Using the Orsa in Asian enterprise risk management

Asia-Pacific business units of multinational insurers are under pressure to demonstrate sound risk management capabilities to ensure that growing balance sheets are adequately protected. Regulators are also increasing their focus on enterprise risk management. Fred Ngan says insurers should use the Own Risk and Solvency Assessment as the lens through which to view the ERM evolution

Multinational insurers today cannot impress shareholders without a sound Asia-Pacific strategy. As a result insurers are continuing to expand their geographic footprint and look for ways to achieve the optimal position in the Asian market.

But while senior executives celebrate the surge in profits from the emerging markets, additional pressure has been placed on local business units to demonstrate sound risk-management capability and to accelerate their enterprise risk management (ERM) evolution