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  • P&I clubs in a low-growth world

    "The P&I system is doing a fantastic job of providing affordable insurance to ship owners," said BW Group chairman Andreas Sohmen-Pao at the International Group of P&I clubs inaugural VIP briefing in Singapore yesterday.

    Asia | 06 Dec 2019
  • Clubs are a big buyer of (captive) reinsurance

    The International Group of P&I clubs (IG) chairman Paul Jennings, speaking at its inaugural VIP briefing in Singapore yesterday, noted that the choice of Singapore as the launch pad for the event was a testament to "the importance of Asia to the future of protection and indemnity (P&I)."

    Asia | 06 Dec 2019
  • Global: Daiichi Life invests in World Bank bonds to highlight the challenge of plastics in oceans

    Japan's Daiichi Life Insurance is investing in a five-year Sustainable Development Bond issued by the World Bank to highlight the vital role of the world's freshwater and marine resources and the importance of addressing water and ocean pollution, including plastic waste in oceans.

    Asia | 06 Dec 2019
  • Global: Reinsurers advise insurers to charge vapers higher premiums

    Global reinsurers are stepping up warnings to their life insurer clients about the potential risks of vaping, putting pressure on underwriters to charge certain vapers higher rates than smokers, or even exclude them altogether, reported Reuters.

    Agents | 05 Dec 2019
  • Asia Capital Re in run-off - acquired by Bermuda legacy reinsurer

    Bermuda-based Catalina has reached an in-principle agreement to acquire Singapore-headquartered reinsurer Asia Capital Re (ACR). The acquisition is expected to close in the first half of 2020, subject to regulatory and all other approvals.

    Asia | 05 Dec 2019
  • Global: SCOR launches new contingent capital facility

    SCOR has announced the launch of a new three-year contingent capital facility which takes the form of a contingent equity line, providing the Group with EUR300m ($332m) coverage in case of extreme natural catastrophe or life events impacting mortality. The facility enables the Group to protect its solvency in case of catastrophe events and is consistent with the "Quantum Leap" strategic plan.

    Asia | 05 Dec 2019
  • New female board director for multinational insurer

    Aviva has appointed Ms Amanda Blanc as an independent non-executive director of the company with effect from 2 January 2020. Ms Blanc, an experienced insurance professional, was previously AXA UK and Ireland CEO as well as Zurich Insurance Group EMEA and global banking partnerships CEO. She was also the first woman to be appointed as chair of the Association of British Insurers in 2018.

    Asia | 04 Dec 2019
  • Hong Kong: Industry body calls for IFRS17 to be postponed to 2023

    The Hong Kong Federation of Insurers (HKFI), a self-regulatory body for insurers, is urging the Hong Kong Institute of Certified Public Accountants to consider postponing the effective date of IFRS17 for local insurers to 1 January 2023.

    Asia | 04 Dec 2019
  • As Great Barrier Reef deteriorates, risk management is vital for building up resilience

    The condition of the Great Barrier Reef in Australia is so dire it should be insured for its economic value, according to a new report 'Great Barrier Reef Queensland, Australia.'

    Asia Risk | 04 Dec 2019
  • Chinese fear climate change the most and Americans the least

    The level of concern about climate change is perhaps the highest in China and the least in the United States with Europe in-between.

    Asia Risk | 04 Dec 2019


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