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News - Asia: Risk management top priority for Asian companies – Marsh
Insurance companies globally have invested significant resources and management time in strengthening their risk governance, management, measurement and monitoring capabilities. Ms Morag McDermott, Associate Director of Financial Services Risk Management, Ernst & Young, Beijing and Mr Graham Handy, Advisory Services and Practice Leader of Actuarial Services, Ernst & Young, Singapore, tell us how in an environment of market volatility and demand for greater transparency and stronger financial performance, risk management has become a critical priority and a basis for competitive differentiation.
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In a survey conducted last year by the Economist Intelligence Unit that was sponsored by the ACE Group of Companies, it noted that the financial markets’ turbulence had a direct effect on the perception of risks in global businesses.
Marsh has said that Asian companies are finding it difficult to keep pace with the changing risk landscape and are putting risk management at the top of the priority list.