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  • AM Best places innovation at the heart of assessment procedures

    With AM Best releasing an updated draft of its new criteria procedure titled 'Scoring and Assessing Innovation' as well as proposed revisions to Best's Credit Rating Methodology (BCRM), market participants in the insurance industry and other interested parties are requested to submit comments on these draft documents by 31 October 2019.

    Asia | 20 Sep 2019
  • Industry initiative safeguards aviation and aerospace sectors against natural hazards

    With volcanic ash, sandstorms and mineral dust posing major hazards for airlines, a new partnership between the Willis Research Network (WRN) and Mitiga Solutions seeks to combat the issue by providing volcanic ash cloud and sandstorm forecasting to aviation and aerospace clients.

    Asia | 20 Sep 2019
  • 1H2019 Results: Lloyd's records $3bn profit before tax

    Lloyd's pre-tax profit for the first six months of 2019 has jumped to GBP2.3bn ($3bn) from GBP0.6bn in June 2018. The increased profit was underpinned by a combined ratio of 98.8% and investment income of GBP2.3bn as the market benefitted from unrealised gains due to lower US and UK bond yields as well as robust returns from equities.

    Asia | 19 Sep 2019
  • IASB's proposed changes to IFRS17 to have relatively material effects, says AM Best

    Stakeholders have until 25 September to respond to the International Accounting Standards Board (IASB)'s June 2019 exposure draft on amendments to IFRS17. IASB published its proposals after IFRS17 was effectively re-opened for the board to consider limited changes in November 2018 even though it was published in 2017 as a final standard.

    Asia | 19 Sep 2019
  • Modest rise in marine premiums no cure for ailing sector

    Data released by the International Union of Marine Insurance (IUMI) reveals that marine underwriting premiums for 2018 marginally increased by 1% on year to $28.9bn. Although with significant challenges facing the market, the modest rise is not enough to declare an improvement in the fortunes of the marine insurance sector, said IUMI Facts & Figures Committee vice chair Astrid Seltmann.

    AIRPlus | 18 Sep 2019
  • Howden and RKH to merge

    Hyperion Insurance Group will combine its retail and specialist broking businesses, Howden and RKH, under one management team bringing together their international retail network along with specialty and reinsurance expertise respectively.

    Asia | 13 Sep 2019
  • Euler Hermes' digitalisation index features Singapore, Japan and China in top 10

    Singapore, Japan and China have ranked sixth, eighth and ninth in the top 10 of Euler Hermes' Enabling Digitalization Index (EDI).

    Asia | 12 Sep 2019
  • Thinking Ahead Institute reveals top 15 extreme risks for investors

    The Thinking Ahead Institute's (TAI) 'Extreme risks 2019 report and ranking', which categorises rare events that could have a high impact on global economic growth and asset returns, has a new top three- global temperature change, global trade collapse and cyber warfare.

    Asia Risk | 11 Sep 2019
  • Cities have to adapt and become more resilient to tackle climate change

    According to a new report 'Taking the Heat: Making Cities Resilient to Climate Change' by Goldman Sachs Global Markets Institute, cities will be on the frontlines of climate adaptation and building up their resilience has the potential to drive one of the largest infrastructure build-outs in history and will likely require innovative sources of financing.

    Asia Risk | 11 Sep 2019
  • 40% IT professionals want ransomware payments to be made illegal

    According to a new survey conducted by AT&T, 40% of respondent IT security professionals think paying to retrieve data targeted by ransomware should be made illegal.

    Asia Risk | 11 Sep 2019

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