1 / 14

INTRODUCTION TO ASEAN ECONOMIC COMMUNITY (AEC) 2015 BLUEPRINT

TAPPING THE OPPORTUNITIES OF HAVING A FLAG REINSURANCE COMPANY TOWARDS ASEAN ECONOMIC COMMUNITY 2015. INTRODUCTION TO ASEAN ECONOMIC COMMUNITY (AEC) 2015 BLUEPRINT. AEC 2015 BLUEPRINT. Was declared by the ASEAN Leaders in November 2007 in Singapore.

tarik-baldwin
Download Presentation

INTRODUCTION TO ASEAN ECONOMIC COMMUNITY (AEC) 2015 BLUEPRINT

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. TAPPING THE OPPORTUNITIES OF HAVING A FLAG REINSURANCE COMPANY TOWARDS ASEAN ECONOMIC COMMUNITY 2015

  2. INTRODUCTION TO ASEAN ECONOMIC COMMUNITY (AEC) 2015 BLUEPRINT

  3. AEC 2015 BLUEPRINT • Was declared by the ASEAN Leaders in November 2007 in Singapore. • Outlines the necessary measures and actions to establish ASEAN as an economic community with four characteristics: • a single market and production base, • a highly competitive economic region, • a region of equitable equitable economic development, • a region fully integrated into the global economy. • Utilizes a four-phase approach (2008-09, 2010-11, 2012-13, and 2014-15) with specific measures/activities to be fulfilled at each phase. • Is made up of strategic schedule which includes key milestones for a comprehensive and deeper economic integration by 2015. Source: ASEAN Secretariat

  4. . Source: ASEAN Secretariat

  5. FINANCIAL SERVICES IN AEC 2015 BLUEPRINT . Source: ASEAN Secretariat

  6. ANNEX 1: FINANCIAL SERVICES SUB-SECTORS IDENTIFIED FOR LIBERALISATION BY 2015 Source: ASEAN Secretariat

  7. OPPORTUNITIES AND CHALLENGES IN AEC 2015 Source: ASEAN Secretariat

  8. ECONOMIC & INSURANCE OUTLOOK Regional Economic Performance • Growth expand by 4.6% in 2014 • Expect to reach 5.3% in 2015 • Insurance penetration is 3.4% of GDP (compared to 7.8% in EU) • Public policies support development of innovative products and micro insurance Regional Insurance Outlook Source: ASEAN Secretariat

  9. INDONESIA’S INSURANCE OUTLOOK General Insurance Penetration Rate .

  10. BIG REINSURERS IN THE WORLD Assets: 327,820 Premium: 65,941 Munich Re Swiss Re Hannover Re Assets: 215,785 Premium: 31,723 Assets: 69,548 Premium: 17,471 Partner Re SCOR Assets: 22,980 Premium: 4,718 Assets: 41,352 Premium: N/A Lyodd’s of London Berkshire Hathaway Inc. Assets: 427,452 Premium:34,545 Assets: 124,904 Premium:40,786 Source: Fitch Rating 2014 based on 2012’s performance (in USD Million)

  11. REINSURERS IN ASEAN Thai Reinsurance Public ACR Malaysia Assets: 865,382 Premium: 170,967 Assets: 346,999 Premium: 102,701 Thaire Life Assurance Assets: 55,603 Premium:42,314 Malaysian Reinsurance Bhd Assets: 910,993 Premium: 409,881 The National Reinsurance Corp. of the Philippines Assets: 325,932,582 Premium:57,168,184 (Based on Y2013 in USD Thousand) Source: - www.asiacapital.com.my - www.thairelife.co.th - - www.malaysian-re.com.my - www.thaire.co.th - www.nrcp.com.pk

  12. REINSURERS IN INDONESIA Gigantic Reinsurer In Indonesia Potential Revenue In 2013 ASEI NasRe RUI Shareholders: Taspen, Jamkrindo, Jasa Raharja Rp 8 Trillion or USD 655.737.700,- Conversion Rate of 1 USD = Rp12.200,-

  13. an AIC – ANDREWS (ASEAN Natural Disaster Research Works Sharing) initiative, fully supported by Catalytics. CARMA is a web portal contains collection of articles on Catastrophe and Risk Management in ASEAN, where you will be able to upload research, search and review articles.

  14. THANK YOU

More Related