Magazine

Dec 2020

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News


Asian

Australia: Insurers' profits expected to be hit by sluggish top line and weak investment gains

Australian life and non-life insurers’ earnings are likely to fall due to top line pressure and weaker investment revenue according to a new report from Fitch Ratings on the country’s insurance sector.
 


China: P&C sector sinks into the red for 9M2020

P&C insurers in China are estimated to have incurred a combined net loss of CNY2.12bn ($318m) for the first three quarters of this year, turning around from a net profit of CNY45.2bn in the corresponding period in 2019.
 


HK-based InsurTech secures $14m Series A funding

Coherent, a provider of digital platforms to insurers, has raised U$14m in a Series A funding round led by global VC fund Cathay Innovation, with participation from Franklin Templeton. The funds would help the start-up expand its presence in Asia while also increasing customer reach.
 


India: General Insurance Council says motor policies must be renewed on time

The General Insurance Council has clarified that a notification from the Ministry of Road Transport extending the validity of all vehicle documents from February to 31 December does not include insurance policies.
 


Singapore: Life insurance industry shows signs of recovery

In 3Q2020, Singapore’s life insurance industry recorded a notable 90.6% increase in new business premiums compared to 2Q2020 according to industry results published by the Life Insurance Association Singapore for the period January to September 2020.
 


Sri Lanka: Global actuarial firm to begin operating after acquiring consulting firm

Global consulting and actuarial firm Milliman is set to begin operations in Sri Lanka after acquiring Colombo-based Spark Actuarial. The firm’s new office will support local and international clients with the firm’s full range of actuarial services.
 


Risk

Role of risk officer in for big changes

The coronavirus pandemic has spurred the work-from-home culture which, in turn, has increased the cyber vulnerabilities of organisations. This has led to a change in the perception of the role of a risk manager. A new way of working for risk management professionals is emerging.
 


Cities face increasing 'water risks' by 2050

Globally hundreds of millions of people in 100 cities across the globe could face massive water risks in the next few decades according to a new report by World Wide Fund for Nature (WWF).