IMRF to expand search-and-rescue training across Asia on back of Malaysian success

IMRF to expand search-and-rescue training across Asia on back of Malaysian success

IMRF to expand search-and-rescue training across Asia on back of Malaysian success

The International Maritime Rescue Foundation (IMRF), the charity that prevents loss of life in the world’s waters, has held a two-day Inter Regional Mass Rescue Workshop for the Asia-Pacific region in Kuala Lumpur, Malaysia, alongside the seventh International Search and Rescue Conference and Exhibition. The foundation reported a healthy attendance from key Malaysian bodies, representatives of the Korean defence attaché…

Healthy Thai economy boosts non-life premiums, further M&A forecast

Healthy Thai economy boosts non-life premiums, further M&A forecast

Healthy Thai economy boosts non-life premiums, further M&A forecast

Thailand’s non-life insurance premiums expanded by 4% on an annualised basis in the first quarter of this year, driven by the motor and personal accident segments according to a new report from Fitch Ratings. The credit ratings agency expects premium growth to continue, supported by Thailand’s “benign” economic conditions, government stimulus for investment and strong new car sales. The Thailand…

Malaysian central banker calls for more innovative risk management to build a better future

Malaysian central banker calls for more innovative risk management to build a better future

Malaysian central banker calls for more innovative risk management to build a better future

Risk managers need to reassess their role and approach to help companies make better and more innovative risk-based decisions, including taking risks rather than avoiding them, a senior executive of the central bank of Malaysia told the recent annual meeting of the Malaysian Association of Risk and Insurance Managers (MARIM). Puan Jessica Chew Cheng Lian, deputy governor of Bank Negara…

Political tension in South China Sea means Asia bucks global shipping loss trend

Political tension in South China Sea means Asia bucks global shipping loss trend

Political tension in South China Sea means Asia bucks global shipping loss trend

Asia bucked the trend in shipping losses last year as incidents in the south China, Indochina, Indonesia and Philippine maritime region leapt by 25% in 2017, while on a global basis, large shipping losses continued to fall, according to latest numbers from Allianz Global Corporate & Specialty (AGCS). Territorial disputes between China, South Korea and the Philippines involving US naval…

Labuan sees 10% growth in captives in 2017

Labuan sees 10% growth in captives in 2017

Labuan sees 10% growth in captives in 2017

The Labuan International Business and Financial Centre (LIBFC) saw the number of captive licences issued increase to 43 in 2017 from 39 in the previous year. In total, there were 14 insurance and insurance-related new setups in LIBFC in 2017. However, the total number of insurance-related licences fell from 204 to 203. The number of reinsurance-licensed companies fell from 44…

Big spike in fake and pirated goods seizures as Philippines authorities get tough

Big spike in fake and pirated goods seizures as Philippines authorities get tough

Big spike in fake and pirated goods seizures as Philippines authorities get tough

The Philippines National Committee on Intellectual Property Rights (NCIPR) has reported that it has confiscated roughly PHP7bn worth of fake and pirated products in the first five months of 2018, based on reports published by Inquirer.net and local media. The inter-agency intellectual property task force seized PHP6.7bn worth of fake products from January to May 2018. This haul, taken in the first…

Parima, Marim and Willis Towers Watson offer July risk events in Kuala Lumpar, Bangkok and Macau

Parima, Marim and Willis Towers Watson offer July risk events in Kuala Lumpar, Bangkok and Macau

Parima, Marim and Willis Towers Watson offer July risk events in Kuala Lumpar, Bangkok and Macau

Asian risk managers have three association events on offer in July in Malaysia, Thailand and Macau – organised by the Malaysian Association of Risk and Insurance Management (Marim), and the Pan Asia Risk & Insurance Management Association (Parima) in partnership with Willis Towers Watson. The Marim annual conference takes place 17-18 July in Kuala Lumpur and focuses on the theme…

Aon launches updated Thai flood model to help protect growing economy

Aon launches updated Thai flood model to help protect growing economy

Aon launches updated Thai flood model to help protect growing economy

Aon has launched an updated Thailand flood catastrophe model that uses the latest scientific advances in hydrological, hydraulic and statistical modelling to help insurers more accurately assess and manage this still rising risk. The Thai floods of 2011 caused more than $15bn of insured losses and served as a serious wake-up call to Asian and international insurers and reinsurers, which…

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