Mitsui snaps up ILS fund manager as insurers pile into ILS business

Mitsui snaps up ILS fund manager as insurers pile into ILS business

Mitsui snaps up ILS fund manager as insurers pile into ILS business

Japanese insurer Mitsui Sumitomo has made a majority acquisition of insurance-linked securities (ILS) fund manager Leadenhall Capital partners (LCP) to further boost its own ILS business. The deal also comes at a time when some of the world’s biggest insurers are making their own acquisitions in the sector, in what could have major implications for the specialist insurance market. Mitsui’s…

Asia-Pacific holds key to future insurance growth: EY

Asia-Pacific holds key to future insurance growth: EY

Asia-Pacific holds key to future insurance growth: EY

A willingness to experiment and embrace disruption among Asia-Pacific insurers holds the key to the industry’s future, according to a recently released report from consultant EY. Its insurance outlook for 2019 report reveals that both the life and non-life sectors are growing in the region, against a backdrop of weak growth in insurance markets globally. While the life sector has…

GDP at risk from cyberattack in largest cities rises 9% in one year

GDP at risk from cyberattack in largest cities rises 9% in one year

GDP at risk from cyberattack in largest cities rises 9% in one year

The amount of GDP at risk from cyberattack in the world’s largest cities has risen nearly 9% during the past year to $39.7bn, according to the 2019 Global Risk Index from the Centre for Risk Studies at the Cambridge Judge Business School. This has pushed cyber risk up one place in the ranking to sixth…

Asia-Pacific execs fearful about growth and prosperity

Asia-Pacific execs fearful about growth and prosperity

Asia-Pacific execs fearful about growth and prosperity

Barely more than half (53%) of business leaders in Asia-Pacific have any confidence that their companies can grow and prosper, ranking the region as the second-least confident behind only Britain where fears over Brexit continue to erode business confidence, according to new research from CNA Hardy. Asia-Pacific also ranked high in terms of risk perception, with 82% of respondents stating…

Cyberattacks biggest business risk across east Asia and the Pacific

Cyberattacks biggest business risk across east Asia and the Pacific

Cyberattacks biggest business risk across east Asia and the Pacific

The risk of a cyberattack is the biggest concern among business leaders in east Asia and the Pacific, according to the Regional Risks for Doing Business report from the World Economic Forum (WEF). The prominence of cyber risk reflects the rapid pace of digitalisation and the increasing sophistication of the region’s economies, according to the report. Southeast Asia also boasts…

Lego wins big copyright case in China

Lego wins big copyright case in China

Lego wins big copyright case in China

Danish toymaker Lego is celebrating the successful outcome of a copyright court case in China that could have repercussions for other international manufacturers that have struggled to protect their intellectual property (IP) from Chinese imitators. The decision, from a district court in Guangzhou Yuexiu, found that the four Chinese defendants had infringed Lego’s IP rights by copying the 3D artworks…

AGCS bolsters ART business in Asia-Pacific

AGCS bolsters ART business in Asia-Pacific

AGCS bolsters ART business in Asia-Pacific

Allianz Global Corporate & Specialty (AGCS) is expanding its alternative risk transfer (ART) business with the launch of a new unit dedicated to Asia-Pacific. Former Marsh & McLennan managing director Richard Green will head up the new business. Mr Green has been based in Asia since 2005 and was previously regional head of ART and cyber insurance at Marsh, where…

Insurers need to ‘rethink’ sharing economy transfer options, says Lloyd’s

Insurers need to ‘rethink’ sharing economy transfer options, says Lloyd’s

Insurers need to ‘rethink’ sharing economy transfer options, says Lloyd’s

Insurers may need to go back to the drawing board to cover new risks arising from the sharing economy that typically sees peers offering services via online sites, say Lloyd’s and Deloitte in analysis of the booming sector. To address these new risks insurers must rethink traditional cover, the study by the two organisations finds. Lloyd’s head of innovation, Trevor…

Risk managers have key role in rise of the robots

Risk managers have key role in rise of the robots

Risk managers have key role in rise of the robots

Very few professions have been left unchallenged by the rise of new technology, in particular the prevalence of automation and artificial intelligence. However the rise of the so-called economy 4.0 could generate new opportunities for corporate risk managers, especially in Asia where the use of robotics and automation is outstripping other regions. For decades we have seen automation and robotics…

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