Hang Seng Bank’s Post

23 years ago, 1 SGD was 2.30 MYR. 13 years ago, 1 SGD was 2.44 MYR. 3 years ago, 1 SGD was 3.04 MYR. Today, 1 SGD is 3.55 MYR.   I'm curious, for friends working in Singapore, do you exchange your salary into MYR every month, or only what you need?   And for friends in Malaysia, have you ever thought about saving some SGD?   Feel free to leave comments and exchange ideas!   #sgdtomyr #exchangerate #savings #investment #insurance #insuranceagent

Malaysian Reinsurance Berhad’s parent MNRB Group has showed best-ever results in its 50-year history, tripling its net profit to MYR428.3 million (US$90 million) in FY 2024. https://lnkd.in/gikDyACe The results for the financial year of 2024 which ended March 31, went up from MYR142.6 million the year before, according to a stock exchange filing. The results were primarily fuelled by strong underwriting performance coupled with robust investment returns. The group, which offers reinsurance as well as general and family takaful business, saw its gross written premiums and gross written contributions (GWP/GWC) increase 17.6% year-on-year to MYR4 billion in FY 2024. #Malaysia #FY2024 #reinsurance #results #takaful #underwriting If you are not a subscriber, take our free trial to read the full article: https://lnkd.in/g23jCVrn

The Insurance Regulatory and Development Authority of India move requiring collaterals from cross-border reinsurers (CBRs) is likely to put higher compliance and administrative burdens on reinsurers and squeeze some of them out of the market leading to gaps in cover, reinsurers and reinsurance brokers told InsuranceAsia News.  https://lnkd.in/g3Jcn2yX Prateek Singhal, president at Howden Specialty, said that the logic behind the regulator’s decision is “to safeguard the interests of insurers and the industry at large” as there are times when reinsurance policies are triggered, and there’s been some delay in making payments from the reinsurers. Go beyond the announcement. Take our free trial here: https://lnkd.in/g23jCVrn #analysis #legal #regulatory #reinsurance #india #irdai

Labuan International Business and Financial Centre (Labuan IBFC), an Asian financial hub known for its insurance, reinsurance, Islamic finance, and digital business solutions, achieved significant growth in 2023, with continued expansion expected in 2024 due to its strong regulatory framework and creative strategies, according to Datuk Iskandar Mohd Nuli, Executive Chairman cum CEO. In a recent interview with Reinsurance News, CEO Nuli discussed the performance of the Labuan IBFC in 2023 and so far in 2024, as well as the centre’s views on the captive market, and importantly, its ambitions in the reinsurance industry.... https://lnkd.in/dAc3Yjq6

MAS puts Singapore insurers come under closer watch over reinsurance contracts by requiring all insurers to submit detailed terms and conditions of their reinsurance contracts. This aligns with global concerns highlighted by the International Association of Insurance Supervisors (IAIS) regarding the risks associated with the reinsurance sector, such as increased allocation of capital to alternative assets and the use of cross-border asset-intensive reinsurance which brings about potential liquidity issues, valuation challenges, hidden leverage, and credit risks. https://lnkd.in/ghbNe8s5 #insurancelaw #Singapore #reinsurancelaw

Separate insurance ventures for BNP Paribas and Prudential in China

Korean insurers investment returns to be more volatile Investment returns recognised under #IFRS17 and #IFRS9 could give more surprises, and good #riskmanagement could be more pressing than ever for Korean insurers, said a new report from Fitch Ratings. "We expect recent accounting changes to increase volatility in investment returns, but a steady increase in the release of contractual service margin will continue to support Korean insurers’ profitability,” said Sue Kim, co-author of the report on the near future conditions for the market. Also featuring comment from Swiss Re Institute and Kelly Chung of Value Partners Group. #insuranceinvestment #investmentreturns #insurance #investmentstrategy #marketvolatility #risk Read more here 👇

💭 Emerging Risks 💭 Exciting news for Connect Underwriting Ltd as they launch their new Reinsurance MGA BRICS UW, which will provide capacity to emerging markets. Whilst on the topic, I'm interested to know how you would approach collecting exposure data for emerging risks if you don't know what the major risk factors are? With the occurrence probability so low, how can you successfully manage and mitigate the risk? Any insights would be great! Comment below or let's have a chat - 0204 541 7944 #EmergingRisks #LondonUnderwriting #Insurance

The frequency of natural catastrophes in MENA has exacerbated losses for local insurance and reinsurance companies, creating potential for alternative capital transfer instruments such as insurance-linked securities. We spoke to RB Ventures’ Mr. Rohit Boda about how he sees the market for alternative risk transfer solutions in the region. ✍️ Article written by: Jimmy John #Reinsurance #MENA #Insurance