ASEAN Insurance Congress is an avenue for young insurance leaders from all parts of ASEAN and neighbouring countries to meet biennially sharing industry updates, market performance and views on important issues relevant to the growth of the ASEAN insurance industry.<\/p>

Current and relevant issues pertaining to the regional insurance industry are discussed from international and local perspectives. High level speakers are invited to share their knowledge, information and views with the delegates.<\/p>

During the social networking, delegates take the opportunity to meet key industry leaders who are the Heads of Regulators, Presidents of Association, Chief Executive Officers and Members of the Board. Delegates will also have the opportunity to establish new business networking with other member countries.<\/p>

\u00a0<\/p>

The Objectives of the Congress
<\/u><\/em><\/strong><\/p>

• The Congress will serve as a forum for insurance professionals to network and exchange knowledge and experience.<\/li>
• Insurance leaders and practitioners will share their knowledge, expertise and views on strategic matters and relevant issues to the insurance industry and to renew and strengthen their fellowships.<\/li>
• Participants will understand the challenges in ASEAN and local market and endeavor to solve these problems in the spirit of solidarity.<\/li>
• Instill a vibrant and dynamic force for the insurance industry to move forward.<\/li><\/ul>

  Topic Highlights<\/u><\/strong><\/p>

  • Future of Insurance<\/li>
  • Building Climate Resilience in the East Asia Seas Region<\/li>
  • ISSB\u2019s Standards on Climate-Related Disclosure and Insurers\u2019 Response<\/li>
  • Innovating in a Disruptive Era \u2013 Driving Growth with Innovative New Insurance Product<\/li>
  • Driving Client-Centricity and Product Innovation Using Big Data<\/li>
  • A New Era of Distribution: Preparing For Rapid Change<\/li>
  • Takaful: Looking at the Fast Market Growth Issues Within ASEAN Countries \/ What are the Shariah Compliance Issues in Takaful Operations and What Are The Future Challenges?<\/li>
  • Reinventing The Claims Journey<\/li>
  • New Horizons in Underwriting: Addressing The Opportunities and Challenges<\/li>
  • Transforming Health Care Delivery and Health Insurance Through Technology While Keeping an Eye on Open Insurance-Related Risks<\/li>
  • Fireside Chat \u2013 Transforming Leadership \u2013 Hybrid Leadership \/ Adaptive Leadership<\/li><\/ul>
    Source:\u00a0https:\/\/www.aitri.org\/aitri\/index.php\/programmes\/asean-insurance-congress<\/a><\/div>","align":"left","typography_typography":"custom","typography_font_family":"Abel","typography_font_weight":"400"},"elements":[],"widgetType":"text-editor"}],"isInner":true}],"isInner":true}],"isInner":false}],"isInner":false}]]]> .wf-wrap { padding-left: 150px; } ]]> http://localhost/aseanweb/insurance-industrys-contribution-to-empowering-asean-for-circular-economy/ Wed, 14 Jun 2023 09:25:35 +0000 http://localhost/asean/?p=3376 Insurance Industry’s Contribution to Empowering ASEAN for Circular Economy

    The ASEAN conducted a virtual multi-stakeholder policy dialogue on Empowering ASEAN for Circular Economy, together with the heads and/or their representatives of Relevant Regional Organizations, on 17 June 2022.  The purpose of this dialogue is to introduce ASEAN’s Work Programme to support the implementation of the Framework for Circular Economy for the ASEAN Economic Community (AEC). The Framework was adopted during the 20^th AEC Council Meeting on 18 October 2022, with the aim “to guide ASEAN in achieving its long-term goals of a resilient economy, resource efficiency, and sustainable and inclusive growth.” (ASEAN, 21 October 2021)

    ASEAN is guided by the following Five Strategic Priorities (SP) in its transition toward a circular economy:

    1. Standard harmonization and mutual recognition of circular products and services
    2. Ensure trade openness and trade facilitation in circular goods and services
    3. Enhanced role of innovation, digitalization, and emerging/green technologies
    4. Sustainable finance and innovative investments
    5. Efficient use of energy and other resources

    During the Dialogue, the Strategic Priority 4 (SP4) was discussed by Dr. Cholifihani of Bappenas. He presented insurance, as one of the innovations in funding, to achieve the short-term goals for the year 2025. He proposed for the involvement of the insurance companies that will support and speed up the implementation of Circular Economy in Agriculture, Energy, and Transportation sectors.

    AIC Agricultural Insurance Working Group (AIC AIWG) under the ASEAN Natural Disaster Research and Works Sharing (ANDREWS) has compiled a report on Agricultural Insurance in ASEAN (unpublished). Thailand’s Rice Insurance Top Up Scheme from the year 2011 to 2021 has served as a model for other ASEAN member states. The article, “What can ASEAN learn from Thailand’s Agriculture Insurance?” may be accessed at: https://aseaninsurancecouncil.org/magazine-insight/

    In relation to the Energy Sector, the AIC’s ASEAN Reinsurance Working Group (ARWG) is undertaking an ASEAN Green Energy Facility/Pool Initiative, spearheaded by Malaysian Re. This is a way by which reinsurers and insurers may invest in renewable resources, and show their support to ASEAN Plan of Action for Energy Cooperation (APAEC), which aims to increase the component of renewable energy to 23% by 2025.

    What is Circular Economy?

    In 2015, the European Parliament defines Circular Economy as “a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible. In this way, the life cycle of products is extended.” (News European Parliament, 2 December 2015)

    On the ASEAN Center for Energy website, it is defined as “the restructuring of the conventional linear and extractive economy into a closed-loop recycling process that regenerates natural systems and designs out waste and its harmful by-products. This concept aims to balance the complex interrelationship between the three pillars of sustainability, namely economic growth, environmental sustainability and social welfare.”

    
    

    
    

    Sources:

    ASEAN, 21 October 2021, ASEAN adopts framework for Circular Economy, accessed at: https://asean.org/asean-adopts-framework-for-circular-economy/ on 17 June 2022.

    ASEAN Center for Energy, 10 November 2021, Finding the Right Path for ASEAN Toward Circular Economy, By Veren Yoshevania Sattvadharma, Syahira Narizta Syahputri and Dynta Trishana Munardy, accessed at: https://aseanenergy.org/finding-the-right-path-for-asean-toward-circular-economy/ accessed on 20 June 2022.

    News European Parliament, 02 December 2015, Circular economy:  definition, importance and benefits, accessed at: https://www.europarl.europa.eu/news/en/headlines/economy/20151201STO05603/circular-economy-definition-importance-and-benefits, accessed on 21 June 2022.

    ]]> 3376 0 0 0 Insurance Industry\u2019s Contribution to Empowering ASEAN for Circular Economy<\/strong><\/p>\n

    The ASEAN conducted a virtual multi-stakeholder policy dialogue on Empowering ASEAN for Circular Economy, together with the heads and\/or their representatives of Relevant Regional Organizations, on 17 June 2022.  The purpose of this dialogue is to introduce ASEAN\u2019s Work Programme to support the implementation of the Framework for Circular Economy for the ASEAN Economic Community (AEC). The Framework was adopted during the 20^{th<\/sup> AEC Council Meeting on 18 October 2022, with the aim \u201cto guide ASEAN in achieving its long-term goals of a resilient economy, resource efficiency, and sustainable and inclusive growth.\u201d (ASEAN, 21 October 2021)<\/p>\n}

    <\/p>\n

    ASEAN is guided by the following Five Strategic Priorities (SP) in its transition toward a circular economy:<\/p>\n

    \n
    1. Standard harmonization and mutual recognition of circular products and services<\/li>\n
    2. Ensure trade openness and trade facilitation in circular goods and services<\/li>\n
    3. Enhanced role of innovation, digitalization, and emerging\/green technologies<\/li>\n
    4. Sustainable finance and innovative investments<\/li>\n
    5. Efficient use of energy and other resources<\/li>\n<\/ol>\n

       During the Dialogue, the Strategic Priority 4 (SP4) was discussed by Dr. Cholifihani of Bappenas. He presented insurance, as one of the innovations in funding, to achieve the short-term goals for the year 2025. He proposed for the involvement of the insurance companies that will support and speed up the implementation of Circular Economy in Agriculture, Energy, and Transportation sectors.<\/p>\n

       <\/p>\n

       AIC Agricultural Insurance Working Group (AIC AIWG) under the ASEAN Natural Disaster Research and Works Sharing (ANDREWS) has compiled a report on Agricultural Insurance in ASEAN (unpublished). Thailand\u2019s Rice Insurance Top Up Scheme from the year 2011 to 2021 has served as a model for other ASEAN member states. The article, \u201cWhat can ASEAN learn from Thailand\u2019s Agriculture Insurance?\u201d may be accessed at: https:\/\/aseaninsurancecouncil.org\/magazine-insight\/<\/a><\/p>\n

       In relation to the Energy Sector, the AIC\u2019s ASEAN Reinsurance Working Group (ARWG) is undertaking an ASEAN Green Energy Facility\/Pool Initiative, spearheaded by Malaysian Re. This is a way by which reinsurers and insurers may invest in renewable resources, and show their support to ASEAN Plan of Action for Energy Cooperation (APAEC), which aims to increase the component of renewable energy to 23% by 2025.<\/p>\n

       What is Circular Economy?<\/p>\n

       In 2015, the European Parliament defines Circular Economy as \u201ca model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible. In this way, the life cycle of products is extended.\u201d (News European Parliament, 2 December 2015)<\/p>\n

