National reinsurer Malaysian Reinsurance Bhd (Malaysian Re) has launched the ASEAN Insurance Pulse, an executive survey-based research publication for the Southeast Asian region, in cooperation with Switzerland-based research agency Dr Schanz, Alms & Co.
The publication was launched at the Malaysian Insurance Summit 2017 last week by Tan Sri Muhammad Ibrahim, and witnessed by several major figures in the Malaysian insurance industry.
ASEAN Insurance Pulse’s 2017 edition is based on in-depth interviews with 35 senior executives from various regional and international insurers, intermediaries and trade organisations operating across the ASEAN region. It provides an authoritative overview of the current state and future prospects of the region’s US$23 billion general insurance industry. Furthermore, it polled the executives’ takes on the Asian Economic Community (AEC) project and how it would affect the region’s insurance markets.
Launched on December 31, 2015, the AEC aims to create a single regional market by 2025, which will facilitate the free movement of goods and services, including insurance, across the 10 members of the ASEAN.
In its press statement, Malaysian Re said that it hopes the new insurance publication will be an “eye-opener” to the industry regarding market research and the role it fills in business opportunities from a risk-adjusted perspective.
“AEC is a huge regional growth project, not least for the ASEAN insurance industry,” said Encik Zainudin Ishak, president and CEO of Malaysian Re. “In order to capture its full potential, AEC depends on active participation from the corporate sector together with the relevant regulatory bodies. Towards this aim, the ASEAN Insurance Pulse 2017 will serve as a reliable guide to understanding what insurers, reinsurers, and intermediaries expect of the integration and to identify impediments facing the ASEAN insurance marketplace.”
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