AM Best has reported that Singapore’s Pana Harrison (Asia) has confirmed that it has agreed to acquire the business of AIH Reinsurance Brokers, based in Labuan, Malaysia. The deal would create the largest independent regional broker based in Singapore.
Antares Asia, part of the Lloyd’s-based underwriting group that was acquired by leading Qatar insurance group QIC Group in 2014, has announced the launch of its legal expenses business with the appointment of Mark Waters as legal expenses underwriter.
Credit rating agency AM Best has published its latest report on the Asian insurance and reinsurance market. The sector can look forward to growth rates that are the envy of the mature markets of Europe and North America. But rising protectionism, tighter regulation and intense competition all pose major challenges.
Nicholas Pratt talks to AXA Corporate Solutions’ Etienne Champion about the insurer’s One AXA Asia initiative and its plans for the region.
Franck Baron, chairman of the Pan-Asia Risk and Insurance Management Association (Parima), told Commercial Risk Asia that the Association will extend the depth and breadth of its partnerships next year, as it seeks to improve and extend its services to its growing membership across the Asia-Pacific region.
Singapore has announced a S$10 million programme to increase cyber security know-how among neighbouring Southeast Asian states. The ASEAN Cyber Capacity Programme will use the money to pay for expertise and training in order for the countries to take charge of their respective security agendas, said Singapore’s Minister for Communications and Information Yaacob Ibrahim.
September saw the first InsurTech conference in Asia and the largest gathering to date of insurers and startups. Nicholas Pratt reports.