Quang Ninh hosts ASEAN insurance meetings

The 26th ASEAN Insurance Regulators’ Meeting (AIRM26) and the 49th ASEAN Insurance Council Meeting (AIC49) opened in Ha Long city, the Northern province of Quang Ninh, on December 7.

Quang Ninh to host 26th ASEAN insurance regulators’ meeting

ASEAN insurance regulators’ meeting wraps up

At the opening ceremony of the meetings

The meetings brought together about 200 delegates representing the ASEAN Secretariat, insurance management agencies, and insurance associations of ASEAN member countries.

In his remarks, Deputy Minister of Finance Cao Anh Tuan stressed that insurance remains an important part of financial cooperation in the grouping, as well as the crucial role of insurance businesses in economic growth.

He cited statistics by the Swiss Re Institute as showing that global insurance premiums, both non‑life and life, are estimated to grow by 1.1% in 2023 and by 1.7% in 2024. ASEAN continues to affirm its dynamism in this regard.

For Vietnam, the official said, the domestic insurance market has made noteworthy strides, yet they remain limited as compared with others in the region.

At AIRM26, delegates will look into the ASEAN Disaster Risk Financing and Insurance Program (ADRFI), the operation of the ASEAN Taxonomy for Sustainable Finance (ATB) within the sustainable finance agenda in the region, and the implementation of the Framework for Circular Economy for the ASEAN Economic Community (AEC).

At AIC49, they will review the outcomes of the ASEAN Insurance Education Committee (AIEC) Working Group Meeting, the ASEAN Council of Bureaux Working Group Meeting, and the ASEAN Natural Disaster Research Group (ANDREWS) meeting.

They will also work on the selection of the Young ASEAN Insurance Managers Award (YAMA).

Source: VNA