According to a recent report from Marsh and Oxford Economics, the global construction industry is forecast to grow 42% to $15 trillion by 2030. Meanwhile, the construction markets in ASEAN is expected to grow at 7.5% next year, with market observers projecting that the construction industry in Asia Pacific could reach $313 billion by 2024.
The marine cargo insurance industry is bracing to meet expected upswing in multidimensional risks across product lines. Amongst the emerging risks that are becoming increasingly prominent are cyber theft and climate change. Understanding these risks will help marine, cargo and logistics companies navigate the complex and evolving world of risk.
After years of travel restrictions, the Labuan International Insurance Association, LIIA has successfully organized the Labuan Financial Services Authority (Labuan FSA) – The LIIA Member Meeting & the 25th Annual General Meeting (Hybrid) whereby almost all members have physically attended the meetings.
On 20th June 2022, Mandarin Re Ltd co-located in Kuala Lumpur, Malaysia has received a business visit by Mr. Vivek K. Naik, Principal Officer/Director of Synergy Reinsurance Specialist (Labuan) Limited. The meeting was attended by Mr. Redzal Mohamad, CEO, and underwriters Ms. Rita John and Ms. Asmida Md. Nor.
No doubt, Covid-19 caused the year 2020 and 2021 to be a turning point in general for many of life aspects, trends, interacting, activities, and in particular for business and economic sectors in terms of the strategy of implementing their activities. In spite of the difficult situation around the world physical meetings with partners and business travel continue to be considered a thing of much-needed to develop and maintaining the business. Therefore, the Management of Mandarin Re had a long business trip visiting 3 conference in different locations around the world.
Latin America has always had a dynamic insurance market, and it continues to do so with major influence by brokers on the scope and enforcement of insurance products. Despite of the worldwide COVID pandemic LATAM and South Africa zones’ potential remains high, with its economic buoyancy raising hope for regular premium growth.