       On the ASEAN Center for Energy website, it is defined as \u201cthe restructuring of the conventional linear and extractive economy into a closed-loop recycling process that regenerates natural systems and designs out waste and its harmful by-products. This concept aims to balance the complex interrelationship between the three pillars of sustainability, namely economic growth, environmental sustainability and social welfare.\u201d<\/p>\n

       
       <\/strong><\/p>

       
       <\/strong><\/p>

       Sources:<\/strong><\/p>\n

       ASEAN, 21 October 2021, ASEAN adopts framework for Circular Economy, accessed at: https:\/\/asean.org\/asean-adopts-framework-for-circular-economy\/<\/a> on 17 June 2022.<\/p>\n

       ASEAN Center for Energy, 10 November 2021, Finding the Right Path for ASEAN Toward Circular Economy, By Veren Yoshevania Sattvadharma, Syahira Narizta Syahputri and Dynta Trishana Munardy, accessed at: https:\/\/aseanenergy.org\/finding-the-right-path-for-asean-toward-circular-economy\/<\/a> accessed on 20 June 2022.<\/p>\n

       News European Parliament, 02 December 2015, Circular economy:  definition, importance and benefits, accessed at: https:\/\/www.europarl.europa.eu\/news\/en\/headlines\/economy\/20151201STO05603\/circular-economy-definition-importance-and-benefits<\/a>, accessed on 21 June 2022.<\/p>\n

       <\/p>","typography_typography":"custom","typography_font_family":"Abel","typography_font_weight":"400"},"elements":[],"widgetType":"text-editor"}],"isInner":false}],"isInner":false}]]]> .wf-wrap { padding-left: 300px; } ]]> http://localhost/aseanweb/quarantine-free-entry-into-almost-all-of-asean-with-travel-medical-insurance/ Wed, 14 Jun 2023 09:27:34 +0000 http://localhost/asean/?p=3379 /*! elementor - v3.6.4 - 13-04-2022 */
       .elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=".svg"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block} ]]> 3379 0 0 0 .wf-wrap { padding-left: 150px; } ]]> http://localhost/aseanweb/aic-secretary-general-live-on-cnbcs-money-talks-minimum-capital-requirement-of-insurance-companies-in-indonesia/ Tue, 20 Jun 2023 17:30:12 +0000 https://aseaninsurancecouncil.org/?p=3672 Christian W. Wanandi, CEO of Aswata Insurance and Secretary-General of ASEAN Insurance Council, explored prospects and business challenges in the Insurance Industry amid Indonesia's economic recovery during Money Talks: "Delve into the promising prospects and formidable business challenges that lie ahead in the insurance industry" live on 23 May 2023. With Indonesia's economy on a steady path to recovery, Mr. Christian said that his company's premium has grown by 11% during the first quarter this year and is  optimistic that they will achieve the growth target by the end of the year.  

       

       

       An important issue discussed during the interview was on the planned increase in the minimum capital requirement of insurance companies in Indonesia to IDR 500 billion in 2026 and IDR 1 trillion in 2028. Accordng to Mr. Christian, the insurance companies in Indonesia will have to prepare for the imposition of this regulation but he is hoping that there will be thorough study that will be conducted taking into consideration the performance of the industry players and penetration rate which is still quite low. He also cited that our ASEAN neighbors' minimum capital requirement would only be around USD 25 million at most. Please refer to the table below.

        

       

       

       

       ]]> 3672 0 0 0 Christian W. Wanandi, CEO of Aswata Insurance and Secretary-General of ASEAN Insurance Council, explored prospects and business challenges in the Insurance Industry amid Indonesia's economic recovery during Money Talks: \"Delve into the promising prospects and formidable business challenges that lie ahead in the insurance industry\" live on 23 May 2023. With Indonesia's economy on a steady path to recovery, Mr. Christian said that his company's premium has grown by 11% during the first quarter this year and is  optimistic that they will achieve the growth target by the end of the year.  <\/p>\n

       <\/p>","align":"justify","typography_typography":"custom","typography_font_family":"Poppins","typography_font_weight":"400"},"elements":[],"widgetType":"text-editor"},{"id":"3eaa95cb","elType":"widget","settings":{"scroller":[{"id":7780,"url":"https:\/\/aseaninsurancecouncil.org\/demo\/wp-content\/uploads\/2023\/06\/Money-Talk-CNBC-1-1-1.png"},{"id":7772,"url":"https:\/\/aseaninsurancecouncil.org\/demo\/wp-content\/uploads\/2023\/11\/Money-Talk-CNBC-3.png"}]},"elements":[],"widgetType":"the7_photo-scroller"},{"id":"77419291","elType":"widget","settings":{"editor":"

       An important issue discussed during the interview was on the planned increase in the minimum capital requirement of insurance companies in Indonesia to IDR 500 billion in 2026 and IDR 1 trillion in 2028. Accordng to Mr. Christian, the insurance companies in Indonesia will have to prepare for the imposition of this regulation but he is hoping that there will be thorough study that will be conducted taking into consideration the performance of the industry players and penetration rate which is still quite low. He also cited that our ASEAN neighbors' minimum capital requirement would only be around USD 25 million at most. Please refer to the table below.<\/p>

       \u00a0<\/p>","align":"justify","typography_typography":"custom","typography_font_family":"Poppins","typography_font_weight":"400"},"elements":[],"widgetType":"text-editor"},{"id":"cd597fa","elType":"widget","settings":{"scroller":[{"id":7767,"url":"https:\/\/aseaninsurancecouncil.org\/demo\/wp-content\/uploads\/2023\/11\/Minimum-Capital-for-Insurance-Companies-in-the-ASEAN-1_Page_1.png"},{"id":7768,"url":"https:\/\/aseaninsurancecouncil.org\/demo\/wp-content\/uploads\/2023\/11\/Minimum-Capital-for-Insurance-Companies-in-the-ASEAN-1_Page_2.png"},{"id":7769,"url":"https:\/\/aseaninsurancecouncil.org\/demo\/wp-content\/uploads\/2023\/11\/Minimum-Capital-for-Insurance-Companies-in-the-ASEAN-1_Page_3.png"}]},"elements":[],"widgetType":"the7_photo-scroller"}],"isInner":true}],"isInner":true}],"isInner":false}],"isInner":false}]]]> .wf-wrap { padding-left: 300px; } ]]> http://localhost/aseanweb/?p=3885 Mon, 17 Jul 2023 08:30:36 +0000 https://aseaninsurancecouncil.org/?p=3885 3885 0 0 0 http://localhost/aseanweb/development-of-agricultural-insurance-in-the-asean-region/ Tue, 18 Jul 2023 09:05:42 +0000 https://aseaninsurancecouncil.org/?p=3906

       

       Speech delivered by Secretary-General Christian W. Wanandi

       International Conference on Agriculture Insurance: Scalability and Sustainability

       Thursday, June 8, 2023

       At the Ministry of National Development Planning The Republic of Indonesia

        

       ASEAN Matters: Epicentrum of Growth

       Indonesia, as the Chair of ASEAN 2023, has chosen “ASEAN Matters:  Epicentrum of Growth” as its theme. What is the implication of this on the Agriculture Industry in a region where employment is mostly dependent on labor-intensive industry such as Agriculture?

       If the growth that we are aiming for should be inclusive and sustainable, then we need to pay more attention to our farmers, fisherfolk and others whose livelihood is dependent on mother earth.

       It is interesting to note that although the contribution of the Agriculture Industry in some countries’ overall income (Gross Domestic Product) is not so significant like in Indonesia, Philippines, Thailand, and Vietnam, the agriculture industry employs one-fourth to almost one-third of these countries’ population.

       This shows that although the value of agriculture is small in the overall economies of these four countries, it’s employing a quarter to almost one-third of its population. This is a good enough reason why we need to protect the livelihood of our farmers.  If their produce would be destroyed because of natural disasters, a large part of the population would be affected.

        

       Disaster-Prone Countries

       We are now bracing for the effects of climate change on our agricultural workers’ fragile source of livelihood, which we are dependent on for our country’s food security.

       Three ASEAN member states were ranked in the Top 12 among countries with the highest overall disaster risk in 2022. The Philippines is ranked first; Indonesia is third and Vietnam is number twelve.

       It is also predicted that we will be experiencing El Niño this year. In most countries of Southeast Asia, this would mean that we will be experiencing dryer summer and bracing for the threat of wildfires.

       The implication would be a reduction in the farmers’ output and decline in food production and an overall reduction in the country’s GDP. The ones who will suffer the most would be the developing countries. That would mean 8 out of the 10 ASEAN member states.

       What solutions can we offer to mitigate this impending catastrophe?

        

       Public-Private Partnership 

       The private sector, international institutions, and the government should work together.

       The successful implementation of the Thai Rice Insurance Top Up Scheme is a good example where the Private and Government sectors worked together to provide assistance to farmers who needed it the most. Compared to different insurance schemes in the ASEAN region, Thai Rice insurance provided assistance to the greatest number of farmers, 7.6 million, with a penetration rate of 40% in 2022.

       Through International Conferences such as this, we will be able to learn from one another and implement the best practices already tried and tested in other countries.

       There is also a need to conduct a comparative study of policies and regulations of Agricultural Insurance of ASEAN member states.

       Going back to the theme of ASEAN as the Epicentrum of Growth, the ASEAN-Business Advisory Council (ASEAN-BAC) is focused on five areas of policy reforms and one of them is food security. One path to achieve this is by protecting our farmers through an Agricultural Insurance Scheme. Food is a basic need. When we can achieve food security, it will bring about political and economic stability.

