Political risks rise as oil prices fall warns Marsh

Political risks rise as oil prices fall warns Marsh

Political risks rise as oil prices fall warns Marsh

Changing trends in the oil and gas industry, largely driven by lower oil prices, have presented risk managers with a new set of risks that need to be addressed, according to a report from broker Marsh. Political and socioeconomic risks have emerged, particularly in countries that have a high dependence on oil and gas, following the dip in oil prices…

The keys to the kingdom – risk manager profile

The keys to the kingdom – risk manager profile

The keys to the kingdom – risk manager profile

One of the most notable traits of Asia’s growing risk management industry is the eclectic nature of its protagonists. It is rare that anyone responsible for a company’s risk management does not have other responsibilities thrust on their shoulders. In the case of Parikshit Sen Gupta, vice-president, finance for the Shangri-La Group, his work for the Hong Kong-based hotel group…

EU and Japan target speedy conclusion of trade negotiations as protectionism rises

EU and Japan target speedy conclusion of trade negotiations as protectionism rises

EU and Japan target speedy conclusion of trade negotiations as protectionism rises

As risk managers try to work out the implications of growing protectionism in key global markets, the European Union and Japan have decided to seek a speedy conclusion to their latest trade talks. EU Presidents Jean-Claude Juncker and Donald Tusk meet today with Japan’s Prime Minister Shinzo Abe. Negotiations for a bilateral trade deal will feature high on the agenda.…

Insurance is too cheap, says Parima chairman

Insurance is too cheap, says Parima chairman

Insurance is too cheap, says Parima chairman

Franck Baron, chairman of the Pan-Asia Risk and Insurance Management Association (Parima), has taken the unusual step of suggesting that insurance rates are too low. Speaking to Commercial Risk Asia, ahead of the association’s conference in Manila, [see p14] he said risk managers must be prepared to pay the proper price for a proper insurance programme if they are to…

Hong Kong FDSC calls for government support to promote captives business

Hong Kong FDSC calls for government support to promote captives business

Hong Kong FDSC calls for government support to promote captives business

The Hong Kong Financial Services Development Council (FSDC) has revealed plans to fight back against progress made by Singapore in recent times, and to use tax breaks to attract reinsurance, marine and captive insurance business back to the domicile. Risk managers in China, the wider Asia-Pacific region and worldwide will be interested to see that the FSDC, formed by the Hong…

Seize the day – Parima interview

Seize the day – Parima interview

Seize the day – Parima interview

The current era of uncertainty is a great opportunity for Parima and its members to seize the initiative and demonstrate the worth of risk managers. 2017 has begun at a breakneck pace for the risk management community, including the Pan Asian Risk and Insurance Management Association (Parima). The association’s annual congress in Singapore in late November came in the wake…

Philippines mining spat underlines rising environmental risk in Asia

Philippines mining spat underlines rising environmental risk in Asia

Philippines mining spat underlines rising environmental risk in Asia

The scale of the effort to persuade Asian businesses to take a more long-term view of their activities particularly in relation to the environment and climate change has been made clear as the Chamber of Mines of the Philippines sued Environment Secretary Regina Lopez because of her recent effort to close 23 mining companies and suspend five others for violation…

Guernsey in captive cooperation agreement with Beijing Airport Economic Core Zone

Guernsey in captive cooperation agreement with Beijing Airport Economic Core Zone

Guernsey in captive cooperation agreement with Beijing Airport Economic Core Zone

Guernsey has signed a memorandum of understanding (MoU) with the Beijing Airport Economic Core Zone (BAECZ), a key Chinese business centre. According to Guernsey Finance, the MoU sees the parties agree to cooperate in the areas of captive insurance market development, financial innovation and international information exchange, to promote the viability of the Chinese captive market and wider communication between…

Firms failing to tackle endemic workers’ human rights violations in Asia

Firms failing to tackle endemic workers’ human rights violations in Asia

Firms failing to tackle endemic workers’ human rights violations in Asia

Violations of workers’ human rights are endemic across most Asian countries and initiatives to tackle the issue at source, and within supply chains, are not fit for purpose, warns UK-based consultant Verisk Maplecroft. In its Human Rights Outlook 2017, the firm stresses that risks are particularly acute down the Asian supply chain, where modern slavery is rife and migrant workers…

Guernsey steps up Chinese captive campaign as MoU signed with CIRC

Guernsey steps up Chinese captive campaign as MoU signed with CIRC

Guernsey steps up Chinese captive campaign as MoU signed with CIRC

The Guernsey Financial Services Commission (GFSC) has signed a Memorandum of Understanding (MoU) with the China Insurance Regulatory Commission (CIRC) of the People’s Republic of China. Guernsey hopes that this latest agreement, coupled with its decision to recently set up a promotional agency in Hong Kong and the launch of a Mandarin website, will help attract Chinese insurers, captives and…

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