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A report by U.K.-based reinsurance broker Aon Benfield Group Ltd. found that the spread of risk-based capital laws, and stronger regulations covering risk management and corporate governance are key trends driving insurance growth in the Asia-Pacific region, Asia Insurance Review reported. Meanwhile, insurance regulators in Singapore and Thailand are considering adding catastrophe risk into solvency capital calculations as part of their risk-based capital initiatives. In the Philippines, catastrophe risk charge is included in solvency requirements, while Hong Kong plans to include the charge.
1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
3. Zurich Insurance to stop underwriting new oil and gas projects
4. Bermudan, European reinsurers to suffer major hit from bridge collapse
5. Tycoon gets death sentence for multi-billion-dollar fraud
6. Inflation drives 10% increase in sum insured for windstorms