As risks continue to evolve, risk experts around the world have to reassess the importance of existing and emerging risks constantly. We spoke to Aon's Mr Joe Peiser on what risk trends the industries in APAC have been seeing, and how Aon is adjusting to those trends.
The International Association of Insurance Supervisors (IAIS) has adopted the first comprehensive global capital standard for insurance supervision, the Insurance Capital Standard (ICS), providing a risk-based measure of capital adequacy for internationally active insurance groups (IAIGs).
The National Financial Regulatory Administration (NFRA) has issued the "Interim Measures for Insurance Asset Risk Classification" to update rules for the risk classification of fixed-income, equity, and real estate assets of the insurance sector.
The Geneva Association has appointed Mr Darren Pain as director of research and Mr Dennis Noordhoek as director of external stakeholder engagement. Both roles are effective 1 January 2025.
The National Insurance Commission (NAICOM) has highlighted the need for the boards of insurance companies to embed robust Governance, Risk, and Compliance (GRC) frameworks in their companies' operations.
Cathay Life Insurance, the largest insurer in Taiwan, is preparing for IFRS 17 and TW ICS implementation in 2026, says CreditSights, a credit research unit of the Fitch Group.
The Capital Market Authority (CMA) has approved a plan by Saudi Reinsurance Company (Saudi Re) to increase its capital through a new share issuance. The approval was granted on 25 November 2024, according to a stock exchange statement issued by Saudi Re.
Non-life insurance companies are considering joint reinsurance to share business with reinsurers as the Bank of Korea lowered interest rates for the second consecutive month in November 2024.
Finance Minister Ms Sihem Boughdiri Nemsia last week announced the establishment of the Tunisian Agency for the Fight against Fraud in the Insurance Sector.
The United Nations Development Programme (UNDP) in Jordan has signed a Memorandum of Understanding (MoU) with the Jordan Insurance Federation (JIF) to deliver advanced Training of Trainers (ToT) programmes on innovative insurance and risk-financing products in Jordan.