IRM contracts new training provider in southeast Asia

IRM contracts new training provider in southeast Asia

IRM contracts new training provider in southeast Asia

The UK-based risk management education provider, Institute of Risk Management (IRM), has licensed a new training provider in southeast Asia for its Fundamentals of Risk Management (FoRM) course. JGA Training Services has been accredited as a licensed FoRM provider operating in Malaysia, Singapore, Indonesia, Thailand, the Philippines and Vietnam. The course, according to IRM, is designed to provide an introduction…

Howden Thailand merges with local Thai broker

Howden Thailand merges with local Thai broker

Howden Thailand merges with local Thai broker

Howden has merged its Thai operation with a local broker to form Howden Maxi, which it says will be a top ten Thai broker. Howden Insurance Brokers (Thailand) and Maxi Insurance Broker Co have joined forces to form Howden Maxi. “By bringing together the specialist expertise of the two businesses, and the reach of the Howden global network, Howden Maxi…

Allianz to enter Vietnam market with digital joint venture

Allianz to enter Vietnam market with digital joint venture

Allianz to enter Vietnam market with digital joint venture

Allianz is to enter the general insurance sector in Vietnam through a digital joint venture (JV) to be set up with the FPT Group. According to Allianz: “FPT Group, as the strategic technology partner, will support Allianz in the fast-growing insurance market in Vietnam to develop innovative digital insurance products and services to meet the protection needs of local customers.”…

International General Insurance appoints CEO of Labuan branch

International General Insurance appoints CEO of Labuan branch

International General Insurance appoints CEO of Labuan branch

International General Insurance Holdings (IGI) has appointed Nick Garrity as chief executive officer of IGI’s Labuan branch. IGI said his role will be to strengthen the group’s offering in Asia-Pacific, with a planned growth strategy from IGI’s Kuala Lumpur office, which will serve as the group’s hub for expansion in the region. Mr Garrity has 28 years’ experience in the…

Chubb makes new APAC appointment

Chubb makes new APAC appointment

Chubb makes new APAC appointment

Global insurer Chubb has promoted Glen Browne to the role of deputy regional president for Asia-Pacific and division president, southeast Asia. Effective immediately, the role covers the general management of Chubb’s activity in Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam as well as any future southeast Asian territories. Mr Browne will be based in Singapore, reporting to Paul McNamee, senior…

Myanmar’s insurance market opens to foreign insurers

Myanmar’s insurance market opens to foreign insurers

Myanmar’s insurance market opens to foreign insurers

Myanmar has opened up its insurance market to foreign insurers, according to the Myanmar Times. The paper quoted an announcement by the country’s Ministry of Planning and Finance that officially permits companies wishing “to operate the business of insurance, underwriting agency or insurance broking with foreign investment” to open for business in the country. According to the announcement, the ministry…

QBE offloads Indonesia and Philippines operations in cost-cutting drive

QBE offloads Indonesia and Philippines operations in cost-cutting drive

QBE offloads Indonesia and Philippines operations in cost-cutting drive

Australian insurer QBE is seeking $130m in cost savings in a three-year efficiency programme that will see it sell off its Indonesia, Philippines and Puerto Rico businesses and operate in nine fewer countries. It has also announced a new, simplified structure that will divide its international business into three regional groups – North America, international markets and Australia-Pacific – as…

Cyberattacks biggest business risk across east Asia and the Pacific

Cyberattacks biggest business risk across east Asia and the Pacific

Cyberattacks biggest business risk across east Asia and the Pacific

The risk of a cyberattack is the biggest concern among business leaders in east Asia and the Pacific, according to the Regional Risks for Doing Business report from the World Economic Forum (WEF). The prominence of cyber risk reflects the rapid pace of digitalisation and the increasing sophistication of the region’s economies, according to the report. Southeast Asia also boasts…

Good growth prospects for ASEAN insurance markets, says Moody’s

Good growth prospects for ASEAN insurance markets, says Moody’s

Good growth prospects for ASEAN insurance markets, says Moody’s

Strong socioeconomic fundamentals are supporting growth prospects for insurance in six major Association of Southeast Asian Nations (ASEAN) markets, according to Moody’s Investors Service. However, it stresses that the pace and quality of growth will vary by geography. In a new report, Insurers – ASEAN: Growth comes through new policies and innovations, Moody’s looks at six ASEAN markets: Singapore, Thailand,…

Hopes raised that Malaysia will ease cap on foreign insurers

Hopes raised that Malaysia will ease cap on foreign insurers

Hopes raised that Malaysia will ease cap on foreign insurers

There is an increasing number of reports that the Government of Malaysia is preparing to relax rules on the involvement of international insurers and reinsurers in its market, and thus make life easier for risk and insurance managers with multinationals active in this large and growing Asian market. Local newspapers and Reuters report that the government is preparing to review…

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