How are Asian Regulators Preparing Themselves for a Changing Landscape?
How are Asian Regulators Preparing Themselves for a Changing Landscape? By Chua Hui Shan and Lee Wai Yi
Globally, insurers are operating in a more challenging landscape. The outlook in the macro -economic environment remains uncertain, with increased volatility in financial markets. Underwriting results are being pressured by a combination of sluggish economic growth, softening insurance rates and rising claims. Since the global financial crisis, regulations have been, or are being, reformed at a faster pace. In addition, insurers have to remain vigilant on emerging risks such as cyberattacks and catastrophes. Insurers in Asia are similarly not spared from the increasing complexity and volatility in the operating environment. We will look at three specific challenges that Asia is facing, and how Asian regulators can prepare themselves for a changing landscape.
