The board of directors of Taiwanese life insurer, Shin Kong Life, has approved a proposal to increase the company's investment in Beijing-headquartered Dingcheng Life Insurance by CNY187.5m ($26.3m), according to a filing with the Taiwan Stock Exchange.
Ensuring the mental well-being of its staff has been a key factor in helping AXA navigate through the COVID-19 pandemic, its CEO for Asia Gordon Watson told Asia Insurance Review recently.
Fraud is becoming an increasing concern as most of the staff of majority of organisations are working remotely due to the social distancing and national lock-downs imposed due to coronavirus pandemic.
The European Commission should create an European Union-based resilience framework to provide insurance cover for catastrophes such as pandemics and huge cyber attacks, the Federation of European Risk Management (FERMA) said on Tuesday.
A positive fallout of the coronavirus pandemic has been the rise in the stature of the chief risk officers. With businesses facing a wide range of threats and challenges to their operations, risk officers are now working with executives and boards of directors to respond to these challenges and threats.
China has in recent decades grown into one of the most important nodes of global supply chains. However, lessons learnt from COVID-19 show that it may be sensible to exercise good risk management and move supply chains away from China, according a new report from management consultancy Avalon Consulting.
The insurance sector has reportedly lobbied the industry regulator to consider the reintroduction of US-dollar denominated policies in a bid to restore value and stability, as the Zimbabwean dollar collapses.
The risk of negative spread for China's insurers is considered manageable as their net investment return is currently 4.6-5.3% (AIA: 3.7%), said DBS Hong Kong in a report issued last month on listed insurers.
Fitch (China) Bohua Credit Ratings has received approval from the People's Bank of China (PBOC) and the National Association of Financial Market Institutional Investors (NAFMII) to rate financial institutions (including insurers, banks, and other non-bank financial institutions) and their securities, and structured finance bonds in China's interbank market, says Fitch Ratings in a statement.
China United Property Insurance (CUPI) has reported that its combined loss ratio rose to 105% in 2019, from 100% in 2018, and averaged 102% during 2017-2019.