Guest Editorial - Nippon Life: Overcoming all odds to fulfil our mission
Guest Editorial - Manulife Financial: 125 years in the people business
Cover Story - CEO Issues: Managing risk in a brave new world
Risk Management Feature - When the wind blows
Olympics Insurance Feature - London Olympics 2012: Risks and opportunities
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This year, Manulife Financial celebrates its 125th global anniversary, and 115 years in Asia. At the same time it is growing fast, entering a new market, Cambodia, and major new partnerships in Indonesia and elsewhere in the region. So for any company wishing not just to be around but be growing in the 22nd century, what can they take away from...
Mr Michael McGavick of XL Group shares his list of major risks to an insurer’s success as well as what the solutions are.
Are your roofs resistant to wind damage from a tropical storm? Mr Stuart Selden of FM Global discusses how you can protect your business from this potentially catastrophic natural hazard.
Mr Andrew Duxbury of Munich Re, London, examines one of the main insurance aspects surrounding the world’s largest sporting event.
In an exclusive interview with Asia Insurance Review, Mr Ashok Kumar Roy, who joined GIC Re in 2008 and became its Chairman-cum-Managing Director in April 2012, gives his view of the Indian insurance market and speaks of his vision to see the country’s sole reinsurer develop into one of the top five in the world by 2025. By Jimmy John...
With AXA acquiring HSBC’s general insurance arm in Asia earlier this year, Deputy CEO Denis Duverne talks about this strategy and how AXA plans to continue to grow in Asia and around the world despite the challenges that lie ahead. By Seow Kai Lun
Mr Ng Keng Hooi, Regional Chief Executive of AIA Group Ltd (AIA), speaks to Asia Insurance Review about its partnership distribution strategies, AIG’s reduced stake and its success in China. By Benjamin Ang
Though many channels now exist in distribution, it is important to be focussed on customers’ needs and keep it simple for them, while leveraging on the benefits on having multiple channels, say Dr Jochen Schwarz, Head of Retail Distribution, Global Life and Mr Julian Lipman, Head of Distribution for Global Life, Asia Pacific and Middle...
Even as Asia becomes a powerhouse for the new century, it is experiencing an ageing “tsunami”. Mr John Van Der Wielen, CEO( International) of Friends Life, talks about the region’s growing need for financial advice for wealth building and wealth handling. He also gives his views on the remuneration structure for financial...
JLT Re and its predecessor JTG have had a reinsurance presence in Asia for three decades, but the company believes now is the right time for it, as a specialty reinsurance practice, to expand in the region. The company, says CEO Alastair Speare-Cole, is looking at territories where there is limited reinsurance resource or expertise for its...
Trade credit insurers are concerned about the global outlook for trade this year, given the still unresolved debt crisis and the uncertainties in the global economy. But the industry outlook for Asia and Latin America is positive, with a surge in demand for trade credit and surety insurance in these regions. For this reason, the...
This is a busy year for the Monetary Authority of Singapore (MAS) as it sets out to examine some regulatory areas of the industry, key of them being the existing RBC framework as well as the financial advisory sector. In this special interview, Ms Luz Foo, Executive Director of the Insurance Department, talks about the various reviews they are...
In this first part of our Country Profile on Vietnam, we focus on the life sector of the industry. The regulator has been very active pushing through several amendments as he works towards regulating with sustainable growth. Life insurers are positive about the outlook, citing “tremendous growth potential”. Seems like life can only...
It is all about growth in Vietnam. Life players in the country’s insurance industry are abuzz with expectations of the continued strong growth in the young market which started only in 1996 with the formation of BaoViet Life Corp as a pilot programme. By Benjamin Ang
By Mr Geoff Sutherland, Special Counsel and Head of Vietnam practice, Norton Rose
Change is everywhere and Asia is not spared. CEOs need to have a clear vision, with cutting edge strategies and steely determination to steer their organisations through the yawning pitfalls lining every turn and corner. CEOs from the industry share the fears of these pitfalls and their strategies to win the battle for long-term success.
Frequent and open dialogue with company management is considered to be the very foundation of A.M. Best’s interactive rating process. The CEO of a rated entity is fundamental to this management dialogue through formal annual rating meetings, as well as interim discussions on key trends and emerging issues. Dr Roger Sellek of A.M. Best...
Mr Simon Phipps and Mr Pritesh Modi from Towers Watson reflect on why the days of sitting on the fence in Asia may be over, and discuss some of the key issues facing CEOs right now.
While most people are aware of the importance of insurance, the industry still has some way to go to improve its image. We explore this issue with four industry players.
Mr Tuck Chan of FSI Solutions Consulting, Aspect, says it is crucial for insurers to engage customers more efficiently. He shares a very interesting case study on this.
Mr Daniel Haefeli and Mr Patrick M Liedtke, both from the Association,explain the key aspects that an appropriate designation process for G-SIFI in insurance should exhibit.
Mr Nigel Brook and Mr Davinder Chhatwal, both of Clyde & Co LLP, look at a recent case dealing with causation and share what the final decision means.
Mr Simon Drimer of Pi Financial Services Intelligence takes a market level sweep across Asian markets’ tied agency channels, looking at agency productivity in the various countries.
