Asian Reinsurers’ Summit reaffirms need to foster closer collaboration among Asian reinsurers

September 28 2023 by

The recently concluded 20th Asian Reinsurers’ Summit (ARS), hosted by Malaysian Reinsurance (Malaysian Re) in Kuala Lumpur, reaffirmed the need for national reinsurers in Asia to foster closer collaboration in shaping the future of reinsurance in Asia.

The three-day event, held from from September 25-27, 2023, was attended by 21 delegates comprising key leaders and senior executives from 11 national reinsurers in Asia, Malaysian Re said in a press release.

Lau Chin Ching, director, financial development and innovation, Bank Negara Malaysia, delivered the keynote address for the summit.

At the summit, ARS members have decided to set a task force led by Malaysian Re comprising member companies to lead forums of mutual interest, the reinsurer said.

ARS 2023 delved into discussions and dialogues on the latest challenges surrounding the (re)insurance industry, including the adoption of the new accounting standard for insurance, IFRS 17, as well as the development and impacts of ESG on the industry.

Malaysian Re, on behalf of all ARS members, presented the key findings of respective countries’ insurance market developments and shared insights on emerging risks, protection gap and digital convergence.

ARS is an annual gathering founded in 2001, which aims to drive the development of the Asian reinsurance market through the promotion of multilateral communication among Asian national reinsurers.

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