New, emerging risks present opportunities for insurers: MAS
Central bank deputy MD points to cyber risk insurance as a critical component of comprehensive risk management
Singapore
EVEN as global economic growth remains sluggish and alternative capital floods the insurance sector, driving down premiums and narrowing profit margins, new and emerging risks present opportunities to the industry, especially in under-insured Asia.
In her illustration of the sector's outlook at the 13th Singapore International Reinsurance Conference on Tuesday, Jacqueline Loh, deputy managing director of the Monetary Authority of Singapore (MAS) cited cyber, liability, supply chain and reputation - mostly intangible - as examples of these new and emerging risks.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
EU, ISSB agree on minimising overlaps in company climate disclosures
US law firm Mayer Brown to split from Hong Kong partnership
US labour costs rise by most in a year as productivity cools
US trade deficit narrows slightly in March
Canada posts surprise trade deficit as gold exports fell in March
OECD upgrades global growth outlook as US outperforms