Parima joins Labuan captive meeting as Asia-Pacific growth continues

Parima joins Labuan captive meeting as Asia-Pacific growth continues

Parima joins Labuan captive meeting as Asia-Pacific growth continues

Steve Tunstall, general secretary of Parima, will represent the association at a conference on captives, organised by Labuan International and Business Financial Centre and Swiss Re Corporate Solutions, as evidence mounts of the increased interest in the self-insurance tools among Asian risk and insurance managers. Mr Tunstall, a founding member of the Parima leadership team, is set to take part…

Risk managers must review supply chains as US-China trade war hots up

Risk managers must review supply chains as US-China trade war hots up

Risk managers must review supply chains as US-China trade war hots up

Risk managers in the Asia-Pacific region and worldwide will need to step up their scenario-planning efforts and review supply chains, as their companies face up to ever-rising levels of political and macroeconomic risk on the back of the mounting US-led trade war with China, academics and political risk experts have warned. Speaking this week to China’s Xinhua news agency, Fu…

China fears US will wage cyber assault in tandem with trade war

China fears US will wage cyber assault in tandem with trade war

China fears US will wage cyber assault in tandem with trade war

Most cyberattacks on Chinese networks last year originated from the US, according to an annual report released by China’s National Computer Network Emergency Response Technical Team (CNCERT). Xinhua news agency reports that CNCERT, a non-governmental organisation of network security technical coordination, found that 3.34 million computers on the Chinese mainland were controlled by more than 14,000 Trojan or botnet command…

Political impact tops risks for African firms for sixth year

Political impact tops risks for African firms for sixth year

Political impact tops risks for African firms for sixth year

A massive 91% of risk managers who completed Commercial Risk Africa’s Risk Frontiers Africa 2019 survey have put political risk as an increasing risk. This percentage has risen slightly since the 2018 survey, when 90% of risk managers believed political risks were rising. This compares with 83% of risk managers who see cyber threats as an increasing risk to their…

Gambia ratifies free trade agreement to take it over line

Gambia ratifies free trade agreement to take it over line

Gambia ratifies free trade agreement to take it over line

The Gambia has become the 22nd nation to ratify the African Continental Free Trade Area (AfCFTA), the number required for the agreement to take effect. AfCFTA is likely to formally become live at the African Union meeting in July but in the meantime, the continent has been told to ready itself to maximise the potential dividends of the agreement. Key…

Risk managers advised to check AML compliance

Risk managers advised to check AML compliance

Risk managers advised to check AML compliance

Risk managers in South Africa have been reminded to check their company anti-money laundering (AML) policies and make sure they comply with the law. In a Risk Chat for the Institute of Risk Management South Africa, the Vodacom Forensic Team under the leadership of Farhad Rahaman warned about reports of crimes such as hijackings, robberies, drug trafficking, fraud and corruption,…

Access to foreign exchange continues to hamper African opportunities

Access to foreign exchange continues to hamper African opportunities

Access to foreign exchange continues to hamper African opportunities

Businesses in some of Sub Saharan Africa’s largest economies have been forced to close or reduce production as they struggle to access the hard currency or working capital needed to keep their import-dependent operations afloat. According to a new report from the Economist Intelligence Unit and commissioned by the CDC Group, the decline of commodities prices in 2014-2016 restricted foreign…

South Africa: business as usual?

South Africa: business as usual?

South Africa: business as usual?

With political risk again being cited as the number one risk facing business across Africa, according to many risk managers, it was no surprise people were watching the recent elections in South Arica with such interest, as David Kaye reports Risk managers were watching to see the political fallout after Cyril Ramaphosa and the incumbent African National Congress (ANC) party…

Risk managers generally happy with risk software but areas for improvement, finds AMRAE

Risk managers generally happy with risk software but areas for improvement, finds AMRAE

Risk managers generally happy with risk software but areas for improvement, finds AMRAE

Risk managers are mostly happy with their risk management information systems, but believe improvements can be made to ensure they better interface with other business software and boost reporting capabilities, according to a report published by French risk management association AMRAE. The 11thissue of AMRAE’s annual guide on risk management software is based, in part, on a survey of 570…

Maritime experts call for urgent action to curb piracy in Gulf of Guinea

Maritime experts call for urgent action to curb piracy in Gulf of Guinea

Maritime experts call for urgent action to curb piracy in Gulf of Guinea

The maritime community has called for urgent action to tackle piracy risk in the Gulf of Guinea, which now appears a daily threat to ships and crew operating in the region. At a symposium on maritime security in the Gulf of Guinea held at the International Maritime Organisation’s (IMO) headquarters, industry members and experts noted that the number of attacks…