SIRC concludes with record numbers

The 16th Singapore International Reinsurance Conference (SIRC) concluded on Friday at the Sands Expo and Convention Centre. This year, the conference attracted a record number of over 1,100 delegates representing over 400 companies and 53 countries from the insurance, reinsurance and broking community.

In addition, close to 2,000 visitors visited the conference venue to conduct bilateral meetings and attend the events that took place on the sidelines.

Ms Indranee Rajah, Minister in the Prime Minister’s Office and Second Minister for Finance and Education, was the guest of honour at this year’s SIRC, where she delivered a keynote address on Wednesday, October 30.

Minister Rajah highlighted the intensifying environmental and political headwinds facing the global economy, and the role the reinsurance and insurance industry plays in combating them. She lauded the new, innovative solutions that reinsurers are developing and deploying from Singapore, keeping the city state at the forefront of the insurance industry.

Other speakers at the 16th SIRC included Lloyd’s of London CEO John Neal, Allianz Re CEO Amer Ahmed, Trust Re group CEO Talal Al Zain, Aon global chairman, reinsurance solutions, Dominic Christian, and Willis Towers Watson head of capital science and policy (CSP) practice, Rowan Douglas.

Also speaking were Swiss Re group chief economist,Jérôme Haegeli, Guy Carpenter CEO – international James Nash, Allianz SE CEO – property and casualty Asia Pacific Claudia Salem and GIC Re general manager Devesh Srivastava.

With this year’s theme, ‘Winds of Change’, speakers at the 16th SIRC tackled the priority

challenges facing the re/insurance industry today with the emphasis on sustainability of both business and the environment and how the industry is being reshuffled.

It also addressed pressing industry issues such as the increasing frequency and severity of extreme weather events caused by climate change, industry disruption and digital transformation, as well as the sustainability of the re/insurance business model as operating margins narrow.

Marc Haushofer, chairman of the Singapore Reinsurers’ Association (SRA) and honorary advisor to the 16th SIRC Organising Committee, said: “We would like to extend our gratitude for the overwhelming support we received at the 16th SIRC from our distinguished speakers, partners, meeting hosts, exhibitors and delegates. With their loyal and unstinting support and contributions, the SIRC has grown in size and reputation as an important thought leadership platform and a not-to-be-missed global reinsurance networking rendezvous. We may have raised the bar again this year, but still we look forward to challenging ourselves to do even better next year at the 17th SIRC, taking place from the November 2 to 5, 2020.”

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