Read the latest edition of AIR and MEIR as an Interactive e-book

Magazine

Jul 2020

News


Asian

Asia - 30th EAIC in Seoul postponed to 2022

The organising committee for the 30th East Asian Insurance Congress (EAIC) has announced the postponement of the mega regional event scheduled for 30 August 2020 in Seoul to 2022.
 


Australia: Insurance losses from Nat CAT season exceed $3.5bn

According to an update from the Insurance Council of Australia (ICA), the cost of insurance claims from four natural disaster catastrophes declared over the 2019-20 summer has passed A$5.19bn ($3.46bn). 
 


China: Regulator issues draft revised rules for reinsurance business

The China Banking and Insurance Regulatory Commission plans to revise reinsurance rules and has issued a draft of the regulation to be amended for public feedback. 
 


India: Protracted growth seen in life protection segment

India witnessed a strong surge in the insurance protection segment (45-50%) in the past couple of years but with the COVID-19 pandemic getting widespread, the growth trajectory in demand will continue given the rising ‘fear for life’ sentiment. 
 


Japan: Major insurers report declining profits amidst coronavirus-fuelled volatility

While capital and profitability remains at risk in fiscal year 2020 due to COVID-19, four major Japanese life insurers reported declines in their core profit in aggregate in the fiscal year ended March 2020 (fiscal year 2019) because of a revision in mortality tables - revealed a new report published by Moody’s Investors Service.
 


Singapore: Final decision on hosting SIRC to be announced soon

The organising committee of the 17th Singapore International Reinsurance Conference (SIRC) will decide by 1 September if one of the world’s largest reinsurance conferences can be hosted as scheduled from 2 to 5 November.
 


Risk

COVID-19 is not the last pandemic

Global health experts who study how and where new diseases emerge, have said that human encroachment on the natural world speeds up pandemics and COVID-19 will not be the last pandemic.
 


Collaboration to manage the financial impacts of a changing climate