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    Asia Reinsurance Brokers Minutes of 1 Country Directors Meeting (CDM) Held On June 10, 2019

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    1. The minutes summarize the 1st Country Directors Meeting of Asia Reinsurance Brokers held on June 10, 2019. Key agenda items discussed were confirming previous meeting minutes, providing updates on market movements, accounts being worked on, and other matters. 2. Under accounts being worked on, updates were provided on several treaty and facultative renewal accounts in Malaysia, Philippines, and Indonesia. Progress and status of negotiations were outlined for each. 3. Other matters discussed included an outstanding premium payment, pursuing new trade credit business, competing for a state insurer's accounts, and the need to work closely with an existing client to maintain their business for the next renewal period.

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    Asia Reinsurance Brokers Minutes of 1 Country Directors Meeting (CDM) Held On June 10, 2019

    Uploaded by

    Jumbo Fly
    83 views2 pages
    1. The minutes summarize the 1st Country Directors Meeting of Asia Reinsurance Brokers held on June 10, 2019. Key agenda items discussed were confirming previous meeting minutes, providing updates on market movements, accounts being worked on, and other matters. 2. Under accounts being worked on, updates were provided on several treaty and facultative renewal accounts in Malaysia, Philippines, and Indonesia. Progress and status of negotiations were outlined for each. 3. Other matters discussed included an outstanding premium payment, pursuing new trade credit business, competing for a state insurer's accounts, and the need to work closely with an existing client to maintain their business for the next renewal period.

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    1. The minutes summarize the 1st Country Directors Meeting of Asia Reinsurance Brokers held on June 10, 2019. Key agenda items discussed were confirming previous meeting minutes, providing updates on market movements, accounts being worked on, and other matters. 2. Under accounts being worked on, updates were provided on several treaty and facultative renewal accounts in Malaysia, Philippines, and Indonesia. Progress and status of negotiations were outlined for each. 3. Other matters discussed included an outstanding premium payment, pursuing new trade credit business, competing for a state insurer's accounts, and the need to work closely with an existing client to maintain their business for the next renewal period.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    83 views2 pages

    Asia Reinsurance Brokers Minutes of 1 Country Directors Meeting (CDM) Held On June 10, 2019

    Uploaded by

    Jumbo Fly
    1. The minutes summarize the 1st Country Directors Meeting of Asia Reinsurance Brokers held on June 10, 2019. Key agenda items discussed were confirming previous meeting minutes, providing updates on market movements, accounts being worked on, and other matters. 2. Under accounts being worked on, updates were provided on several treaty and facultative renewal accounts in Malaysia, Philippines, and Indonesia. Progress and status of negotiations were outlined for each. 3. Other matters discussed included an outstanding premium payment, pursuing new trade credit business, competing for a state insurer's accounts, and the need to work closely with an existing client to maintain their business for the next renewal period.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Asia Reinsurance Brokers

    Minutes of 1st Country Directors Meeting (CDM) held


    on June 10, 2019
    Present Stephen Cheong (SC) Chairman for June CDM
    Judy Chan (JC)
    Chong Kian Hiung (KH)
    Mike Seward (MS) Indonesia
    Roy Sharma (RS) Malaysia
    Lito Bantayan (LB) Philippines

    Absent with Apologies Richard Austen (RA)


    Mandy Phan (MP)
    Saliya Jinadasa (J)
    ____________________________________________________________________
    Minutes prepared by : Stephen Cheong – Chairman for June CDM

    Agenda of Meeing:
    * Confirmation of minutes of SBT held on June 04, 2019
    * Update on market movement, market news, accounts working on
    * Any Other Matters

    1.0 Confirmation of Minute


    Those present on June 04, 2019 for SBT meeting confirmed the minute.

    2.0. Update on Accounts Working On

    2.1 Treaty Accounts Working On


    * RHB Malaysia
    It is now 75% completed. The final stage is to get full support behind Hannover
    Re’s Lead.

    * Empire Insurance, Philippines


    Only partial renewal information has been received:
    - Direct Business – received
    - Inward Business – pending

    * Philippine British, Philippines (PB)


    Letter of Appointment has been issued by cedant to another broker.
    Estimated Brokerage from PB is S$ 119,000

    * Avrist, Indonesia
    ARB just received the renewal package.

    1 of 2
    Asia Reinsurance Brokers
    Minutes of 1st Country Directors Meeting (CDM) held
    on June 10, 2019
    * KARK, Indonesia
    MP has approached the market for quotations.
    As the submission date is June 12, 2019, MP is seeking for extension to submit
    the quotation.

    2.1 Facultative Accounts Working On


    * PLDT, Philippines
    Working on the renewal quotation

    * RCBC D&O, Philippines


    Working on the renewal quotation.

    3.0 Other Matters


    3.1. Stronghold Insurance, Philippines
    The cedant has already paid to their existing broker UIB.
    Now just need UIB to pay China Re for the 2018 premium.

    3.2 ARB Indo


    ARB Indo is working with Askindo, and Assuransi Asei, on the Trade Credit for Trans
    Jakarta Bus Company
    The purpose is to enhance/Improve their rating if they have the trade credit

    3.3 ARB PHP


    ARB PHP intends to assist NRCP to bid 100% share on the GSIS Accounts
    SC commented that he is not in a position to assist NRCP as he is already involved
    in the GSIS Accounts with Malayan.

    ARB Board of Directors to decide how to handle this request of NRCP.

    3.4 Mercantile Insurance, Philippines


    ARB needs to work closely with Frank Ramos on Mercantile Insurance to secure our
    renewal share for 2020 renewal. Currently there are 4 brokers involved in their
    program. Cedant has the intention to reduce the number of brokers to 1 or 2 for the
    2020 renewal..

    2 of 2

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