New regulations to drive discussions
The variety of new regulations that have come into force in the last few years across a number of jurisdictions in the Asia-Pacific region have the potential to change the reinsurance landscape—and 30.5 percent of readers suggests it will be the main talking point this year at SIRC.
That was the conclusion of an online poll conducted by Intelligent Insurer ahead of the 14th Singapore International Reinsurance Conference asking readers what they believe to be the main talking points at the conference this year.
“The phased liberalisation of motor insurance tariffs in Malaysia is a step in the right direction, allowing the market to price more appropriately for the consumer’s risk profile,” one respondent said.
Another respondent commented on the China Risk Oriented Solvency System (C-ROSS), introduced in 2016: “C-ROSS is shifting the dynamics of the domestic reinsurance space in China. There are concerns that local cedants are being discouraged from offshore reinsurance due to increased risk charges.
“C-ROSS will boost capital efficiency but may turn away global reinsurers which in my opinion is not good for an emerging market.”
Following this, 28.5 percent of readers felt that the softening rates and terms and conditions would be the main talking point at SIRC this year, as reinsurers and their clients have critical discussions surround the upcoming January renewals.
Another 28.5 percent of readers suggested the main talking point would be alternative capacity and its effect on the market, and a further 12.5 percent of readers said it would be consolidation and further mergers and acquisitions (M&A) activity.
Another reader commented: “There are real opportunities for alternative capital and ILS in Japan and Australia, maybe less so in other less catastrophe-prone regions. But I also see its potential in emerging classes of risk such as cyber.”
Get the latest re/insurance news sent to your inbox every day - Sign up to our free email newsletters
Other stories from the SIRC Day Three newsletter
Asia Capital Re boss says it will not seek new buyers after sale talks fall through
Asia is ahead of game in use of open architecture platforms for insurtech
IAG insurtech hub aims to drive innovation in Singapore
Reinsurers grapple with ‘new world disorder’
Keep your discipline when innovating
2018 will be year of blockchain for insurers
Swiss Re eyes agriculture growth in Asia
IoT, AI and enhanced data to transform re/insurance
Robust capitalisation helps global reinsurers weather the storms
‘A long way to go’ to close the gap
Reinsurance helps Sri Lankan insurers absorb volatility
Global reinsurers’ ‘measured response’
AEC will boost penetration in SE Asia
Pricing for non-cat property stable
Qatar Re appoints new CEO of its Singapore branch
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk
Editor's picks
Editor's picks
More articles
Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze