Asia-Pac captive domiciles to see growth, says Best

Asia-Pac captive domiciles to see growth, says Best

Asia-Pac captive domiciles to see growth, says Best

Captive domiciles in Asia-Pacific are set to benefit from growth in Asia’s economies, according to AM Best. The ratings agency said it expects to see significant growth of captive formations in Asia-Pacific domiciles such as Singapore, Labuan and Hong Kong, as economies grow and businesses seek new and more sophisticated ways of risk management and control. Best noted that to…

Ping An is most valuable insurance brand, again

Ping An is most valuable insurance brand, again

Ping An is most valuable insurance brand, again

Ping An is the world’s strongest and most valuable insurance brand, according to the latest report by Brand Finance, the brand valuation consultancy. Ping An retained its leading position and saw its brand value increase 93% to $50.5bn in 2019. Brand Finance said Ping An is seeing its investment in technology begin to pay off and reap benefits. “To attract…

HK investor sues robo-adviser in potential landmark case about AI liability

HK investor sues robo-adviser in potential landmark case about AI liability

HK investor sues robo-adviser in potential landmark case about AI liability

A proposed legal case in Hong Kong could give a significant insight into one of the most debated issues around liability – namely, who do you blame when a robot goes wrong? Hong Kong investor Samathur Li Kin-kan is suing Italian fund manager Raffaele Costa over losses incurred through the latter’s robo-advisory service, where investment decisions are made entirely through…

Record insurtech investment levels belie lack of obvious value: WTW

Record insurtech investment levels belie lack of obvious value: WTW

Record insurtech investment levels belie lack of obvious value: WTW

Investment in the insurtech sector reached record highs in Q1 2019 yet there is a lack of obvious value in the many of the newest insurtech offerings, according to a recent report. The latest Quarterly Insurtech Briefing from insurance broker Willis Towers Watson (WTW) shows that the highest number of transactions yet (85 with a total value of $1.42bn) were…

Philippines to join ASEAN disaster risk facility

Philippines to join ASEAN disaster risk facility

Philippines to join ASEAN disaster risk facility

The Philippines Government has announced its intention to join with Japan and five other Association of Southeast Asian Nations (ASEAN) member states in an insurance facility designed to strengthen resilience against climate and disaster risks. The announcement was made by finance secretary Carlos Dominguez III, who stated a commitment to sign a memorandum of understanding (MoU) on the establishment of…

Moody’s report examines Japan and China’s solvency regimes

Moody’s report examines Japan and China’s solvency regimes

Moody’s report examines Japan and China’s solvency regimes

Japan and China, the two largest insurance markets in Asia, have taken different approaches to solvency regimes that reflect the unique fundamentals of their markets, according to a new report from Moody’s Investors Service. The report compares China’s insurance solvency regime and Japan’s solvency practice to the European Solvency II regime. It notes that China’s Risk Oriented Solvency System (C-ROSS)…

China to expand the liberalisation of its financial sector

China to expand the liberalisation of its financial sector

China to expand the liberalisation of its financial sector

The deputy governor of China’s central bank has said the country will further expand the opening-up of its financial sector “in a systemic manner at the institutional level”, according to the Xinhua News Agency. The deputy governor of the People’s Bank of China, Chen Yulu,, was speaking at a meeting of the International Monetary and Financial Committee, the policy-setting body…

Berkshire Hathaway launches transactional liability in Asia and Middle East

Berkshire Hathaway launches transactional liability in Asia and Middle East

Berkshire Hathaway launches transactional liability in Asia and Middle East

Berkshire Hathaway Specialty Insurance Company (BHSI) has begun offering transactional liability insurance through its Asia and Middle East regions. It has appointed Steven Harwood as head of transactional liability in Asia and the Middle East. He is based in BHSI’s office in Hong Kong. “Properly navigating the risks of corporate transactions is critical to growing companies and industry leaders alike,”…

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