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…

Rising demand for credit insurance as economic concerns rise in Asia-Pacific

Rising demand for credit insurance as economic concerns rise in Asia-Pacific

Rising demand for credit insurance as economic concerns rise in Asia-Pacific

There is rising demand for credit insurance in the Asia-Pacific region, as a growing number of economic forecasts warn of slowing growth and rising insolvencies in the region. Businesses in the area are also taking a more strategic approach to credit management as they wake up to the macroeconomic threat, according to credit insurance experts. The latest analysis from credit…

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…

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”…

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,…

Allianz forecasts rebound for Asia’s insurance markets

Allianz forecasts rebound for Asia’s insurance markets

Allianz forecasts rebound for Asia’s insurance markets

Following a disappointing 2018, Allianz is predicting that Asia’s insurance market will rebound in 2019 and be a primary driver of global insurance growth over the next decade. Industry projections have repeatedly forecast a strong improvement in Asia’s insurance industry given the strong growth rates of many of its economies and the relatively low level of insurance penetration to date.…

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…

Munich Re appoints new head for southeast Asia

Munich Re appoints new head for southeast Asia

Munich Re appoints new head for southeast Asia

Former Canopius executive Linus Phoon has been appointed as the new head for Singapore and southeast Asia by Munich Re. Mr Phoon will be based in Singapore, reporting to Roland Eckls, Munich Re’s chief executive for Asia-Pacific. In his new role, Mr Phoon will be responsible for leading the firm’s reinsurance business in the region, including both insurance coverage and…

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