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TAPPING THE OPPORTUNITIES OF HAVING A FLAG REINSURANCE COMPANY
TOWARDS ASEAN ECONOMIC COMMUNITY

TAPPING THE OPPORTUNITIES OF HAVING A FLAG REINSURANCE COMPANY
TOWARDS ASEAN ECONOMIC COMMUNITY. Bali, Indonesia October 2014. Contents: Opportunities for Flag RI in Asean Economic Community. Flag RI v global/regional RI? Defined by Purpose and Role Flag RI and ASEAN Integration

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TAPPING THE OPPORTUNITIES OF HAVING A FLAG REINSURANCE COMPANY
TOWARDS ASEAN ECONOMIC COMMUNITY

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  1. TAPPING THE OPPORTUNITIES OF HAVING A FLAG REINSURANCE COMPANY
TOWARDS ASEAN ECONOMIC COMMUNITY Bali, Indonesia October 2014

  2. Contents: Opportunities for Flag RI in Asean Economic Community Flag RI v global/regional RI? Defined by Purpose and Role Flag RI and ASEAN Integration Opportunities: roles for Flag RIs

  3. “WHEREAS, it is the policy of the nation to promote and develop a strong national insurance industry and to provide for its integration in the country's economic and social development;” Source: Presidential Decree 1270, Republic of the Philippines For Emerging Markets, the Flag Reinsurer’s reason for being: to protect local policyholders. One risk in Emerging Markets: flight of foreign capital during times of crisis at Corp HQ. What would happen to Hungarian policyholders if all foreign reinsurers leave? To Mexican depositors if all foreign banks leave? Even temporarily? THESIS To protect policyholders from flighty capital it is prudent for a flag reinsurer to develop and use knowhow and capital to support locally owned insurance firms to be sustainable going concerns so that they are not dependent on protectionist legislation to thrive and serve the public.

  4. GAME: NAME THIS ATHLETE

  5. GAME: NAME THIS ATHLETE

  6. GAME: NAME THIS ATHLETE

  7. GAME: NAME THIS ATHLETE

  8. What do a centre midfielder, a quarterback and a point guard have in common?

  9. Contents: Opportunities for Flag RI in Asean Economic Community Flag RI v global/regional RI? – Playmaker to protect local policyholders Flag RI and ASEAN Integration Opportunities: roles for Flag RIs

  10. How does a flag reinsurer help local companies who now have 620M local customers? Source: Key Indicators 2014, ADB

  11. AEC Strengthens ASEAN without isolationism ASEAN operates in an increasingly globalised environment, with interdependent markets and globalized industries. ASEAN must therefore look beyond the borders of AEC and consider regulations outside the region in forming policies related to AEC, including the adoption of international best practices and standards in production and distribution. This will be critical in enabling businesses in the region to compete successfully in global markets, achieve production objectives to become key global suppliers and ensure the ASEAN market remains attractive to foreign investors.

  12. Flag RI Supports Competitiveness: Global Competitiveness Index 2014-15 Rankings Source: http://www.weforum.org/reports/global-competitiveness-report-2014-2015

  13. Top Economies by 2050 Source: HSBC’s The Wider World in 2050

  14. Contents: Opportunities for Flag RI in Asean Economic Community • Flag RI v global/regional RI? - Purpose • Flag RI and ASEAN Integration • Opportunities: roles for Flag RIs • Facilitator for industry initiatives • Best Practices Consultant to local risk carriers • Expert on Country-Specific risk

  15. 3a: Facilitator for industry initiatives

  16. 3b: Best Practices Consultant to local risk carriers

  17. 3c: Expert on Country-Specific risk

  18. THANKS FROM NRCP Bali, Indonesia October 2014

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