Mr Martin Wong of Jardine Lloyd Thompson, Singapore says the market for high net worth individuals is already in the US$5 billion premium league and will only grow bigger.
Ms Wendy Ding of Deacons Shanghai Representative Office gives an overview of the latest relaxation of the prohibition rules against foreign insurers conducting mandatory motor insurance business in China.
Mr Rob Solloway of Aon Benfield gives an overview of the developing agriculture insurance programmes in Asia and the use of sophisticated models and satellite imagery to track weather patterns.
To be serious about social media, insurers need to get their content right, said speakers at the 1st Conference on Social Media & Mobile Marketing for Insurance.
Mr David O’Brien of SCOR GLOBAL LIFE Asia Pacific looks at the region’s regulatory capital demand and lists the various sources of capital to fund this demand.
Mr Wan Saifulrizal of Towers Watson shares his views on the major challenges of the takaful industry in Malaysia, the impact of Risk Based Capital framework and what lies ahead.
Mr Iván González of Swiss Re Corporate Solutions and Mr Oliver Futterknecht of Swiss Re give an overview of the markets in Latin America and the prospects there for international insurers.
Mr Gary Stephen Jackson of CSC Asia-Pacific paints a vivid vision of how an insurance company can use telematics technology to create loyal customers.
Partners Life represents an impressive start-up life insurance success story. Mr Jason Tong of Bravura Solutions tells us that technology was a vital element to this success story.
This year, the annual conference focussed on the theme of the challenges of catastrophe events. Mr Imran Mughal of Jubilee General Insurance Co Ltd brings us the highlights.
The sale of ING Groep’s asset management and life insurance arms in Asia has attracted bids from Japan’s Nikko Asset Management, Australia’s Macquarie Group, US Principal Financial Group, South Korea’s Hanwha Group, Singapore’s United Overseas Bank and others, according to industry observers.
Even as the 1 July embargo looms, South Korea and Japan are asking the European Union to give them access to European insurance for Iranian oil shipments, citing various problems they would face and that it is hard to find alternative covers elsewhere.
Allens Arthur Robinson and Linklaters, both international law firms, have formed a new integrated alliance which they say will result in the two firms working together closely for the benefit of clients around the world.
The Australian and New Zealand Institute of Insurance and Finance (ANZIIF or Institute) has announced a new era of membership services for its 16,000 strong professional membership community.
Despite the flat performance of foreign insurers in China in recent years, foreign investors continue to show interest in the country’s insurance industry.
Chinese insurers can now buy unsecured corporate bonds via underwriters’ book-building process as well as draw on funds from different subsidiaries for investing in equity and real estate.
The IRDA has proposed to tie commission structure to the length of cover for short to medium term insurance products.
Samsung Life has signed an agreement with Investment Corp of Dubai, which oversees the corporate assets of the emirate, to launch an alliance which will focus on emerging markets.
AXA and ERGO Insurance Group have reached an agreement for AXA to acquire 100% of ERGO’s South Korean subsidiary, ERGO Daum Direct.
Aviva is looking to sell its share in its Malaysian joint venture with CIMB Group, a move that is in line with its intention to exit non-core markets.
The DUAL Group, the underwriting arm of Hyperion Insurance Group, will launch DUAL Singapore in the second half of 2012.
Zurich Insurance Group has launched its new life insurance subsidiary in Singapore. The unit, Zurich Life Insurance (Singapore), will target the affluent and emerging affluent residents, said Mr Graham Morall, its CEO.
Ceylinco Insurance has announced a dividend of 65% (INR6.50 or US$0.12 per share) for its shareholders.
The Financial Supervisory Commission (FSC) has urged foreign insurance firms to honour their investment commitments in Taiwan instead of frequently entering and exiting the local market, as seen in the last few years.
For a country that has an estimated 41% of its population living below the poverty line, the provision of regulated microinsurance to the vulnerable people in the community has finally come to realisation.
Ratings company Fitch said in a report that price increases in the July reinsurance renewals are likely to be limited to loss-affected sectors, unless the industry incurs a more significant insured loss.
Lloyd’s has unveiled a new strategy to make it the major global hub for specialist insurance and reinsurance by 2025 and to grow its business in the faster growing markets of Singapore, China, India, Brazil, Mexico, Colombia and Turkey.
The broad adoption of currently available technologies could result in a radical reduction in the auto insurance business, said the financial services research and advisory firm, Celent, in a new report titled “A Scenario: The End of Auto Insurance: What Happens When There Are (Almost) No Accidents”.
Pension costs for governments and employers in major economies are likely to grow significantly in coming years as the population lives longer.
East Timor President, Dr Jose Ramos-Horta, recently visited Singapore insurer First Capital Insurance Ltd, which has invested in East Timor through National Insurance Timor-Leste (NITL), the first general insurer to be licensed and regulated by the Central Bank of Timor-Leste.
Korean Re President & CEO Jong Won Park and 13 of the company’s staff successfully climbed Kala Patthar in the Everest Region on the 10th day of their trek of the Himalayas in April.
The Great Eastern Group launched “Live Great”, an integrated health and wellness programme, which its Group CEO Chris Wei described as a “game changer” and signalled a bold new direction for the life insurance industry.