       We hope that through this international conference, we will be able to provide inputs to National Development Planning Agency/BAPPENAS in its mission to develop policy direction toward sustainable and scalable agriculture insurance under National Mid-Term Development Plan 2024-2029. We would like to thank them and Japan International Cooperation Agency for partnering with ASEAN Insurance Council to hold this International Conference.

       My special thanks to Members of ASEAN Natural Disaster Report and Works Sharing (ANDREWS) and Agricultural Insurance Working Group (AIWG) who flew in from different parts of Southeast Asia to be with us today. Our members are partners with government in ensuring that farmers are protected.

       We look forward to a brighter future because farmers are now better educated, technologically savvy and agriculture industry will appear more attractive to younger generation if and only if government and us, private sector, will do our part.

       Thank you.

       ]]> 3906 0 0 0 Speech delivered by Secretary-General Christian W. Wanandi<\/i><\/span><\/p>

       International Conference on Agriculture Insurance: Scalability and Sustainability<\/span><\/p>

       Thursday, June 8, 2023<\/span><\/p>

       At the Ministry of National Development Planning The Republic of Indonesia<\/span><\/p>

       \u00a0<\/b><\/em><\/span><\/p>

       ASEAN Matters: Epicentrum of Growth<\/b><\/em><\/span><\/p>

       Indonesia, as the Chair of ASEAN 2023, has chosen \u201cASEAN Matters:\u00a0 Epicentrum of Growth\u201d as its theme. What is the implication of this on the Agriculture Industry in a region where employment is mostly dependent on labor-intensive industry such as Agriculture?<\/span><\/p>

       If the growth that we are aiming for should be inclusive and sustainable, then we need to pay more attention to our farmers, fisherfolk and others whose livelihood is dependent on mother earth.<\/span><\/p>

       It is interesting to note that although the contribution of the Agriculture Industry in some countries\u2019 overall income (Gross Domestic Product) is not so significant like in Indonesia, Philippines, Thailand, and Vietnam, the agriculture industry employs one-fourth to almost one-third of these countries\u2019 population.<\/span><\/p>

       This shows that although the value of agriculture is small in the overall economies of these four countries, it\u2019s employing a quarter to almost one-third of its population. This is a good enough reason why we need to protect the livelihood of our farmers.\u00a0 If their produce would be destroyed because of natural disasters, a large part of the population would be affected.<\/span><\/p>

       \u00a0<\/p>

       Disaster-Prone Countries<\/b><\/em><\/span><\/p>

       We are now bracing for the effects of climate change on our agricultural workers\u2019 fragile source of livelihood, which we are dependent on for our country\u2019s food security.<\/span><\/p>

       Three ASEAN member states were ranked in the Top 12 among countries with the highest overall disaster risk in 2022. The Philippines is ranked first; Indonesia is third and Vietnam is number twelve.<\/span><\/p>

       It is also predicted that we will be experiencing El Ni\u00f1o this year. In most countries of Southeast Asia, this would mean that we will be experiencing dryer summer and bracing for the threat of wildfires.<\/span><\/p>

       The implication would be a reduction in the farmers\u2019 output and decline in food production and an overall reduction in the country\u2019s GDP. The ones who will suffer the most would be the developing countries. That would mean 8 out of the 10 ASEAN member states.<\/span><\/p>

       What solutions can we offer to mitigate this impending catastrophe?<\/span><\/p>

       \u00a0<\/p>

       Public-Private Partnership\u00a0<\/b><\/em><\/span><\/p>

       The private sector, international institutions, and the government should work together.<\/span><\/p>

       The successful implementation of the Thai Rice Insurance Top Up Scheme is a good example where the Private and Government sectors worked together to provide assistance to farmers who needed it the most. Compared to different insurance schemes in the ASEAN region, Thai Rice insurance provided assistance to the greatest number of farmers, 7.6 million, with a penetration rate of 40% in 2022.<\/span><\/p>

       Through International Conferences such as this, we will be able to learn from one another and implement the best practices already tried and tested in other countries.<\/span><\/p>

       There is also a need to conduct a comparative study of policies and regulations of Agricultural Insurance of ASEAN member states.<\/span><\/p>

       Going back to the theme of ASEAN as the Epicentrum of Growth, the ASEAN-Business Advisory Council (ASEAN-BAC) is focused on five areas of policy reforms and one of them is food security. One path to achieve this is by protecting our farmers through an Agricultural Insurance Scheme. Food is a basic need. When we can achieve food security, it will bring about political and economic stability.<\/span><\/p>

       We hope that through this international conference, we will be able to provide inputs to National Development Planning Agency\/BAPPENAS in its mission to develop policy direction toward sustainable and scalable agriculture insurance under National Mid-Term Development Plan 2024-2029. We would like to thank them and Japan International Cooperation Agency for partnering with ASEAN Insurance Council to hold this International Conference.<\/span><\/p>

       My special thanks to Members of ASEAN Natural Disaster Report and Works Sharing (ANDREWS) and Agricultural Insurance Working Group (AIWG) who flew in from different parts of Southeast Asia to be with us today. Our members are partners with government in ensuring that farmers are protected.<\/span><\/p>

       We look forward to a brighter future because farmers are now better educated, technologically savvy and agriculture industry will appear more attractive to younger generation if and only if government and us, private sector, will do our part.<\/span><\/p>

       Thank you.<\/span><\/p>","typography_typography":"custom","typography_font_family":"Poppins","typography_font_weight":"400","align":"justify","_padding":{"unit":"px","top":"100","right":"0","bottom":"0","left":"300","isLinked":false},"typography_font_size":{"unit":"px","size":18,"sizes":[]}},"elements":[],"widgetType":"text-editor"}],"isInner":false}],"isInner":false}]]]> .wf-wrap { padding-left: 300px; } ]]> http://localhost/aseanweb/arwc-chair-speaks-on-asean-green-energy-insurance-pool-at-the-indonesia-sustainability-forum-2023/ Mon, 11 Sep 2023 05:53:39 +0000 https://aseaninsurancecouncil.org/?p=4295 On the second day of the Indonesia Sustainability Forum, ASEAN Reinsurance Working Committee (ARWC) Chair Delil Khairat, was one of the panel speakers on Green Business Opportunities in Indonesia, moderated by Mr. Marko Lackovic, Managing Director & Partner of BCG Singapore on 8 September 2023 at Park Hyatt Hotel Jakarta.

       Chair Delil explained the role of insurers in promoting sustainability and hastening the transition to renewable/cleaner energy. There is a transition risk that has to do with the effort in transitioning from brown to green economy. This will involve a lot of investments with such a high uncertainty that would make costs too high and therefore unaffordable for the economy. So, this is where the insurance industry comes into the scene.

       Insurers will take over some of the risks so that the investment in green businesses become more affordable for the investors, financiers, and entrepreneurs.

       Although it won’t be easy for insurers because they are faced with challengers. He said that there two reasons that made Green Energy such a high risk to the insurance industry: 1) there is lack of past data which are usually used by actuaries to predict the risk; and 2) there is lack of understanding of the risk itself since green energy/renewable energy is an innovation with a new technology that not many people know about just yet.

       Insurers, he said, are happy to support the global sustainability agenda, but that the insurance industry must be sustainable on its own. Otherwise, everything will become unsustainable. Risks have to be shared or transferred and businesses also need to bear some of these risks.

       To make green businesses, a high-risk industry, affordable, the ASEAN reinsurers, through the ARWC, need to pool their expertise and financial capability to deal with these challengers. The ARWC, chaired by Indonesia Re for the period of 2023-2024 (Malaysia Re, Chair 2021-2022 introduced this idea in 2021) of the ASEAN Insurance Council (AIC) is collaborating among its members to pool their resources.

       Chair Delil also took the opportunity to invite Dr. Ridha Wirakusumah, CEO of the Indonesian Investment Authority, and private businesses to invest in the insurance industry in support to the hastening shift from the brown to green economy.

       Collaboration is the solution!

       ]]> 4295 0 0 0 .wf-wrap { padding-left: 300px; } ]]> On the second day of the Indonesia Sustainability Forum, ASEAN Reinsurance Working Committee (ARWC) Chair Delil Khairat, was one of the panel speakers on Green Business Opportunities in Indonesia, moderated by Mr. Marko Lackovic, Managing Director & Partner of BCG Singapore on 8 September 2023 at Park Hyatt Hotel Jakarta.<\/p>

       Chair Delil explained the role of insurers in promoting sustainability and hastening the transition to renewable\/cleaner energy. There is a transition risk that has to do with the effort in transitioning from brown to green economy. This will involve a lot of investments with such a high uncertainty that would make costs too high and therefore unaffordable for the economy. So, this is where the insurance industry comes into the scene.<\/p>

       Insurers will take over some of the risks so that the investment in green businesses become more affordable for the investors, financiers, and entrepreneurs.<\/p>

       Although it won\u2019t be easy for insurers because they are faced with challengers. He said that there two reasons that made Green Energy such a high risk to the insurance industry: 1) there is lack of past data which are usually used by actuaries to predict the risk; and 2) there is lack of understanding of the risk itself since green energy\/renewable energy is an innovation with a new technology that not many people know about just yet.<\/p>

       Insurers, he said, are happy to support the global sustainability agenda, but that the insurance industry must be sustainable on its own. Otherwise, everything will become unsustainable. Risks have to be shared or transferred and businesses also need to bear some of these risks.<\/p>

       To make green businesses, a high-risk industry, affordable, the ASEAN reinsurers, through the ARWC, need to pool their expertise and financial capability to deal with these challengers. The ARWC, chaired by Indonesia Re for the period of 2023-2024 (Malaysia Re, Chair 2021-2022 introduced this idea in 2021) of the ASEAN Insurance Council (AIC) is collaborating among its members to pool their resources.<\/p>

