Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • The Actuary Issues
  • April 2012
04

Asia-Pacific insurers 'have work to do on ERM'

Open-access content Wednesday 18th April 2012

The majority of insurance companies in Asia-Pacific are still formalising their enterprise risk management governance structures, according to Standard & Poor’s.

2

In a report published this week, the ratings agency said that most insurers in the region manage their risks through an approach that is more traditional than strategic.

Companies separate risks into groups that include insurance, investment and operations, rather than manage them in an integrated way, it explained.

But, the report also highlighted strong progress over the past decade, particularly in Australia, Japan, Taiwan and Singapore.

Connie Wong, a credit analyst at Standard & Poor's, said: 'ERM has played an increasingly important role in Asia-Pacific, due to the growing complexity of managing risks and the efforts of regional regulators to improve the methods for measuring risk.

'Also, revenue growth and product development in this region have been more robust, thanks to an economy that has performed well despite turmoil elsewhere,' she added.

Standard & Poor's said, despite big variations in insurers' ERM frameworks across the region, it had assigned 77% of the 96 insurers or groups it rated 'adequate' ERM scores.

However, no companies were scored 'excellent' and only 9% were 'strong'. A further 2% were 'adequate with positive trend', 8% were 'adequate with strong risk controls' and 3% were 'weak'.

This article appeared in our April 2012 issue of The Actuary.
Click here to view this issue
Filed in:
04
Topics:
General Insurance

You might also like...

Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Covenant Consultant

Leeds
£60-80k plus bonus and benefits
Reference
120863

Big 4 Consultancy – Senior Consultant / Manager, Life Actuarial

London / Bristol / Edinburgh
Competitive salary plus bonus
Reference
120771

Capital Optimisation & Balance Sheet Management – Insurance Consolidator

London, Dublin
Competitive salary package + study support if required
Reference
120860
See all jobs »
 
 

Today's top reads

 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2021 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited, Level 5, 78 Chamber Street, London, E1 8BL. Tel: 020 7880 6200