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Mar 2024

Editorial

Source: Asia Insurance Review | Oct 2015

October always rushes in and leaves in a huff. This October is no different, with a whole slate of activities in store for the region, though China takes a week off. And next October, we will be even busier with the 27th EAIC in Macau as well.
As I write this, the investment market takes a breather with no Fed rate hike – though many had wanted interest rates to move up for the longest time. Such are the vagaries of the investment climate. Sign up for our Investment Management Summit in November which will offer tips to even your head office boys as the event is held in Hong Kong -- long dubbed the New York of Asia, being one of the most sophisticated financial hubs in China and the world.
 
   But back to October, there is a series of events from the ASEAN Insurance Council meeting in Cambodia, where ASEAN member states are busy preparing for the long-awaited December launch of the ASEAN Economic Community that will add economic muscle to the bloc. We bring you a quick look at host country Cambodia which, despite its size, is taking big strides to get in sync with the ASEAN wave.
 
   October is also the month for the Indonesia Rendezvous, and our Country Profile zeroes in on the market dynamics and the slew of 16 draft regulations in the pipeline but worked out in consultation with the industry to help boost the domestic sector. A strong domestic market can only herald a stronger region and better results for reinsurers, as the popular wisdom goes. 
 
   Our Cover Story for October is on Marine, offering tips on steering on an even keel even on rough seas. And to drive home that point, we have our Asia Marine Insurance Conference in Hong Kong being hosted with support of the Hong Kong Shipowners Association. So do sign up if you are a serious marine insurer as the word is out that that marine insurers have for too long tended to be mere passengers on the big wide sea rather than being Masters of the Sea.
 
   Asia is still buzzing in October with several companies expanding within Asia or coming with fresh expectations and new products and strategies. The outlook despite the volatility and challenges faced is one of growth and development. Asia is still the centre of activities and we, at Asia Insurance Review, enjoy the by-product of being the third busiest insurance site in the cyber world in terms of daily hits. Here’s to Google statistics with dynamic daily updates. Sorry for that boast, but it underpins the importance of Asia more than AIR. 
 
   So here’s to the dynamism of Asia. Moving forward, we offer strategic tips to our readers on overcoming challenges in the market to build the business, including through risk management parleys, meeting customer expectations, but first knowing what they are in insurance terms, and just being customer-centric, even at the claims end. 
 
   Globally, Monte Carlo came and went with the clear message that reinsurance is still in good strong health and that there will be more resistance to price discounts. And at the global think-tank level, we make the call to get up close and personal, with insurance and its intrinsic business model and technical specificities before any decrees. But does one have the time?
 
   And on an inter-regional note, we salute FAIR as it celebrates its 50th anniversary with a big bang at its birthplace in Cairo. FAIR is the only forum for regional business deals between Asia, the Middle East and Africa, and it has spawned quite a few pools yet, the last being the Nat CAT pool managed by GIC Re.
 
   Lastly, have you registered for the SIRC, the Monte Carlo Rendezvous of Asia? More than 800 have done so. And don’t forget the 19th Asia Insurance Industry Awards Presentation Dinner to be held in conjunction with the SIRC on 3rd November. The list of finalists have been announced! Are you rooting for any? I take this opportunity to congratulate all the finalists and thank all the candidates who took part in this annual feat to recognise and salute excellence.
 
Sivam Subramaniam
Editor-in-Chief
Asia Insurance Review
 
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