Southeast Asian markets now have a window of opportunity to accelerate decarbonisation with actionable ideas and accelerators to unlock these ideas by 2030, according to a report by Bain & Company, GenZero, Standard Chartered and Temasek.
To better help Southeast Asian markets track decarbonisation progress, the region's first SEA Green Economy Index has been launched.
The AIA Group has launched "AIA CAN: An Eco-Office Movement" (AIA CAN) - a large-scale, multi-year programme that seeks to empower over 25,000 employees across 18 markets to adopt environmentally conscious mindsets, attitudes and behaviours to create more sustainable workplaces and a healthier planet.
Kay International AMEA Limited, a boutique reinsurance intermediary and underwriting management agency headquartered in the Dubai International Financial Centre in the United Arab Emirates, has established a wholly-owned subsidiary in Singapore. The objective is to expand its facultative and treaty reinsurance broking and placement services to Southeast Asia.
Members of the ASEAN Reinsurance Working Committee (ARWC) have signed a Memorandum of Understanding (MoU) to support underwriting capacity and set up the terms for the establishment of the ASEAN Renewable Energy Pool (AREP) under the supervision of ASEAN Insurance Council (AIC).
The impact of inflation on ASEAN insurance markets was less than in mature Western markets, as inflation in Southeast Asia was on average lower than in the US or the EU, according to the "ASEAN Insurance Pulse 2023" report.
Vietnam has joined the ASEAN Compulsory Motor Insurance (ACMI) system, which requires motor vehicle owners from other ASEAN member states transiting or travelling to Vietnam to register for compulsory third-party liability insurance.
Continuing from the robust half year results, the AIA Group achieved a substantial 35% in the value of new business (VONB) to US$994 million in the third quarter of 2023.
Consumers in the region are buying more savings-type insurance products through bancassurance than protection products, indicating an area for remediation for bancassurers, indicates Swiss Re Institute in a report titled "Bancassurance in Southeast Asia: Is the model viable?"
Takaful associations in Malaysia and Indonesia are collaborating to share knowledge, conduct joint training programmes, exchange data intelligence and provide consultations on matters related to Islamic finance and takaful. An agreement was inked by the Malaysian Takaful Association (MTA) and Secretariat of Asosiasi Asuransi Syariah Indonesia (AASI) on 27 September to begin these initiatives. The event was held during the Takaful Rendezvous in Kuala Lumpur, Malaysia.