Labuan sees captive growth in 2018

Labuan sees captive growth in 2018

Labuan sees captive growth in 2018

Labuan saw six new captives licensed in 2018, bringing the total number of captives in the domicile to 48. According to the Labuan International Business And Financial Centre (IBFC) Market Report 2018, 22 insurance and insurance-related entities were approved in 2018, comprising six captives, 13 brokers, two (re)insurers and one underwriting manager, bringing the total number of approved Labuan insurance…

Large shipping losses at lowest level since turn of century: AGCS

Large shipping losses at lowest level since turn of century: AGCS

Large shipping losses at lowest level since turn of century: AGCS

Large shipping losses were at their lowest level last year since the turn of the 21st century, according to maritime statistics from Allianz Global Corporate & Specialty (AGCS). There were just 45 total losses globally in 2018. This is down from 98 in 2017 and 55% lower than the ten-year average of 104. It is the fourth consecutive year that…

Global manufacturing supply chains failing to make progress on child labour risk, finds Verisk Maplecroft

Global manufacturing supply chains failing to make progress on child labour risk, finds Verisk Maplecroft

Global manufacturing supply chains failing to make progress on child labour risk, finds Verisk Maplecroft

Global manufacturing supply chains that operate through the world’s major hubs are making little or no progress in stamping out child labour, finds new research from Verisk Maplecroft. In its Child Labour Index, the risk analytics firm said manufacturing hubs most entwined in global supply chains – including China, India, Bangladesh, Vietnam and Cambodia – have “not recorded any improvement”…

Reputation and supply chain shoot up c-suite agenda

Reputation and supply chain shoot up c-suite agenda

Reputation and supply chain shoot up c-suite agenda

Reputation is the fastest growing risk category on the c-suite agenda as intangible threats continue their seemingly inexorable rise and shove traditional physical assets into the background, according to latest research among 1,500 senior executives with multinationals active in Europe carried out by insurer CNA Hardy. Reputation risk is striding up the agenda on the back of wider economic trends…

Parima holds Manila conference

Parima holds Manila conference

Parima holds Manila conference

Asia’s risk managers gathered in the Philippines to discuss technology disruption, changes in consumer behaviour and the threat of fake news at the latest conference held by the Pan-Asia Risk and Insurance Management Association (Parima). The event, titled Redefining Risks, also gave the association the chance to announce its Competency Framework, a personal benchmarking tool for risk managers. The event,…

Modi’s Indian election win welcomed by economists and investors

Modi’s Indian election win welcomed by economists and investors

Modi’s Indian election win welcomed by economists and investors

Financial markets and international investors have hailed a potentially positive economic impact from the re-election of Narendra Modi as prime minister of India, although the positive forecast does come with some conditions, namely that it must be accompanied by promised reforms in the banking sector, increased infrastructure spending and a period of fiscal stability. Mr Modi’s Bharatiya Janata Party (BJP)…

FM Global survey shows mixed corporate governance picture for Asia

FM Global survey shows mixed corporate governance picture for Asia

FM Global survey shows mixed corporate governance picture for Asia

Singapore has emerged as the leading country for corporate governance according to the 2019 edition of the FM Global Resilience Index. The insurer’s index has been running for several years now but this is the first time that corporate governance has been added as one of the 12 economic, risk and supply chain-related metrics used to rank countries. Singapore ranked…

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…

Financial crime compliance driving ESG scores

Financial crime compliance driving ESG scores

Financial crime compliance driving ESG scores

Environmental, social and governance (ESG) risk is highest for banks in Asia-Pacific emerging markets, followed by emerging markets in the Americas, the Middle East and Africa, according to a new report from Fitch Ratings. It reveals that financial crime compliance and conduct issues drive the highest-impact ESG relevance scores for bank credit ratings in developed markets. The report notes that,…