AIR Exclusive - GIC: All Set to Meet New Demands Even From All Mega Risks
Country Story - TT Club: Innovative Solution For New Risks
As we look ahead, we talk to Mr R K Joshi, Chairman & CEO, GIC of India, on his expectations and plans for 2006, including the readiness to play a vital role in setting a natural perils pool to cope with the catastrophe challenges in the market. He also...
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As the global marine logistics world becomes increasingly complex, TT Club is focusing on training for its Members as well as providing a brand new product which caters to the new risks encountered. Mr Andrew Kemp, Managing Director, TT Club, Singapore Branch...
Our Guest Editor for January is Mr Takeo Inokuchi, Chairman and CEO of Mitsui Sumitomo Insurance.
In early August last year, SCOR SA saw its financial strength rating raised from BBB+ to A- by Standard & Poor’s after almost two years of being downgraded out of the A range by S&P and other rating agencies in late 2003. Asia Insurance Review spoke...
With the infusion of fresh capital and the extension of its membership roll, inter-governmental organisation Asian Reinsurance Corporation (Asian Re) looks set to play a more active role in the region. Newly-appointed General Manager and CEO Mr S A Kumar elaborates...
After six years of discussions with the MAS, Zurich International Life finally obtained a branch life licence in Singapore. We spoke with Mr Carlos Sabugueiro, Regional Director, Asia, Zurich International Life, about his consistent belief in Singapore and why...
Takaful Re was launched in late November in Dubai with a paid-up capital of US$125 million, making it the strongest capitalised Islamic reinsurance company filling what Arig Chairman Khalid Ali Al Bustani termed the “missing-link in the rapidly growing takaful...
There is a real need for solutions for distressed insurance businesses in Asia, says run-off specialist Whittington, which has chosen to be Singapore as the home for its new global headquarters. Find out why in this article.
Here, we bring you a five-year assessment through an interview with its dynamic Chief Executive, Mr Alex Letts, who walks, talks and breathes the standards dreams. After all these years, he is still upbeat that the time has come for the industry to fully...
Starting from this year, as part of its commitment to the WTO, the China Insurance Regulatory Commission (CIRC) will lift all restrictions on insurance business for international insurers. This is good news for the country’s burgeoning number of foreign insurers ...
China is ripe with opportunities and yet it is not without its share of pitfalls. What can the industry do in this era of uncertainty and opportunity? This topic, presented in various forms, met with extensive dialogue at the 6th China Rendezvous in Shanghai recently...
Museums have always been a potent symbol of a country’s cultural heritage, prestige, success and power, and as China develops into one of the most successful economies in the world, it is moving into the museum business with equal gusto and flair. Ms Clare...
In huge market where size and reach is everything, AEGON-CNOOC has adopted a path less traveled, preferring to focus on a measured strategy of growth and building upon a strong base in Shanghai. This strategy has proved to be a phenomenal success, as today the company...
Mr Cong Xuesong, General Manager for the Central Region Management Center and Shanghai branch gives a lowdown on the growth strategy of the country's 10th largest general insurer.
Lloyd’s received the go-ahead to set up an on-shore reinsurance operation in November last year. Mr Anthony Egerton, President of Lloyd’s Asia said that this is the first step in the journey of a thousand miles and that they are building for the future and not expecting any...
Mr Keitaro (Ken) Mizuochi, General Manager of Mitsui Sumitomo Insurance’s Branch office in Shanghai, shares his experiences in China and his plans for the company in the coming year.
President Maggie Taw explains how the joint-venture is planning to operate a healthy and sound business model in an increasingly competitive environment.
Brokers need to differentiate themselves more and strengthen their relationships with insurers, says the chief of Shanghai Asian Insurance Brokers Co (SAIBC), one of the first local entrants into the country’s fledgling broking industry.
The People’s Republic of China joined the WTO on 11 December 2001. As a result of reforms after accession, China has now mostly fulfilled its commitments under the WTO Protocol. During the past four years, the insurance sector has been further opened to foreign...
The number of claims against directors and officers and the compensation sought by plaintiffs has increased considerably. Such claims are no longer confined to mainly US-domiciled corporations but in other parts of the world as well. In this article, Mr Enrico...
