The latest articles and news from Asia Insurance Review
- India: Re/insurance industry creates a new world for itself January 21, 2018 1:10 amIndia today is a land of opportunities, and the ambient business environment in the country is characterised by exuberance and optimism. The feel-good climate is also reflected among reinsurance and insurance market participants who have received a shot-in-the-arm by way of the second phase of liberalisation of the sector, according to Mrs Alice G Vaidyan, Chairman-cum-Managing Director of GIC Re, in her special welcome address at the opening session yesterday of the 11th India Rendezvous in Mumbai.
- Global: Reinsurance capital grows and market stays resilient despite 2017 losses January 21, 2018 1:10 amCapital dedicated to reinsurance continued to grow in 2017 despite catastrophe losses. Due to ongoing excess supply and overall market resilience at 1 January, rate firming was generally moderate and pricing shifts focused on client-specific justification, according to an analysis released yesterday by Guy Carpenter & Company, a leading global risk and reinsurance specialist and a wholly owned subsidiary of Marsh & McLennan Companies.
- Nepal: 20 major ratios for measuring financial soundness of insurers January 21, 2018 1:10 amTo make the supervision of insurance companies more realistic and to move towards the risk based supervisory system, Beema Samiti (Insurance Board) has recently introduced 20 major ratios with reference to the Insurance Core Principles (ICPs) of the International Association of Insurance Supervisory (IAIS).
- Australia: Health insurers submit proposals to ensure affordability January 21, 2018 1:10 amIn order to maintain affordability of private healthcare insurance (PHI) for low and middle income earners and avoid increasing costs in other parts of the health system and economy, the PHI rebate should remain on extras, or ancillary, cover, says Private Healthcare Australia (PHA) which represents health insurers in the country.
- Hong Kong: Insurance market revamps complaints body January 21, 2018 1:10 amThe Insurance Complaints Bureau (ICB) has undergone a revamp and adopted its new name, with plans to expand the scope of its jurisdiction, to handle mediation services and to deal with disputes over non-claim related issues, in the second quarter of this year.