Impact of climate change on re/insurance debated at 16th SIRC
The words of climate activist Greta Thunberg were quoted at the start of the 16th Singapore International Reinsurance Conference (SIRC) yesterday by Sivam Subramaniam, chair of the 16th SIRC organising committee.
Referring to the theme of the conference 'Winds of Change’ he said in his welcome address: “The future is for us to anticipate. We need to be ready for it, no matter how severe the disruption may be.
“Our theme, ‘Winds of Change’, is made more pressing with the environmental changes we face. As we go one step further to look at the sustainability of the environment and the reinsurance model, insurers are forced to reinvent themselves and they are looking to reinsurers for new solutions.
“This is your chance to see if you can manage the complex risks that are emerging and the change that is coming at a relentless pace. As Greta Thunberg has said, change is coming, whether you like it or not.”
He added that this year’s SIRC is the most-attended event yet, with 1,130 delegates present as of Tuesday afternoon, including 100 delegates from the UK and first-time delegates from countries including Cyprus, Jordan, Lebanon and Oman.
“There is a great bustle; SIRC has grown from strength to strength,” said Subramaniam.
This year’s SIRC will welcome Indranee Rajah, Minister in the Singapore Prime Minister’s Office and Second Minister for Finance and Education, as guest of honour.
She will deliver today’s keynote address. Other speakers will include Lloyd’s of London CEO John Neal; Allianz Re CEO Amer Ahmed; Swiss Re group chief economist Jerome Jean Haegeli; Willis Towers Watson CEO of Capital Science and Policy, Rowan Douglas; and Guy Carpenter CEO, International, James Nash.
The speakers will address pressing industry issues revolving around the theme ‘Winds of Change’, with the topic of climate change very much on the agenda.
“SIRC is not just a networking forum to prepare for renewals; it’s also an important knowledge platform,” said Subramaniam.
“We have a very exciting line-up of industry and international keynotes with several leading players from within and outside the industry to give us much food for thought.
“The rest is up to you to make the best of this 16th SIRC,” he concluded.
