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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
Geneva Association: trust building needed to narrow protection gap
Half of the respondents to a Geneva Association survey said an increased level of trust in insurers and brokers would encourage more insurance buying
Munich Re’s Eckl: Japan, Korea, India driving Asia’s cyber market
New rules in South Korea mandated third-party cyber cover for SMEs, while Japan and India are also big buyers
Insurance firms lead spend on cyber security
UK finance and insurance firms invested the most on cyber security in 2018-19, according to a Specops study
Marsh reveals drivers for changing UK D&O landscape
Rising claims are showing no sign of tailing off in a soft market
Fitch bullish on Spanish market
Ratings firm praises maintained strong profitability and continued growth for Spain’s non-life insurers
Special Report: Reinsurance 2030
Reinsurance 2030 is a report published on the future direction of the industry and its use of technology, published by Global Reinsurance in association with the Dubai International Financial Centre Authority
Gallagher to buy Capsicum outright
Capsicum Re has provided an update on Gallagher acquisition discussions
MS Amlin CEO and CUO to step down amid new operating model senior leadership team plans
The reorganisation marks a further step towards its 2023 transformation plan, the London market re/insurer said
Negative outlook from Fitch on UK non-life market
High claims inflation and a weak pricing environment for home and motor insurance in the UK non-life market were cited by Fitch for a negative outlook in 2020
Froehlich joins Aspen Insurance UK as new chairman
New chairman at Aspen’s UK insurance arm is a former performance management director at Lloyd’s
Integro CEO Behrends steps down
Andrew Behrends, chief executive of Integro Group, is stepping down at the end of the year, just two months after announcing a deal to buy rival broker RFIB
Barrett to lead multinational general insurance at AIG
Allison Barrett joins AIG in New York from broker Willis Towers Watson
Okumura appointed CEO of Sompo International
Mikio Okumura will report to John Charman at the Bermuda reinsurer
Aon cyber risk analysis compares California’s CCPA with GDPR, plus New York’s SHIELD
Data protection legislation in California and New York adds to existing cyber risk rules
Moody’s cuts European insurers’ outlook to negative
Interest rates will stay lower for longer and rises in P&C pricing are being met by claims inflation
Praedicat launches first named peril casualty product through Lloyd’s Lab
LA-based insurtech launches Lloyd’s Lab-developed product designed for industrial and chemical product risks typically excluded or in standard covers
AGCS appoints Williams financial lines leader
New Munich-based global financial lines appointment Allianz Global Corporate & Specialty
Two senior Bermuda appointments join Guy Carpenter from Aon
Reinsurance broker announced several senior appointments in Bermuda
Eight consecutive quarters of rising primary pricing – Marsh
Commercial lines insurance pricing was 8% up in the third quarter globally, according to Marsh
Roles blur in London market under pressure – AM Best
Unsustainable costs and an evolving distribution chain are forcing London market insurers into new operating models, according to a report from rating agency AM Best
Ed Bermuda appoints Turner chairman
John Turner joins re/insurance broker Ed Bermuda from his previous chairman role for Aon’s commercial risk solutions UK and Americas business