       Chair Delil also took the opportunity to invite Dr. Ridha Wirakusumah, CEO of the Indonesian Investment Authority, and private businesses to invest in the insurance industry in support to the hastening shift from the brown to green economy.<\/p>

       Collaboration is the solution!<\/p>","align":"justify","_padding":{"unit":"px","top":"100","right":"100","bottom":"100","left":"300","isLinked":false},"typography_typography":"custom","typography_font_family":"Poppins"},"elements":[],"widgetType":"text-editor"}],"isInner":false}]]]> http://localhost/aseanweb/50th-year-of-asean-japan-friendship-and-cooperation/ Mon, 29 Jan 2024 04:02:32 +0000 https://aseaninsurancecouncil.org/?p=9029 Disaster Risk Reduction and Loss Prevention. Efforts and Initiatives of General Insurance Industry in Japan in relation to Sendai Framework for Disaster Risk Reduction 2015-2030

        

        

       

       ]]> 9029 0 0 0 .wf-wrap { padding-left: 300px; } ]]> Disaster Risk Reduction and Loss Prevention. Efforts and Initiatives of General Insurance Industry in Japan in relation to Sendai Framework for Disaster Risk Reduction 2015-2030<\/p>

       \u00a0<\/p>

       \u00a0<\/p>

       <\/a> <\/a> <\/a><\/p>","typography_typography":"custom","typography_font_family":"Poppins","typography_font_size":{"unit":"px","size":20,"sizes":[]}},"elements":[],"widgetType":"text-editor"}],"isInner":false}]]]> http://localhost/aseanweb/number-of-companies-in-the-asean-insurance-industry/ Thu, 06 Jun 2024 09:12:49 +0000 https://aseaninsurancecouncil.org/?p=10629 ]]> 10629 0 0 0 .wf-wrap { padding-left: 300px; } ]]> http://localhost/aseanweb/congratulations-to-arwc-members-on-the-operationalisation-of-asean-renewable-energy-pool-arep-2/ Thu, 01 Aug 2024 18:11:19 +0000 https://aseaninsurancecouncil.org/?p=11058

       Congratulations to ARWC Members on the Operationalisation of ASEAN Renewable Energy Pool (AREP)

       The 5th ASEAN Reinsurance Working Group (ARWG) Meeting was successfully hosted by Indonesia Re at The Westin Jakarta. The event took place on 23 July 2024 in the Denpasar Meeting Room, marking a significant milestone for the region’s renewable energy sector.

       The highlight of the meeting was the insightful presentation by Ahmad Noor Azhari Abdul Manaf, President & CEO of Malaysian Reinsurance Berhad, on the latest development of AREP which commenced operations on 1 July 2024. AREP is now available as a capacity market for renewable energy facultative reinsurance for the ASEAN region. Chubb Asia Pacific Pte. Ltd. serves as the Lead Underwriter for this initiative, with Guy Carpenter as the broker. This collaboration signifies a major advancement in insurance coverage and support for renewable energy businesses and projects across ASEAN.

       With Chubb’s extensive experience not only in the ASEAN region, but they also add a unique flavour by bringing valuable technical knowledge transfer within the underwriting committee of AREP This strategy enhances the Technical Underwriting Committee’s diversity, with each ASEAN member contributing insights from their respective markets.

       By integrating these perspectives, the platform ensures that the pooled expertise and insights drive informed and balanced underwriting decisions. This collective effort establishes robust and cohesive support specifically tailored for managing renewable energy risks across the ASEAN region. Through the exchange of best practices and underwriting expertise, the pool aims to enhance underwriting capabilities regionally, enabling all members to benefit from shared learning and development opportunities.

       Present during the meeting were: Malaysian Reinsurance Berhad as the Pool Manager, represented by the President & CEO Ahmad Noor Azhari Abdul Manaf and members of the pool and their representatives, namely: Cambodian Reinsurance Company, Ty Atith; PT Reasuransi Indonesia Utama (Persero), ARWC Chair Delil Khairat; National Reinsurance Corporation of the Philippines (Nat Re), Jose Augurio N. De Vera Jr.; Thai Reinsurance Public Company Limited, Oran Vongsuraphichet; and Vietnam National Reinsurance Corporation (Vietnam), Dao Manh Duong. There were also guest attendees from Chubb Asia Pacific Pte Ltd, represented by Kevin Stevens and Guy Carpenter & Company, represented by Danny Lai.

       ]]> 11058 0 0 0 .wf-wrap { padding-left: 300px; } ]]> Congratulations to ARWC Members on the Operationalisation of ASEAN Renewable Energy Pool (AREP)<\/p>\n

       The 5th ASEAN Reinsurance Working Group (ARWG) Meeting was successfully hosted by Indonesia Re at The Westin Jakarta. The event took place on 23 July 2024 in the Denpasar Meeting Room, marking a significant milestone for the region\u2019s renewable energy sector.<\/p>\n

       The highlight of the meeting was the insightful presentation by Ahmad Noor Azhari Abdul Manaf, President & CEO of Malaysian Reinsurance Berhad, on the latest development of AREP which commenced operations on 1 July 2024. AREP is now available as a capacity market for renewable energy facultative reinsurance for the ASEAN region. Chubb Asia Pacific Pte. Ltd. serves as the Lead Underwriter for this initiative, with Guy Carpenter as the broker. This collaboration signifies a major advancement in insurance coverage and support for renewable energy businesses and projects across ASEAN.<\/p>\n

       With Chubb\u2019s extensive experience not only in the ASEAN region, but they also add a unique flavour by bringing valuable technical knowledge transfer within the underwriting committee of AREP This strategy enhances the Technical Underwriting Committee\u2019s diversity, with each ASEAN member contributing insights from their respective markets.<\/p>\n

       By integrating these perspectives, the platform ensures that the pooled expertise and insights drive informed and balanced underwriting decisions. This collective effort establishes robust and cohesive support specifically tailored for managing renewable energy risks across the ASEAN region. Through the exchange of best practices and underwriting expertise, the pool aims to enhance underwriting capabilities regionally, enabling all members to benefit from shared learning and development opportunities.<\/p>\n

       Present during the meeting were: Malaysian Reinsurance Berhad as the Pool Manager, represented by the President & CEO Ahmad Noor Azhari Abdul Manaf and members of the pool and their representatives, namely: Cambodian Reinsurance Company, Ty Atith; PT Reasuransi Indonesia Utama (Persero), ARWC Chair Delil Khairat; National Reinsurance Corporation of the Philippines (Nat Re), Jose Augurio N. De Vera Jr.; Thai Reinsurance Public Company Limited, Oran Vongsuraphichet; and Vietnam National Reinsurance Corporation (Vietnam), Dao Manh Duong. There were also guest attendees from Chubb Asia Pacific Pte Ltd, represented by Kevin Stevens and Guy Carpenter & Company, represented by Danny Lai.<\/p>","align":"justify","typography_typography":"custom","typography_font_family":"Poppins","typography_font_weight":"400","_padding":{"unit":"px","top":"50","right":"0","bottom":"0","left":"200","isLinked":false},"text_color":"#676767","typography_font_size":{"unit":"px","size":16,"sizes":[]}},"elements":[],"widgetType":"text-editor"}],"isInner":false}]]]> http://localhost/aseanweb/11th-asean-council-of-bureaux-working-group-meeting-cob-wg-hoi-an-vietnam/ Thu, 29 Aug 2024 07:38:10 +0000 https://aseaninsurancecouncil.org/?p=11692 ASEAN National Bureaux of Insurance Renew Commitment to E-Blue Card During The 11th COB-WG Meeting The 11th ASEAN Council of Bureaux (COB)-Working Group (COB-WG) meeting was successfully held on 9 August 2024 at Vinpearl Nam Hoi An, Vietnam. This event was attended by the COB Chair Nguyen Anh Tuan and Vice Chair Vasit Lamsam, with representatives from eight ASEAN member states, namely: Cambodia, Indonesia, Laos, Myanmar, Philippines, Singapore, Thailand, and Vietnam, and staff from the ASEAN Secretariat and AIC Secretariat. One of the main discussions focused on the ASEAN Blue Card Scheme. The meeting reviewed progress on the ASEAN Compulsory Motor Vehicle Insurance (ACMI) System. The COB members emphasized the need for increased public awareness and the enforcement of the Blue Card as a verification document at border checkpoints. Online purchase of the E-blue card is available for five (5) countries at www.aseancob.org It’s definitely more convenient for drivers to purchase the blue card online rather than purchasing it from the offices of the national bureaux of insurance. Since the e-Blue Card (insurance certificate of ACMI) could easily be purchased online before crossing the border, COB members hoped that the number of units of policies purchased will increase. In regard to the ASEAN Federation of Forwarders Association (AFFA)’s request for COB members to share the contact information of insurance companies offering cargo liability insurance has been resolved. COB members already emailed their list to the AIC Secretariat. The AIC Executive Director presented the compiled list of insurance companies offering liability insurance for the "Carriage of Goods by Road," designed to facilitate inter-state transport and Goods in Transit. She thanked the members for the list and informed them that it was already forwarded to the AFFA Chair. The AFFA Chair, in turn, will email any feedback from its members for engaging in the services of these insurance companies, if there is any. Additional matters discussed included the utilization of the Transport Monitoring Systems (TMS), and a presentation from Singapore on the EU Card System as a model for the ASEAN COB Blue Card System. The meeting concluded with the notification that the date and venue for the 12th COB-WG meeting in 2025 will be announced by Brunei Darussalam, as the next COB Chair, as soon as possible. For more photos of the meeting, please click on this link: 11th ASEAN Council of Bureaux Working Group Meeting (COB-WG) Hoi An, Vietnam - aseancob]]> 11692 0 0 0 .wf-wrap { padding-left: 300px; } ]]> ASEAN National Bureaux of Insurance Renew Commitment to E-Blue Card During The 11th COB-WG Meeting<\/p>

