Insurers in Asia-Pacific (APAC) will remain disciplined in asset and liability management as rates rise, says Moody's Investors Service in a report based on a survey of rated insurers in four markets in the region.
Aon has appointed Mr Adam Peckman as head of cyber solutions in Asia Pacific. Under his leadership, the cyber solutions team will bring together cyber broking, security advisory, incident response and risk consulting capabilities across Singapore, Hong Kong, Japan, Australia and New Zealand.
Floods are among the primary hazards of concern and account for most weather-induced displacements according to a new report by the Asian Development Bank and the Internal Monitoring Centre.
China has made tremendous progress in the area of care for senior citizens over the past decade according to National Health Commission of China (NHC).
Life insurers in Indonesia are collaborating with local universities to improve insurance literacy in the country and educational programmes to support demand for talent in the legal and actuarial fields. The Indonesian Life Insurance Association (AAJI) inked a memorandum of understanding with the University of North Sumatra (USU) and a cooperation agreement with the university's faculty of law.
The East Asian Insurance Congress (EAIC) 2022--Diamond Jubilee opened yesterday, marking the return of the organisation's conference that was pushed back due to COVID-19 in 2020.
At the EAIC general business meeting yesterday, the executive committee announced the new executive board for the period of 2022 to 2024. The board comprises:
Reinsurance companies in South and Southeast Asia (S/SEA) posted an improved combined ratio in 2021, although underwriting performance remains pressured with a continued reliance on investments to achieve bottom-line profitability, AM Best notes.
Insurance sector outlooks in several markets around the world could move to 'deteriorating' if high inflation and rising interest rates persist beyond latest forecasts said Fitch in a new report. Such inflation could persist throughout the next year. The agency said in Asia Pacific, the conservative economic scenario entails inflation remaining materially above the 2017-2021 average throughout 2023. It expects to change several Asia Pacific insurance sector outlooks to 'deteriorating' under the conservative economic scenario.
Efforts to improve the standards of the life insurance ecosystem in Singapore must be intrinsic rather than taking a strict rule-based approach according to the Insurance Culture and Conduct Steering Committee (ICCSC). Asia Insurance Review spoke to members of the ICCSC about developments that may follow from the release of its third paper 'Intermediary Culture and Conduct Best Practices - Promoting Ethical Culture and Conduct in Insurance Intermediaries (Life)'