The Vietnamese insurance market has reported premium revenue growth of 20% in the first quarter of this year, compared with the first quarter of last year, according to the Association of Vietnamese Insurers (AVI).
Antares, the Lloyd’s managing agency that recently set up an operation in Singapore, has confirmed that it is close to also joining the Lloyd’s China platform with the aim of commencing underwriting at the start of 2017.
Shanghai officially launched its long-awaited insurance exchange (SHIE) on 12 June at the Lujiazui Forum, an annual forum for the financial industry.
Fosun International, the Chinese conglomerate that has recently built a strong position in the international insurance and reinsurance market, is said to be at the head of a pack of investors looking at a $1bn acquisition of Singapore-based ACR Capital Holdings.
Growth in the Indonesian insurance industry is likely to pick-up in 2016, as the market’s view of the country’s economy improves, according to Fitch Ratings.
A new report from Swiss Re on emerging risks has called for more collaboration between insurers and their corporate buyers. While many of the highlighted risks may only be fully revealed to future generations, a more active approach to their management will alleviate the future burden and make for a more resilient society and a more sustainable insurance business, argues Swiss Re.
Business leaders in the Asia-Pacific region need to adopt a more sophisticated approach to insurance management, starting with more effective identification and measurement of intangible threats such as supply chain risk, according to Franck Baron and Kelvin Wu of Parima. But insurers also need to step up their efforts to more accurately assess the risk and recognise the effort made by customers.
Cyber risk was, perhaps unsurprisingly, a hot topic of discussion during a lively debate among risk managers, insurers and brokers at the recent Pan-Asia Risk and Insurance Management Association (Parima) conference in Kuala Lumpur.
Nicholas Pratt talks to IIS president Michael Morrissey about the development of Asia’s risk and insurance industry, and the role of the risk manager.
Emerging risks and “destabilisers” as diverse as widening income inequality, slower growth and climate change are reshaping Asia’s economic landscape so rapidly that governments must build far greater resilience into their national plans, says the Asian Development Bank’s (ADB) Independent Evaluation Department.