       The 11th ASEAN Council of Bureaux (COB)-Working Group (COB-WG) meeting was successfully held on 9 August 2024 at Vinpearl Nam Hoi An, Vietnam. This event was attended by the COB Chair Nguyen Anh Tuan and Vice Chair Vasit Lamsam, with representatives from eight ASEAN member states, namely: Cambodia, Indonesia, Laos, Myanmar, Philippines, Singapore, Thailand, and Vietnam, and staff from the ASEAN Secretariat and AIC Secretariat.<\/p>

       One of the main discussions focused on the ASEAN Blue Card Scheme. The meeting reviewed progress on the ASEAN Compulsory Motor Vehicle Insurance (ACMI) System. The COB members emphasized the need for increased public awareness and the enforcement of the Blue Card as a verification document at border checkpoints.<\/p>

       Online purchase of the E-blue card is available for five (5) countries at www.aseancob.org<\/a> It\u2019s definitely more convenient for drivers to purchase the blue card online rather than purchasing it from the offices of the national bureaux of insurance.<\/p>

       Since the e-Blue Card (insurance certificate of ACMI) could easily be purchased online before crossing the border, COB members hoped that the number of units of policies purchased will increase.<\/p>

       In regard to the ASEAN Federation of Forwarders Association (AFFA)\u2019s request for COB members to share the contact information of insurance companies offering cargo liability insurance has been resolved. COB members already emailed their list to the AIC Secretariat. The AIC Executive Director presented the compiled list of insurance companies offering liability insurance for the \"Carriage of Goods by Road,\" designed to facilitate inter-state transport and Goods in Transit. She thanked the members for the list and informed them that it was already forwarded to the AFFA Chair. The AFFA Chair, in turn, will email any feedback from its members for engaging in the services of these insurance companies, if there is any.
       Additional matters discussed included the utilization of the Transport Monitoring Systems (TMS), and a presentation from Singapore on the EU Card System as a model for the ASEAN COB Blue Card System.<\/p>

       The meeting concluded with the notification that the date and venue for the 12th COB-WG meeting in 2025 will be announced by Brunei Darussalam, as the next COB Chair, as soon as possible.<\/p>

       For more photos of the meeting, please click on this link: 11th ASEAN Council of Bureaux Working Group Meeting (COB-WG) Hoi An, Vietnam - aseancob<\/a><\/p>","align":"justify","typography_typography":"custom","typography_font_family":"Poppins","typography_font_weight":"400","_padding":{"unit":"px","top":"50","right":"0","bottom":"0","left":"200","isLinked":false},"text_color":"#676767","typography_font_size":{"unit":"px","size":16,"sizes":[]}},"elements":[],"widgetType":"text-editor"}],"isInner":false}]]]> http://localhost/aseanweb/mou-signing-ceremony-on-asean-renewable-energy-pool/ Fri, 11 Oct 2024 06:39:34 +0000 https://aseaninsurancecouncil.org/?p=11905 On December 8, 2023, the ASEAN Reinsurance Working Committee (ARWC) signed a Memorandum of Understanding (MOU) to pledge support through underwriting capacity and establish the terms for the ASEAN Renewable Energy Pool (AREP). This initiative is under the supervision of the ASEAN Insurance Council (AIC) and was formalized during the 26th ASEAN Insurance Regulators’ Meeting & 49th ASEAN Insurance Council Meeting in Ha Long, Vietnam.

       The concept of AREP was initially proposed by Malaysian Re, Chair of the ARWC for the 2021-2022 term, during the 4th ARWC meeting on 15 October 2021. The proposal aimed to create a facility or pool to support ASEAN governments’ renewable energy policies.

        

       The MOU signifies a joint commitment from the participating ARWC Members under the supervision of AIC, to collaborate, and lead ASEAN (re)insurance industry to support ASEAN countries’ effort to achieve net zero emission target and deal effectively with climate change.

        

       AREP commenced operations on 1 July 2024 and is now available as a capacity market for renewable energy facultative reinsurance across the ASEAN region, offering a capacity of USD 40 million to support operational onshore solar and wind projects to address the evolving needs of the market. Presently there are 7 participating members for this collaboration which includes Malaysian Re (as Pool Manager), PT Reasuransi Indonesia Utama (Persero) (Indonesia Re), Vietnam National Reinsurance Corporation (VINARE), Cambodian Reinsurance Company (Cambodia Re), National Reinsurance Corporation of the Philippines (Nat Re), Hannover Re, Malaysia and Chubb Asia Pacific Pte. Ltd. who serves as the Lead Underwriter for this initiative, with Guy Carpenter acting as the broker. This collaboration marks a significant advancement in insurance coverage and support for renewable energy businesses and projects across ASEAN.

        

       Chubb’s extensive experience in the ASEAN region, combined with their valuable technical knowledge transfer within the underwriting committee of AREP, enhances the diversity of the Technical Underwriting Committee. Each ASEAN member contributes insights from their respective markets, enriching the platform with varied perspectives.

        

       By integrating these perspectives, the platform ensures that the pooled expertise and insights drive informed and balanced underwriting decisions. This collective effort establishes robust and cohesive support specifically tailored for managing renewable energy risks across the ASEAN region. Through the exchange of best practices and underwriting expertise, the pool aims to enhance regional underwriting capabilities, enabling all members to benefit from shared learning and development opportunities.

       ]]> 11905 0 0 0 .wf-wrap { padding-left: 300px; } ]]> On December 8, 2023, the ASEAN Reinsurance Working Committee (ARWC) signed a Memorandum of Understanding (MOU) to pledge support through underwriting capacity and establish the terms for the ASEAN Renewable Energy Pool (AREP). This initiative is under the supervision of the ASEAN Insurance Council (AIC) and was formalized during the 26th ASEAN Insurance Regulators\u2019 Meeting & 49th ASEAN Insurance Council Meeting in Ha Long, Vietnam.<\/p>

       The concept of AREP was initially proposed by Malaysian Re, Chair of the ARWC for the 2021-2022 term, during the 4th ARWC meeting on 15 October 2021. The proposal aimed to create a facility or pool to support ASEAN governments\u2019 renewable energy policies.<\/p>

       \u00a0<\/p>

       The MOU signifies a joint commitment from the participating ARWC Members under the supervision of AIC, to collaborate, and lead ASEAN (re)insurance industry to support ASEAN countries\u2019 effort to achieve net zero emission target and deal effectively with climate change.<\/p>

       \u00a0<\/p>

       AREP commenced operations on 1 July 2024 and is now available as a capacity market for renewable energy facultative reinsurance across the ASEAN region, offering a capacity of USD 40 million to support operational onshore solar and wind projects to address the evolving needs of the market. Presently there are 7 participating members for this collaboration which includes Malaysian Re (as Pool Manager), PT Reasuransi Indonesia Utama (Persero) (Indonesia Re), Vietnam National Reinsurance Corporation (VINARE), Cambodian Reinsurance Company (Cambodia Re), National Reinsurance Corporation of the Philippines (Nat Re), Hannover Re, Malaysia and Chubb Asia Pacific Pte. Ltd. who serves as the Lead Underwriter for this initiative, with Guy Carpenter acting as the broker. This collaboration marks a significant advancement in insurance coverage and support for renewable energy businesses and projects across ASEAN.<\/p>

       \u00a0<\/p>

       Chubb\u2019s extensive experience in the ASEAN region, combined with their valuable technical knowledge transfer within the underwriting committee of AREP, enhances the diversity of the Technical Underwriting Committee. Each ASEAN member contributes insights from their respective markets, enriching the platform with varied perspectives.<\/p>

       \u00a0<\/p>

       By integrating these perspectives, the platform ensures that the pooled expertise and insights drive informed and balanced underwriting decisions. This collective effort establishes robust and cohesive support specifically tailored for managing renewable energy risks across the ASEAN region. Through the exchange of best practices and underwriting expertise, the pool aims to enhance regional underwriting capabilities, enabling all members to benefit from shared learning and development opportunities.<\/p>","align":"justify","typography_typography":"custom","typography_font_family":"Poppins","typography_font_weight":"400","_padding":{"unit":"px","top":"100","right":"100","bottom":"100","left":"200","isLinked":false},"text_color":"#676767","typography_font_size":{"unit":"px","size":16,"sizes":[]}},"elements":[],"widgetType":"text-editor"}],"isInner":false}]]]> http://localhost/aseanweb/southeast-asian-insurers-call-for-new-model-after-deadly-storms/ Thu, 04 Dec 2025 15:00:11 +0000 https://aseaninsurancecouncil.org/?p=13670

       Rescuers in the Agam regency of Indonesia's West Sumatra province wade through mud and floodwaters past a house destroyed by recent cyclones. © Reuters

       DYLAN LOH

       December 3, 2025 15:31 JST

       SINGAPORE -- As Southeast Asian governments struggle to deliver aid to survivors of recent cyclones and other storms, regional insurers are calling for "new models" to strengthen regional resilience to climate-driven events, which the industry now regard as "structural risk drivers."

