium
A government minister’s speech at SIRC 2019 emphasised three issuances so far, encouraging more Asian cat bond business to come to the Southeast Asian city-state
GR at SIRC 2019: Day 3 live & free to read
Catch up with all the news on the third day of the 16th Singapore International Reinsurance Conference (SIRC)
Pointless continuing reinsurance relationships on bad terms – PartnerRe’s Beedle
Pricing inadequacy means saying no to some business, stresses PartnerRe’s Asia Pacific CEO
Q&A with TMK: Cyber risk does not recognise borders
There has never been a better time to buy cyber insurance. Despite this, there is still a concerning lack of take-up among Asia’s insurance buyers, according to Alex Jomaa (pictured), cyber underwriter at Tokio Marine Kiln
Al Zain’s mission to rebuild Trust Re
Transparency for investors and clients together with “institutionalising” corporate governance, are at the centre of Trust Re’s new chief executive’s plan to return the reinsurer to a growth trajectory
GR at SIRC 2019: Day 2 live & free to read
Catch up with all the news on the second day of the 16th Singapore International Reinsurance Conference (SIRC)
The future of the industry - SIRC 2019 opening debate
This year’s event is “the largest SIRC ever”, organisers boast, welcoming 1,130 delegates from more than 400 organisations and 53 countries to Singapore
Hong Kong situation highlights competing regional hubs
Tony Gallagher, reinsurance broker Guy Carpenter’s CEO of Asia Pacific answers GR’s questions, as the region’s reinsurance players meet for the annual SIRC rendezvous in Singapore
Axis Re targets Asian health business, sets new priorities amid shifting standards
China, India and Vietnam represent health reinsurance opportunities
New Dawn Risk focusing on fac to treaty transformation
Smaller Asian insurers have had limited provision under reinsurance treaties to write professional lines business, relying on fac placements, something broker New Dawn Risk is trying to change
Emerging Asia dominates Aon study of geographic opportunities
Malaysia, Indonesia, and Singapore were ranked in top positions in a country opportunity index
Aon: Developing the Asian modelling landscape
Catastrophe risk poses one of the big challenges for Asia Pacific’s economies. Modelling solutions need to keep up with the reinsurance market’s developing exposures, Brad Weir, Head of Analytics for Asia at Aon’s Reinsurance Solutions business tells GR.
GR at SIRC 2019: Day 1 live & free to read
Catch up with all the news from the first day of the 16th Singapore International Reinsurance Conference (SIRC)
The Hong Kong protests: What if the government labels them terrorism?
Defining the pro-democracy protests as terrorism could impact insurance policies, as the cost of the demonstrations continues to rise
Winds of change: 16th SIRC welcomes delegates with 2019 theme
Q&A with Marc Haushofer, SRA chairman and honorary advisor to the organising committee for the 16th Singapore International Reinsurance Conference (SIRC)
AXA XL: Addressing emerging Asia’s protection needs
Q&A with Peter Schmidt, chief executive, MEA, APAC, LATAM, Credit & Surety, AXA XL Reinsurance, a division of AXA
Insurance should cater to Asia’s emerging middle class – Peak Re
The insurance protection gap in emerging Asia has been exasperated by insufficient protection through social security, according to Hong Kong-based reinsurer Peak Re
GIC Re: Pricing has not matched growth
Q&A with GIC Re General Manager Satyajit Tripathy, who explains that even after significant loss events Asian prices have barely budged
Beazley reveals Asia Pacific growth strategy amid underwriting expansion
Beazley is expanding its Asia Pacific underwriting footprint. The specialist insurer said it has made a strategic investment in the region to facilitate its expansion.
Aon: Matchmaking for life
Asia’s life and health (L&H) reinsurance market is changing, with fresh entrants and a change of products being sold on the primary side, according to Pierre Vende, Head of Accident, Health and Life, Aon Reinsurance Solutions.
Japan’s Typhoon Hagibis to cost insured losses of $8-16bn, according to AIR
Catastrophe risk modeller AIR Worldwide said more than half of the losses would come from inland flooding
Latest news
Senior level decisions amid Covid-19 could spark fresh class action
Marsh discussed some exclusions that may arise and legal issues during its briefing on the pandemic last week
KBRA Releases Research – Coronavirus (COVID-19): Global Insurance Update
Kroll Bond Rating Agency (KBRA) releases updated views about COVID-19’s implications for the global insurance sector.
Working from home hard to implement for some businesses during Covid-19
In a briefing last week, Marsh also revealed the four areas that businesses should prioritise during this global outbreak including regular communication with staff
How is coronavirus impacting key business sectors?
Covid-19 is leaving an unstoppable imprint across global businesses – Sister title, Insurance Times reviews the current lay of the land in the industry sectors most affected
EIOPA statement on actions to mitigate the impact of Coronavirus/COVID-19 on the EU insurance sector
Insurers are likely to face progressively difficult conditions in the immediate future, both in terms of navigating challenging market conditions and in maintaining operations, while taking steps to protect employees and customers.
NEWS BITE: Lloyd’s to close Underwriting Room
Following UK government advice on COVID-19, Lloyd’s Executive Committee has today decided to close the Underwriting Room with effect from 16:00 (GMT) on Thursday 19 March. We’re confident our emergency trading protocols will enable the market to continue trading.
AM Best to Deploy Pandemic-Related Stress Test for Rated Insurance Companies
AM Best is developing stress testing that it will conduct on its rated insurance companies’ balance sheets to gauge the impact of the COVID-19 virus fallout on their risk-adjusted capital levels, investment portfolios, reserve adequacy and other aspects of the risks borne by rated entities.
Fitch Ratings: Markets, Not Coronavirus Mortality, Is the Risk to European Reinsurers
Financial market disruption stemming from the spread of the coronavirus is the main threat to the credit profiles of European reinsurers, Fitch Ratings says.
Coronavirus: No insurance cover for most virus-hit businesses
Most businesses do not have insurance cover to compensate them for coronavirus losses
Coronavirus impacts more devastating than 9/11 says independent expert
Coronavirus-related impacts on insurers’ investment businesses could see premiums skyrocket
Lloyd’s launches new report on the renewable energy sector
As energy systems change globally to incorporate renewable technologies, opportunities are arising for insurers to innovate products and to support this industry.
Multi-Strat Holdings announces a majority acquisition of the company by Canopius
MultiStrat’s innovative products can now be scaled more rapidly with the support of Canopius’ expertise and resources.
Everest Re Group names Don Mango Chief Risk Officer and Chief Actuary
Mango will report to Everest Re Group President and CEO Juan C. Andrade
IGI Receives Provisional NAIC Approval to Write U.S. E&S Business
Effective April 1, 2020
IRDAI proposes ‘ease of doing business’ for global reinsurers
A committee of the Insurance Regulatory and Development Authority of India (IRDAI) has proposed to put in place a system in place which would help foreign reinsurance company branches, reinsurers and Lloyd’s India in carrying out their operations seamlessly.
Lloyd’s to shut underwriting room to test coronavirus contingency plan
The underwriting room and other public areas will also get a deep clean
Analysis: High profile data breaches pushes cyber up the agenda
Boots takes action after card security breach
Aon snaps up Willis in mega $80bn deal
Aon chief executive Greg Case believes combined firms will boost solutions for customers
Guy Carpenter partners with Charles Taylor InsureTech on future proofing proposition
It will mean greater operational efficiencies and cost savings for Guy Carpenter
Ed Broking appoints London-based divisional directors
The two new starters have a combined 19 years of industry experience
Oman Insurance reports a Net Profit of AED190.5 million for 2019
One of the best performing in 5 years
