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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 hosts ASEAN insurance meetings ảnh 1At the opening ceremony of the meetings. (Photo: VNA)
Hanoi (VNA) – The 26th ASEANInsurance Regulators’ Meeting (AIRM26) and the 49th ASEAN InsuranceCouncil Meeting (AIC49) opened in Ha Long city, the northern province of QuangNinh, on December 7.

The meetings brought together about 200 delegates representingthe ASEAN Secretariat, insurance management agencies, and insurance associationsof ASEAN member countries.

In his remarks, Deputy Minister of Finance Cao AnhTuan stressed that insurance remains an important part of financial cooperationin the grouping, as well as the crucial role of insurance businesses ineconomic growth.

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

For Vietnam, the official said, the domesticinsurance market has made noteworthy strides, yet they remain limited as comparedwith others in the region.

AtAIRM26, delegates will look into the ASEAN Disaster Risk Financing andInsurance Programme (ADRFI), the operation of the ASEAN Taxonomy forSustainable Finance (ATB) within the sustainable finance agenda in the region,and the implementation of the Framework for Circular Economy for the ASEANEconomic Community (AEC).

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

Theywill also work on the selection of the Young ASEAN Insurance Managers Award(YAMA)./.
VNA

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