       Almost 1,000 people have been killed in Indonesia, Thailand, Vietnam and Malaysia in the last few weeks following prolonged storms that triggered floods and landslides. One think tank in Jakarta estimated the hit to just the Indonesian economy from the weather-related devastation will be more than $4 billion.

       The Singapore Reinsurers' Association, which supports insurers in managing risk, said industry players, governments and business associations need "to build new models" that are affordable to narrow protection gaps and strengthen regional resilience.

       "Following the recent storms and floods, we anticipate primary insurers to be receiving claims from both personal and commercial lines," Kenrick Law, SRA chair, told Nikkei Asia. "The full extent of losses will likely reveal a protection gap, with many affected parties unable to file claims simply because they lack coverage."

       The ASEAN Insurance Council, a regional platform for leaders in the sector, now acknowledges that climate-driven events are no longer episodic but "structural risk drivers," according to the General Insurance Association of Indonesia (AAUI), which is part of the regional platform.

       Indonesian state property insured through government and institutional budgets this year reached 61 trillion rupiah. With the launch of the new scheme through the disaster pooled fund, insurance coverage will increase by 30 trillion rupiah to 91 trillion rupiah.

       Thailand has asked insurers to hold insurance premiums steady to support people affected by the recent flooding, according to Chuchat Pramunphon, secretary-general of industry regulator the Office of Insurance Commission (OIC).

       

       Rescuers in the Agam regency of Indonesia's West Sumatra province wade through mud and floodwaters past a house destroyed by recent cyclones. © Reuters

       DYLAN LOH

       December 3, 2025 15:31 JST

       "Companies should be more flexible and cut some processes and paperwork to help people claim their compensation quicker," Chuchat told reporters recently. The OIC said that at least 500 claims were made for damage to houses and assets in the immediate aftermath of flooding in the kingdom.

       PVI Insurance, Vietnam's biggest non-life insurer by market share, said by the end of November it had received about 830 motor vehicle claims and nearly 500 other claims following storms and floods.

       "The number and scale of cases have both increased sharply, with the level of damage many times higher than normal," Pham Anh Duc, PVI's general director, told Nikkei. "PVI Insurance in particular and other insurance companies will conduct reviews and re-evaluations to potentially adjust the policies in areas with high risks of storms and floods."

       The extent of the claims has raised concerns across the region that future insurance payments will spike or insurers might tighten coverage to exclude various natural dangers.

       "Properties located in areas with frequent or recent flooding are facing higher insurance costs," Manogna Vangari, insurance analyst at analytics company GlobalData, told Nikkei. "In Thailand, underwriting standards are tightening in flood-prone regions; premiums are increasing, deductibles are becoming steeper, and in some cases, coverage is being limited or excluded."

       But chief executive officer at insurer AXA Philippines, Ayman Kandil, countered that "higher risk does not automatically mean premiums must go up".

       Preparation long before a storm makes landfall, through climate-resilient infrastructure and other measures, can reduce the human and financial impact of natural disasters, he added.

       "Insurance must go beyond paying claims," Kandil told Nikkei. "It's about reducing risks at their source so that protection remains accessible and sustainable for everyone."

       Additional reporting by Natsumi Kawasaki in Jakarta, Apornrath Phoonphongphiphat in Bangkok, Mai Nguyen and Nguyen Van Anh in Hanoi and Ramon Royandoyan in Manila.

       Source: https://asia.nikkei.com/business/insurance/southeast-asian-insurers-call-for-new-model-after-deadly-storms

       ]]> 13670 0 0 0 .wf-wrap { padding-left: 300px; } ]]> Rescuers in the Agam regency of Indonesia's West Sumatra province wade through mud and floodwaters\u00a0past a house destroyed by recent cyclones. \u00a9 Reuters<\/p>

       DYLAN LOH<\/strong><\/p>

       December 3, 2025 15:31 JST<\/p>","align":"justify","typography_typography":"custom","typography_font_family":"Poppins","typography_font_weight":"300","_padding":{"unit":"px","top":"0","right":"100","bottom":"0","left":"0","isLinked":false},"text_color":"#676767","typography_font_size":{"unit":"px","size":11,"sizes":[]}},"elements":[],"widgetType":"text-editor"},{"id":"9191db7","elType":"widget","settings":{"editor":"

       SINGAPORE -- As Southeast Asian governments struggle to deliver aid to survivors of recent cyclones and other storms, regional insurers are calling for \"new models\" to strengthen regional resilience to climate-driven events, which the industry now regard as \"structural risk drivers.\"<\/p>

       Almost 1,000 people have been killed in Indonesia, Thailand, Vietnam and Malaysia in the last few weeks following prolonged storms that triggered floods and landslides. One think tank in Jakarta estimated the hit to just the\u00a0Indonesian economy<\/a>\u00a0from the weather-related devastation will be more than $4 billion.<\/p>

       The Singapore Reinsurers' Association, which supports insurers in managing risk, said industry players, governments and business associations need \"to build new models\" that are affordable to narrow protection gaps and strengthen regional resilience.<\/p>

       \"Following the recent storms and floods, we anticipate primary insurers to be receiving claims from both personal and commercial lines,\" Kenrick Law, SRA chair, told Nikkei Asia. \"The full extent of losses will likely reveal a protection gap, with many affected parties unable to file claims simply because they lack coverage.\"<\/p>

       The ASEAN Insurance Council, a regional platform for leaders in the sector, now acknowledges that climate-driven events are no longer episodic but \"structural risk drivers,\" according to the General Insurance Association of Indonesia (AAUI), which is part of the regional platform.<\/p>

       Indonesian state property insured through government and institutional budgets this year reached 61 trillion rupiah. With the launch of the new scheme through the disaster pooled fund, insurance coverage will increase by 30 trillion rupiah to 91 trillion rupiah.<\/p>

       Thailand has asked insurers to hold insurance premiums steady to support people affected by the recent flooding, according to Chuchat Pramunphon, secretary-general of industry regulator the Office of Insurance Commission (OIC).<\/p>","align":"justify","typography_typography":"custom","typography_font_family":"Poppins","typography_font_weight":"400","_padding":{"unit":"px","top":"50","right":"100","bottom":"0","left":"0","isLinked":false},"text_color":"#676767","typography_font_size":{"unit":"px","size":14,"sizes":[]},"content_width":"full"},"elements":[],"widgetType":"text-editor"},{"id":"f5ab187","elType":"widget","settings":{"content_width":"full","image":{"url":"https:\/\/aseaninsurancecouncil.org\/wp-content\/uploads\/2025\/12\/Nikkei-2.webp","id":15530,"size":"","alt":"","source":"library"}},"elements":[],"widgetType":"image"},{"id":"bb5e218","elType":"widget","settings":{"editor":"

       Rescuers in the Agam regency of Indonesia's West Sumatra province wade through mud and floodwaters\u00a0past a house destroyed by recent cyclones. \u00a9 Reuters<\/p>

       DYLAN LOH<\/strong><\/p>

       December 3, 2025 15:31 JST<\/p>","align":"justify","typography_typography":"custom","typography_font_family":"Poppins","typography_font_weight":"300","_padding":{"unit":"px","top":"0","right":"100","bottom":"0","left":"0","isLinked":false},"text_color":"#676767","typography_font_size":{"unit":"px","size":11,"sizes":[]},"content_width":"full"},"elements":[],"widgetType":"text-editor"},{"id":"7d4226a","elType":"widget","settings":{"editor":"

       \"Companies should be more flexible and cut some processes and paperwork to help people claim their compensation quicker,\" Chuchat told reporters recently. The OIC said that at least 500 claims were made for damage to houses and assets in the immediate aftermath of flooding in the kingdom.<\/p>

       PVI Insurance, Vietnam's biggest non-life insurer by market share, said by the end of November it had received about 830 motor vehicle claims and nearly 500 other claims following storms and floods.<\/p>

       \"The number and scale of cases have both increased sharply, with the level of damage many times higher than normal,\" Pham Anh Duc, PVI's general director, told Nikkei. \"PVI Insurance in particular and other insurance companies will conduct reviews and re-evaluations to potentially adjust the policies in areas with high risks of storms and floods.\"<\/p>

       The extent of the claims has raised concerns across the region that future insurance payments will spike or insurers might tighten coverage to exclude various natural dangers.<\/p>

       \"Properties located in areas with frequent or recent flooding are facing higher insurance costs,\" Manogna Vangari, insurance analyst at analytics company GlobalData, told Nikkei. \"In Thailand, underwriting standards are tightening in flood-prone regions; premiums are increasing, deductibles are becoming steeper, and in some cases, coverage is being limited or excluded.\"<\/p>

       But chief executive officer at insurer AXA Philippines, Ayman Kandil, countered that \"higher risk does not automatically mean premiums must go up\".<\/p>

       Preparation long before a storm makes landfall, through climate-resilient infrastructure and other measures, can reduce the human and financial impact of natural disasters, he added.<\/p>

       \"Insurance must go beyond paying claims,\" Kandil told Nikkei. \"It's about reducing risks at their source so that protection remains accessible and sustainable for everyone.\"<\/p>

       Additional reporting by Natsumi Kawasaki in Jakarta, Apornrath Phoonphongphiphat in Bangkok, Mai Nguyen and Nguyen Van Anh<\/em>\u00a0in Hanoi and Ramon Royandoyan in Manila.<\/em><\/p>","align":"justify","typography_typography":"custom","typography_font_family":"Poppins","typography_font_weight":"400","_padding":{"unit":"px","top":"0","right":"100","bottom":"0","left":"0","isLinked":false},"text_color":"#676767","typography_font_size":{"unit":"px","size":14,"sizes":[]},"content_width":"full"},"elements":[],"widgetType":"text-editor"},{"id":"fe2cfc6","elType":"widget","settings":{"editor":"

       Source: https:\/\/asia.nikkei.com\/business\/insurance\/southeast-asian-insurers-call-for-new-model-after-deadly-storms<\/a><\/p>","align":"justify","typography_typography":"custom","typography_font_family":"Poppins","typography_font_weight":"300","_padding":{"unit":"px","top":"0","right":"100","bottom":"0","left":"0","isLinked":false},"text_color":"#676767","typography_font_size":{"unit":"px","size":11,"sizes":[]},"content_width":"full"},"elements":[],"widgetType":"text-editor"}],"isInner":false}]]]> http://localhost/aseanweb/mta-organizes-asean-spotlight-workshop-at-itc-asia-2025/ Wed, 25 Jun 2025 05:02:57 +0000 https://aseaninsurancecouncil.org/?p=13683

       

       

       The Malaysian Takaful Association (MTA), as the permanent Secretariat of the ASEAN Takaful/Retakaful Working Committee (ATRWC), organized the ASEAN Spotlight Workshop at the InsureTech Conference Asia 2025. The event was held at the Marina Bay Sands Convention Center in Singapore.

