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  • Industry finds hope in the recommendations!

    It looks like happy days are here again for the reinsurance fraternity in India, as the Reinsurance Expert Committee (REC) has recommended that after GIC Re, insurers should be allowed to obtain the best terms simultaneously from Indian reinsurers, foreign reinsurance branches, Lloyds India and cross-border reinsurers that satisfy eligibility criteria.
     

    Source : AIR | 01 Jan 2018
  • Belt and road initiative: Expansion has its challenges

    China is expanding into new territories while developing new products and services. We spoke to Mr Wise Xu of Willis Towers Watson, China to understand the changing nature of risk.
     

    Source : AIR | 01 Jan 2019
  • Pakistan: Too few life insurers cited as reason for low penetration rate

    Life insurance penetration in Pakistan is low and one reason for this is the existence of a very small number of life insurance players in the market, suggested Mr Faisal Abbasi, CEO of TPL Life Insurance.
     

    Source : AIR | 01 Oct 2017
  • Pakistan: SECP proposes MTPL compensation limit be 10 times current cap

    Among several amendments to be made to the Motor Third Party Liability Insurance (MTPL) Scheme, the Securities and Exchange Commission of Pakistan (SECP) has proposed that the compensation limit be raised 10 times the current level to PKR200,000 (US$1,900) from PKR20,000, in case of death.
     

    Source : AIR | 01 Nov 2017
  • Pakistan: Call for insurers to be allowed to invest in private equity funds

    The financial regulator should allow insurers, pension funds and provident funds to invest in private equity funds, said speakers at a workshop organised by USAID in collaboration with the Securities and Exchange Commission of Pakistan (SECP) in December 2017.
     

    Source : AIR | 01 Feb 2018
  • Pakistan: Infrastructure projects to generate additional premiums of up to US$600 mln

    The China Pakistan Economic Corridor (CPEC), established in 2017, with a number of significant projects starting to kick off, is expected to generate up to US$600 million in additional insurance premiums in the coming years as China invests billions of dollars in creating new motor, rail, power, and energy infrastructure in the country. This estimate is provided by Aon in its Asia Market Review 2018.
     

    Source : AIR | 01 Mar 2018
  • Look out for these what-if scenarios - WEF's 10 potential future shocks

    The growing complexity and interconnectedness of our global systems can lead to feedback loops, threshold effects and cascading disruptions. Sudden and dramatic breakdowns – future shocks – become more likely, according to the Global Risks Report 2018 published by the World Economic Forum.
     

    Source : AIR | 01 Mar 2018
  • Pakistan: Farmers give input to improve crop insurance

    Farmers are urging effective assessment of individual loss, quick settlement of insurance claims, increases in claim amounts and cover for horticulture as well, especially orange orchards and vegetable crops.
     

    Source : AIR | 01 Apr 2018
  • Bancassurance blockbuster partnership

    Bancassurance is one of the main distribution channels for insurers in South Asian markets. We speak to some major players to get their perspective on the state of the market and the future for bancassurance.
     

    Source : AIR | 01 May 2018
  • Pakistan: Call for manpower improvements in insurance sector

    Insurance industry veteran, Muhammad Ishaque Khan, has urged the government, insurance companies and educational institutions to conduct insurance courses to train manpower for the insurance industry.
     

    Source : AIR | 01 Jul 2017
  • Pakistan: Guarantee/surety bond market opens up

    The Securities and Exchange Commission of Pakistan (SECP) has allowed insurance companies to issue guarantees/bonds including custom bonds, fidelity bonds, mobilisation advance guarantees, administration bonds and payment bonds to a party or a group.
     

    Source : AIR | 01 Jul 2018
  • Pakistan: Insurers urged to ensure overseas units meet AML/CFT rules

    The Securities and Exchange Commission of Pakistan (SECP) has made it mandatory for insurers, takaful operators, securities brokers, commodities brokers and other nonbank financial companies to pay special attention to their overseas branches or subsidiaries located in countries which do not or insufficiently comply with Financial Action Task Force recommendations.
     

    Source : AIR | 01 Aug 2018
  • Asian Insurers: Greater Expectations!

    Reinsurers play an increasingly important role in most insurance markets in Asia and each year the expectations grow. So this year, in our coverage to kick start the renewal season with Monte Carlo, we polled a team of “seven wise” insurers around the region from big and small markets to gauge their expectations. Reinsurers have big shoes to fill. The market awaits.
     

    Source : AIR | 01 Sep 2017