EY – APAC insurance CRO survey 2017–2018
February 22 2018
This Asia-Pacific (APAC) Insurance Chief Risk Officer (CRO) survey has been undertaken with the aim of gaining insights into the role that CROs and risk functions play among insurers, and the key priorities of CROs in the short and medium term.
This survey has been designed to qualitatively understand the changing dynamics in the outlook of the risk function and the manner in which the CRO role is evolving. To that extent, we assessed CROs’ ability to contribute indirectly to value creation, identified the key challenges they face and their priorities as a result of changing regulatory requirements and unstable economic environment, and collected their views on the evolving role of technology in the industry and how they manage the risks associated with it.
Our findings this year call for the continued empowerment of individual accountabilities in particular across the three lines of defence to manage risk. This includes enhancing the risk appetite framework and developing and implementing risk culture and conduct frameworks. The need for this is critical for insurers to be successful in transforming their business in response to numerous internal and external pressures. Our results explore this further in the areas of emerging risks including cyber, the overabundance of regulatory change and the digital agenda already on our door step.
-
AIG’s McMurdo to join Steadfast MGA as CUO personal lines
- August 20
The move comes as the broking group's MGA division acquires AIG's HNW home and contents portfolio.
-
QBE’s Hammond on transformation and growth
- July 2
The Asia chief executive discusses Covid-19, going digital and restructuring.
-
Swiss Re: Nat cats and man-made disasters in 2018
- April 10
Climate change, increased urbanisation and a growing concentration of assets were on the risk agenda for 2018.
-
Willis Towers Watson: 2019 Asia Market Report
- March 19
Economic uncertainty, more complex risks and tighter underwriting are all influencing Asia's markets.
-
BHSI | Managing non-Asian exposure in long-tail lines
While US-exposed business can look attractive to Asian carriers, managing the volatility around the long-term results and the ability to model those losses are crucial, say BHSI’s Marc Breuil and Marcus Portbury.
-
Sedgwick | To Handle CAT Claims Well, Multi-Step Preparation is Key
When it comes to risk, it’s not a matter of “if” it’s a matter of “when” an event will occur.
-
HSBC Asset Management | Is it time to relook at Asian currency bonds?
With diversification and performance high on investors’ agendas, it seems a good time for global portfolios to revive allocations in Asian local currency bonds – including Hong Kong dollar (HKD) bonds.
-
PineBridge Investments | Why Asian insurers are exploring private credit and CLOs
The recent rollout of risk-based capital regimes across Asia calls for a closer alignment between insurers’ assets and liabilities. We explore potential ways to maintain a healthy investment yield and robust returns on regulatory capital.