       The ITC Asia was held on 4 and 5 June 2025.

       The lineup of speakers for the workshop on the first day (4 June 2025) were:

       Panel 1

       1. Mr. Mohd Radzuan Mohamed, CEO of MTA
       2. Mr. Shahrildin Jaya - CEO and Managing Director of Takaful Brunei and Chairman of BITA
       3. Mr. Yurivanno Gani - CEO of Asuransi Takaful Keluarga and Vice Chairman for Sharia Life Insurance Development, AASI

       Panel 2

       1. Ms. Sainava Bee Bee - Head of Distribution at Etiqa Singapore
       2. Ms. Maricel Estavillo - Head of Takaful at Prudential Singapore
       3. Mr. Muhammad Tirmizi Muhamad Yew - Head of Operations at Malaysian Reinsurance Berhad

       The workshop provided an overview of the current state and future outlook of the Takaful industry across various countries. It is hoped that this workshop will highlight Malaysia's Takaful industry and, to some extent, reinforce the country's position as a regional hub for Takaful.

       On Day 2 (5 June 2025), MTA hosted a panel discussion focusing on the aspirations, collaborations, innovative solutions, and literacy advancement efforts within the Takaful industry in Malaysia, Indonesia, and Brunei—three ASEAN countries where Takaful is experiencing significant growth.

       The panelists were:  Mr. Mohd Radzuan Mohamed, Mr. Haji Shahrildin Jaya, and Mr. Yurivanno Gani.

       The session was moderated by Mr. Kumaran, CEO of the Insurance Collective, a Singapore-based solutions provider serving markets across the ASEAN region.

       ]]> 13683 0 0 0 .wf-wrap { padding-left: 300px; } ]]> The Malaysian Takaful Association (MTA), as the permanent Secretariat of the ASEAN Takaful\/Retakaful Working Committee (ATRWC), organized the ASEAN Spotlight Workshop at the InsureTech Conference Asia 2025. The event was held at the Marina Bay Sands Convention Center in Singapore.<\/p>

       The ITC Asia was held on 4 and 5 June 2025.<\/p>

       The lineup of speakers for the workshop on the first day (4 June 2025) were:<\/p>

       Panel 1<\/p>

       1. Mr. Mohd Radzuan Mohamed, CEO of MTA<\/li>
       2. Mr. Shahrildin Jaya - CEO and Managing Director of Takaful Brunei and Chairman of BITA<\/li>
       3. Mr. Yurivanno Gani - CEO of Asuransi Takaful Keluarga and Vice Chairman for Sharia Life Insurance Development, AASI<\/li><\/ol>

          Panel 2<\/p>

          1. Ms. Sainava Bee Bee - Head of Distribution at Etiqa Singapore<\/li>
          2. Ms. Maricel Estavillo - Head of Takaful at Prudential Singapore<\/li>
          3. Mr. Muhammad Tirmizi Muhamad Yew - Head of Operations at Malaysian Reinsurance Berhad<\/li><\/ol>

             The workshop provided an overview of the current state and future outlook of the Takaful industry across various countries. It is hoped that this workshop will highlight Malaysia's Takaful industry and, to some extent, reinforce the country's position as a regional hub for Takaful.<\/p>

             On Day 2 (5 June 2025), MTA hosted a panel discussion focusing on the aspirations, collaborations, innovative solutions, and literacy advancement efforts within the Takaful industry in Malaysia, Indonesia, and Brunei\u2014three ASEAN countries where Takaful is experiencing significant growth.<\/p>

             The panelists were:\u00a0 Mr. Mohd Radzuan Mohamed, Mr. Haji Shahrildin Jaya, and Mr. Yurivanno Gani.<\/p>

