Asian Reinsurance Corp. (Asian Re), an intergovernmental reinsurer backed by the UN Conference on Trade Development, has appointed Dennis Funa, chief of the Philippines’ Insurance Commission, as vice-chairman of its management board.
Funa was elected during the organisation’s 40th meeting of the council of members and 11th meeting of the shareholders assembly held in its headquarters in Bangkok, Thailand on June 30.
Asian Re accepts business from its member countries, as well as other markets in the region. Aside from reinsurance, it also provides a regional venue for gathering information regarding re/insurance and using it to improve the expertise of its members.
Initially, membership in Asian Re was limited to state members of the UNESCAP (United Nations Economic and Social Commission for Asia and the Pacific). But in 2005, the reinsurer’s membership was opened to non-member states, private organisations and corporations, non-government organisations, and multilateral institutions.
Presently, there are ten UNESCAP member-states that are regular members of Asian Re. These are: Afghanistan, Bangladesh, Bhutan, China, India, Iran, the Philippines, South Korea, Sri Lanka, and Thailand.
Related stories:
Asset-liability mismatch major concern among APAC insurers
Lagging market must catch up on cyber insurance, says regulator
Regulator increases investment allocations for preneed insurers