Corporates in Asia are undergoing an evolution in its approach to D&O insurance. JLT Asia’s Managing Director for Financial Solutions, Mr Tony Mitchell, draws upon the findings of a recent survey to illustrate just how far the region has come.
Demand for D&O and professional indemnity cover in Asia is certain to rise, but how do you price these risks in such a rapidly changing environment? This question will be a critical challenge to underwriters, says Mr Raj Ahuja, a partner of EMB,...
The general increase for the International Group P&I Club’s renewal is between nil to 12.5% and Mr Nick Sansom, Senior Vice President, Head of Marine, Asia, Marsh Marine & Energy, said that reinsurance costs will also be the other cost factor that...
Paying close attention to costs and establishing premium levels which are consistent with the anticipated volume and value of future claims is the most important task of the UK Club, the world leader in terms of gross tonnage. Mr Nick Whitear, Marketing Director...
As one of the five clubs that made a technical profit for the year ending 2004, the American Club said its assessment of the P&I market today is one of cautious optimism for the future. Mr Joe Hughes, Chairman and CEO of Shipowners Claims Bureau Inc,...
Gard is the world’s second largest P&I Club in terms of gross tonnage and is said to be closing the gap with market leader, UK P&I Club. Mr Sven-Henrik Svensen, Senior Vice President, said that while being large is beneficial, it is not an important...
There are not many Asian P&I insurance providers outside Japan and many Asian insurance companies had found it hard to penetrate the P&I market which is now dominated by the Clubs in the International Group. Malaysian National Insurance Berhad (MNI), a leading...
The Shipowners’ Club celebrated its 150th anniversary last year and is one of the five clubs to make a technical profit for the year ending February 2004. The year 2005 looks good so far, registering increased free reserves and so the Club has decided that they...
Members must pay the right technical price to renew or gain entry into their Club, says Mr Robert Drummond, General Manager of Charles Taylor Mutual Management (Asia) Pte Ltd (CTMMA), managers of Standard Steamship Owners’ Protection and Indemnity...
The market leader in a niche area of delay insurance, the Strike Club is not exactly a P&I insurer although it is a mutual and is structured like a P&I insurer. Mr Bill Milligan, Chief Executive Officer, Strike Club Management and Mr Guy Debry,...
There are new challenges and legislations which have increased exposures facing shipowners today. Mr Claes A Lindh, Director Underwriting & Marketing of The Swedish Club, said their challenge is to face, manage and absorb these new exposures. Here, he tells...
Mr Peter Coates, CEO of Axiom Asia Pacific, and Mr Suresh Dhanushkoti, CEO of iMantras, highlight the key issues facing ceding insurers in the Australasian market in managing outward reinsurance and consider ways to manage these issues more effectively.
Siem Reap, Land of Angkor Wat, was host to a series of Asean meetings last week with some 100-odd senior leaders and young managers attending the Asean Insurance Regulators Meeting, the Asean Insurance Council, Council of Bureaux relating to the implementation of...
From globalisation and liberalisation to agricultural insurance and education, the ICDC has covered issues that are relevant to developing countries. Read this for a sneak preview of the next conference coming up in March. ...
Acquisitions are an important tool for growth in the insurance industry. The Asian market is increasingly seeing the “growth through acquisition” strategy implemented, and CEOs in the region need to understand the risks and opportunities in this strategy, to ensure that they...
Mr Gordon Perchthold observes how the insurance markets in all countries have only now become truly competitive, which not only raises the bar for effective positioning and execution, but also has significant implication for configuring capable management teams ...
In this article extracted from the Geneva Papers, Mr Geoffrey Heal, Columbia Business School, looks at corporate social responsibility (CSR) as a programme of actions to reduce externalised costs or to avoid distributional conflicts, pointing out the causes for...
Ms Rachel Fitton, Managing Director, SearchBank Executive Search Ltd, draws from the events of last year’s high profile dismissal of former FEMA head Mr Michael Brown, in the aftermath of Hurricane Katrina, and identifies how employers can spot tell-tell...
Mr Jose Cuisia Jr was named the Insurance Personality of the Year for 2005. Here, we bring you a closer look at the man: what makes him tick and why he is so highly respected and well-loved in the market.