             The session was moderated by Mr. Kumaran, CEO of the Insurance Collective, a Singapore-based solutions provider serving markets across the ASEAN region.<\/p>","align":"justify","typography_typography":"custom","typography_font_family":"Poppins","typography_font_weight":"400","_padding":{"unit":"px","top":"100","right":"100","bottom":"100","left":"200","isLinked":false},"text_color":"#676767","typography_font_size":{"unit":"px","size":16,"sizes":[]}},"elements":[],"widgetType":"text-editor"}],"isInner":false}]]]> http://localhost/aseanweb/arwc-chair-speaks-on-asean-green-energy-insurance-pool-at-the-indonesia-sustainability-forum-2023/meeting-on-the-asean-green-energy-facility/ Thu, 30 Nov 2023 20:30:23 +0000 https://aseaninsurancecouncil.org/demo/wp-content/uploads/2023/09/Meeting-on-the-ASEAN-Green-Energy-Facility.png 7756 4295 0 0 http://localhost/aseanweb/arwc-chair-speaks-on-asean-green-energy-insurance-pool-at-the-indonesia-sustainability-forum-2023/the-indonesia-sustainability-forum-2023-2/ Thu, 30 Nov 2023 20:32:10 +0000 https://aseaninsurancecouncil.org/demo/wp-content/uploads/2023/09/the-Indonesia-Sustainability-Forum-2023-2-1.png 7757 4295 0 0 http://localhost/aseanweb/development-of-agricultural-insurance-in-the-asean-region/8june-1/ Thu, 30 Nov 2023 20:33:33 +0000 https://aseaninsurancecouncil.org/demo/wp-content/uploads/2023/07/8june-1-1.png 7759 3906 0 0 http://localhost/aseanweb/aic-secretary-general-live-on-cnbcs-money-talks-minimum-capital-requirement-of-insurance-companies-in-indonesia/money-talk-cnbc/ Thu, 30 Nov 2023 20:37:21 +0000 https://aseaninsurancecouncil.org/demo/wp-content/uploads/2023/06/Money-Talk-CNBC-2.png 7765 3672 0 0 http://localhost/aseanweb/insurance-industrys-contribution-to-empowering-asean-for-circular-economy/insurance-industry-contribution-to-empowering-asean-for-circular-economy/ Thu, 30 Nov 2023 20:42:18 +0000 https://aseaninsurancecouncil.org/demo/wp-content/uploads/2023/06/Insurance-Industry-Contribution-to-Empowering-ASEAN-for-Circular-Economy-2.png 7776 3376 0 0 http://localhost/aseanweb/quarantine-free-entry-into-almost-all-of-asean-with-travel-medical-insurance/compulsory-travel-medical-insurance-coverage/ Thu, 30 Nov 2023 20:42:56 +0000 https://aseaninsurancecouncil.org/demo/wp-content/uploads/2023/06/Compulsory-Travel-Medical-Insurance-Coverage-2.png 7778 3379 0 0 http://localhost/aseanweb/aic-secretary-general-live-on-cnbcs-money-talks-minimum-capital-requirement-of-insurance-companies-in-indonesia/money-talk-cnbc-1-1/ Thu, 30 Nov 2023 20:44:32 +0000 https://aseaninsurancecouncil.org/demo/wp-content/uploads/2023/06/Money-Talk-CNBC-1-1-1.png 7780 3672 0 0 http://localhost/aseanweb/asean-professional-insurance-diploma-apid/apid-sample/ Thu, 30 Nov 2023 20:47:32 +0000 https://aseaninsurancecouncil.org/demo/wp-content/uploads/2023/06/APID-sample-3.png 7786 3364 0 0 http://localhost/aseanweb/asean-professional-insurance-diploma-apid/flyer-square-1024x1024/ Thu, 30 Nov 2023 20:48:21 +0000 https://aseaninsurancecouncil.org/demo/wp-content/uploads/2023/06/Flyer-Square-1024x1024-1.png 7788 3364 0 0 http://localhost/aseanweb/survey-conducted-on-child-traffic-safety-regulations-in-the-asean/asean-cob-towards-road-traffic-safety-for-children/ Thu, 30 Nov 2023 20:57:24 +0000 https://aseaninsurancecouncil.org/demo/wp-content/uploads/2023/06/ASEAN-COB-towards-Road-Traffic-safety-for-Children-2.png 7804 3367 0 0 http://localhost/aseanweb/survey-conducted-on-child-traffic-safety-regulations-in-the-asean/whatsapp-image-2022-09-16-at-15-06-45/ Thu, 30 Nov 2023 21:03:46 +0000 https://aseaninsurancecouncil.org/demo/wp-content/uploads/2023/06/WhatsApp-Image-2022-09-16-at-15.06.45-1.jpeg 7817 3367 0 0 http://localhost/aseanweb/survey-conducted-on-child-traffic-safety-regulations-in-the-asean/whatsapp-image-2022-09-16-at-15-07-23/ Thu, 30 Nov 2023 21:04:02 +0000 https://aseaninsurancecouncil.org/demo/wp-content/uploads/2023/06/WhatsApp-Image-2022-09-16-at-15.07.23-1.jpeg 7818 3367 0 0 http://localhost/aseanweb/survey-conducted-on-child-traffic-safety-regulations-in-the-asean/whatsapp-image-2022-09-16-at-15-08-25/ Thu, 30 Nov 2023 21:04:14 +0000 https://aseaninsurancecouncil.org/demo/wp-content/uploads/2023/06/WhatsApp-Image-2022-09-16-at-15.08.25-1.jpeg 7819 3367 0 0 http://localhost/aseanweb/survey-conducted-on-child-traffic-safety-regulations-in-the-asean/whatsapp-image-2022-09-16-at-15-09-16/ Thu, 30 Nov 2023 21:04:24 +0000 https://aseaninsurancecouncil.org/demo/wp-content/uploads/2023/06/WhatsApp-Image-2022-09-16-at-15.09.16-1.jpeg 7820 3367 0 0 http://localhost/aseanweb/thailand-hosts-the-asean-agricultural-insurance-workshop-and-field-trip/thailand-hosts-the-asean-agricultural-insurance-workshop-and-field-trip-2/ Thu, 30 Nov 2023 21:06:58 +0000 https://aseaninsurancecouncil.org/demo/wp-content/uploads/2023/06/Thailand-Hosts-the-ASEAN-Agricultural-Insurance-Workshop-and-Field-Trip-2.png 7825 3361 0 0 http://localhost/aseanweb/asean-insurance-congress/asean-insurance-congress-2022/ Sun, 03 Dec 2023 15:13:20 +0000 https://aseaninsurancecouncil.org/demo/wp-content/uploads/2023/06/Asean-Insurance-Congress-2022-3.png 7867 3373 0 0 http://localhost/aseanweb/50th-year-of-asean-japan-friendship-and-cooperation/dsc02286/ Mon, 29 Jan 2024 04:01:50 +0000 https://aseaninsurancecouncil.org/wp-content/uploads/2024/01/DSC02286.jpg 9030 9029 0 0 http://localhost/aseanweb/50th-year-of-asean-japan-friendship-and-cooperation/dsc02268/ Mon, 29 Jan 2024 04:02:04 +0000 https://aseaninsurancecouncil.org/wp-content/uploads/2024/01/DSC02268.jpg 9031 9029 0 0 http://localhost/aseanweb/50th-year-of-asean-japan-friendship-and-cooperation/dsc02273/ Mon, 29 Jan 2024 04:02:18 +0000 https://aseaninsurancecouncil.org/wp-content/uploads/2024/01/DSC02273.jpg 9032 9029 0 0 http://localhost/aseanweb/50th-year-of-asean-japan-friendship-and-cooperation/celebrating-the-50th-anniversary-of-asean-and-japan-friendship/ Mon, 29 Jan 2024 04:05:35 +0000 https://aseaninsurancecouncil.org/wp-content/uploads/2024/01/Celebrating-the-50th-Anniversary-of-ASEAN-and-Japan-Friendship.png 9038 9029 0 0 http://localhost/aseanweb/8june-1-2/ Thu, 30 Nov 2023 20:34:16 +0000 https://aseaninsurancecouncil.org/demo/wp-content/uploads/2023/11/8june-1.png 7760 0 0 0 http://localhost/aseanweb/money-talk-cnbc-2/ Thu, 30 Nov 2023 20:39:39 +0000 https://aseaninsurancecouncil.org/demo/wp-content/uploads/2023/11/Money-Talk-CNBC.png 7771 0 0 0 http://localhost/aseanweb/travel-medical-insurance-only-encouraged-by-asean-member-states-2/ Sun, 03 Dec 2023 15:04:36 +0000 https://aseaninsurancecouncil.org/demo/wp-content/uploads/2023/12/Travel-Medical-Insurance-only-Encouraged-by-ASEAN-Member-States-2.png 7853 0 0 0 http://localhost/aseanweb/41584c9e-cae2-4c61-a5f1-9df39a2e840f/ Sun, 03 Dec 2023 15:09:54 +0000 https://aseaninsurancecouncil.org/demo/wp-content/uploads/2023/12/41584c9e-cae2-4c61-a5f1-9df39a2e840f.jpg 7861 0 0 0 http://localhost/aseanweb/asean-reinsurance-working-group-meeting/ Wed, 31 Jul 2024 06:34:57 +0000 https://aseaninsurancecouncil.org/wp-content/uploads/2024/07/ASEAN-Reinsurance-Working-Group-Meeting.png 11007 0 0 0 http://localhost/aseanweb/congratulations-to-arwc-members-on-the-operationalisation-of-asean-renewable-energy-pool-arep-2/asean-reinsurance-working-group-meeting2/ Fri, 02 Aug 2024 05:58:37 +0000 https://aseaninsurancecouncil.org/wp-content/uploads/2024/08/ASEAN-Reinsurance-Working-Group-Meeting2.png 11164 11058 0 0 http://localhost/aseanweb/congratulations-to-arwc-members-on-the-operationalisation-of-asean-renewable-energy-pool-arep-2/asean-reinsurance-working-group-meeting3/ Fri, 02 Aug 2024 06:08:35 +0000 https://aseaninsurancecouncil.org/wp-content/uploads/2024/08/ASEAN-Reinsurance-Working-Group-Meeting3.png 11165 11058 0 0 http://localhost/aseanweb/congratulations-to-arwc-members-on-the-operationalisation-of-asean-renewable-energy-pool-arep-2/asean-reinsurance-working-group-meeting-4/ Fri, 02 Aug 2024 07:56:04 +0000 https://aseaninsurancecouncil.org/wp-content/uploads/2024/08/ASEAN-Reinsurance-Working-Group-Meeting-4.png 11198 11058 0 0 http://localhost/aseanweb/congratulations-to-arwc-members-on-the-operationalisation-of-asean-renewable-energy-pool-arep-2/asean-reinsurance-working-group-meeting-5/ Fri, 02 Aug 2024 07:58:08 +0000 https://aseaninsurancecouncil.org/wp-content/uploads/2024/08/ASEAN-Reinsurance-Working-Group-Meeting-5.png 11199 11058 0 0 http://localhost/aseanweb/number-of-companies-in-the-asean-insurance-industry/number-of-companies-in-the-asean-insurance-industry-2-2/ Fri, 02 Aug 2024 08:01:36 +0000 https://aseaninsurancecouncil.org/wp-content/uploads/2024/06/Number-of-Companies-in-the-ASEAN-Insurance-Industry-2.png 11200 10629 0 0 http://localhost/aseanweb/number-of-companies-in-the-asean-insurance-industry/number-of-companies-in-the-asean-insurance-industry-3/ Fri, 02 Aug 2024 08:07:32 +0000 https://aseaninsurancecouncil.org/wp-content/uploads/2024/06/Number-of-Companies-in-the-ASEAN-Insurance-Industry-3.png 11205 10629 0 0 http://localhost/aseanweb/11th-asean-council-of-bureaux-working-group-meeting-cob-wg-hoi-an-vietnam/11th-cobwg/ Thu, 29 Aug 2024 07:37:57 +0000 https://aseaninsurancecouncil.org/wp-content/uploads/2024/08/11th-COBWG.png 11693 11692 0 0 http://localhost/aseanweb/mou-signing-ceremony-on-asean-renewable-energy-pool/mou-signing-arep/ Fri, 11 Oct 2024 06:39:17 +0000 https://aseaninsurancecouncil.org/wp-content/uploads/2024/10/MoU-Signing-AREP.png 11906 11905 0 0 http://localhost/aseanweb/number-of-companies-in-the-asean-insurance-industry/number-of-companies-in-the-asean-insurance-industry_updaprill/ Mon, 28 Apr 2025 08:49:19 +0000 https://aseaninsurancecouncil.org/wp-content/uploads/2024/06/Number-of-Companies-in-the-ASEAN-Insurance-Industry_updAprill.png 13218 10629 0 0 http://localhost/aseanweb/mta-organizes-asean-spotlight-workshop-at-itc-asia-2025/mta-organizes-asean-spotlight-workshop-at-itc-asia-2025/ Wed, 25 Jun 2025 10:20:18 +0000 https://aseaninsurancecouncil.org/wp-content/uploads/2025/06/MTA-Organizes-ASEAN-Spotlight-Workshop-at-ITC-Asia-2025.png 13718 13683 0 0 http://localhost/aseanweb/?attachment_id=15525 Fri, 05 Dec 2025 09:53:31 +0000 https://aseaninsurancecouncil.org/wp-content/uploads/2025/12/Nikkei-Asia-Southeast-Asian-insurers-call-for-new-model-after-deadly-storms.webp 15525 15524 0 0 http://localhost/aseanweb/southeast-asian-insurers-call-for-new-model-after-deadly-storms/nikkei-2/ Fri, 05 Dec 2025 10:16:52 +0000 https://aseaninsurancecouncil.org/wp-content/uploads/2025/12/Nikkei-2.webp 15530 13670 0 0 http://localhost/aseanweb/southeast-asian-insurers-call-for-new-model-after-deadly-storms/nikkei-1/ Fri, 05 Dec 2025 10:16:56 +0000 https://aseaninsurancecouncil.org/wp-content/uploads/2025/12/Nikkei-1.webp 15531 13670 0 0