Parima teams up with WTW to focus on business risk profile

Parima teams up with WTW to focus on business risk profile

Parima teams up with WTW to focus on business risk profile

Parima will hold its latest Risk Lab seminar with Willis Towers Watson (WTW) on 16 September, at the broker’s offices in Singapore. The latest seminar is designed to help risk managers assess and “future-proof” their company’s business risk profile. The half-day event will be opened by Rob De Jonge, head of international, risk and analytics at WTW. He will be followed…

ASEAN disaster risk financing plan moves into phase two

ASEAN disaster risk financing plan moves into phase two

ASEAN disaster risk financing plan moves into phase two

Phase two of the ASEAN Disaster Risk Financing and Insurance (ADFRI) programme will focus on three core elements – risk assessment, risk advisory and capacity building – according to Jacqueline Loh, deputy managing director, Monetary Authority of Singapore (MAS). In a recent speech at the Nanyong Technological University – Institute of Catastrophe Risk Management’s (NTU-ICRM) tenth Annual International Symposium on…

MAS issues new rules to strengthen cyber resilience of financial industry

MAS issues new rules to strengthen cyber resilience of financial industry

MAS issues new rules to strengthen cyber resilience of financial industry

The Monetary Authority of Singapore (MAS) has issued a set of legally binding mandatory requirements to raise cybersecurity standards and strengthen the cyber resilience of the financial sector. Financial firms based in Singapore will need to put the new risk-based measures in place within 12 months or face sanctions. A number of respondents to the consultation, including insurers and reinsurers,…

Lloyd’s retraction supports strong price momentum in Asia and Pacific: Marsh

Lloyd’s retraction supports strong price momentum in Asia and Pacific: Marsh

Lloyd’s retraction supports strong price momentum in Asia and Pacific: Marsh

Asian commercial insurance prices rose by 3.5% in the second quarter of this year, following a 4% increase in the first quarter and the highest increase in five years, according to global broker Marsh. The broker says the recent traction by Lloyd’s has had an impact in both regions. Commercial insurance prices rocketed in the Pacific region by 18% in…

Aviva under pressure to reveal plans for Asian business in half-year results

Aviva under pressure to reveal plans for Asian business in half-year results

Aviva under pressure to reveal plans for Asian business in half-year results

Investors and analysts are putting pressure on Aviva, the UK multi-line insurer, to provide confirmation during its quarterly results statement on 8 August that it is planning to sell its Asian business. The insurer has allegedly valued the business at more than $2bn, according to news agency Reuters. Aviva has six Asian businesses – based in China, Hong Kong, India,…

ILS market could be ‘critical enabler’ for emerging risks, claims Singapore regulator

ILS market could be ‘critical enabler’ for emerging risks, claims Singapore regulator

ILS market could be ‘critical enabler’ for emerging risks, claims Singapore regulator

The insurance-linked securities (ILS) market is willing and able to pick up significant gaps in cyber and terrorism cover as traditional insurers seek to limit their exposure and, for Asian companies at least, Singapore is the place to go to investigate this potential, according to Gillian Tan, executive director of the Monetary Authority of Singapore (MAS). Singapore enacted rules two…

New credit and political risk underwriter for Canopius Asia-Pacific

New credit and political risk underwriter for Canopius Asia-Pacific

New credit and political risk underwriter for Canopius Asia-Pacific

Global specialty (re)insurer Canopius has appointed Jamie Jeffers as underwriter, credit and political risk, Canopius Asia-Pacific. The appointment is effective from 9 September 2019. Mr Jeffers will join Canopius from Willis Towers Watson, where he served as executive director, financial solutions – credit and political risk. He will be based in Singapore and will report to Yann Marmonier, head of…

Brokerslink expands in Asia with three new affiliates

Brokerslink expands in Asia with three new affiliates

Brokerslink expands in Asia with three new affiliates

Brokerslink has partnered with three new affiliates in Asia to boost its local expertise in the region. The affiliates are LK Insurance Services in South Korea, Malaysia’s State Insurance Services and John Foord in Singapore. LK Insurance Services specialises in oil and gas, telecommunications, chemicals and logistics. John Foord is a global specialist valuation and appraisal practice headquartered in Singapore,…

Parima hosts disaster preparedness event as region steps up risk reduction efforts

Parima hosts disaster preparedness event as region steps up risk reduction efforts

Parima hosts disaster preparedness event as region steps up risk reduction efforts

Parima will hold its annual conference on disaster preparedness and response on 29 July at the HKAM Jockey Club Building in Hong Kong. The risk and insurance management association said the event will bring together experts and practitioners, government officials, scientific and academic institutions, the NGO sector and the private sector, to share experiences and discuss strategies for disaster preparedness…

Medical Protection Society to launch new malpractice SPA at Lloyd’s

Medical Protection Society to launch new malpractice SPA at Lloyd’s

Medical Protection Society to launch new malpractice SPA at Lloyd’s

The Medical Protection Society (MPS) will team up with Everest Insurance and Asta, a Lloyd’s third-party managing agency, to create Lloyd’s Special Purpose Arrangement (SPA) 1892 to cover medical malpractice. The MPS is a UK-based not-for-profit protection organisation that provides professional indemnity cover for some 300,000 doctors, dentists and healthcare professionals worldwide. An SPA is an annually formed syndicate that…

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