The Singapore International Reinsurance Conference (SIRC) was launched in 1991 to fill in the gap between the biennial meetings of the East Asian Insurance Congress (EAIC) to give insurance professionals a forum to meet and discuss issues of the day, while taking stock of developments in the reinsurance market; and starting preparations for the following year’s treaty renewals.
Like the EAIC, the SIRC has gained a strong reputation and loyal following over the years, with reinsurers, insurers and reinsurance brokers from all over the world attending and conducting bilateral discussions alongside the main conference, which attracted close to 1,000 registered delegates from around the world to the last event in 2015. From 2017 onwards, the SIRC will be organised annually.
The SIRC is organised by the Singapore Reinsurers’ Association (SRA) and co-organised by the Reinsurance Brokers’ Association of Singapore (RBAS) and the Singapore College of Insurance (SCI), with Asia Insurance Review (AIR) as the official magazine of the Conference since its launch.
ABOUT THE ORGANISER
Singapore Reinsurers’ Association
Established in 1979, the key objectives of the Singapore Reinsurers’ Association (SRA) are:
- to represent members in matters affecting their business interests;
- to facilitate dialogue and encourage healthy market competition;
- to promote professional excellence through education and training; and
- to foster strong social bonds within the industry and beyond.
The SRA is managed by an elected Executive Committee, which comprises senior reinsurance practitioners who dedicate their time on a strictly voluntary basis, supported by a full-time Executive Director and Secretariat team.
As of 1 March 2017, the SRA has a total membership of 53, comprising 32 Ordinary, 17 Associate, 2 Affiliate and 2 Honorary members. All major non-life reinsurance companies with a presence in Singapore, as well as some direct insurance companies that write a substantial reinsurance portfolio are Ordinary members of the SRA. In addition, several major reinsurance broking firms as well as some regional reinsurers are Associate members.
ABOUT THE CO-ORGANISERS
Reinsurance Brokers' Association (Singapore)
The Reinsurance Brokers' Association (Singapore) or RBAS was established on 19 Dec 1995.
The Association’s main objectives are to:
- Establish a forum and standard for Licensed Singapore Reinsurance Brokers;
- Safeguard their professional interests and to enhance and promote their effectiveness;
- Promote compliance and protect our industry's ethical and legal standards;
- Promote the education and training of persons practising or intending to practise reinsurance broking in Singapore;
- Contribute to thinking and action on proposed and existing legislation, as well as present a cohesive channel of communication and representation for members to regulators and legislators; and
- Promote a forum for an exchange of views and information between members and other local and international associations and professional bodies.
Currently there are 12 reinsurance brokers registered and conforming to the standards and requirements laid down by RBAS.
Singapore College of Insurance
The Singapore College of Insurance (SCI) is a not-for-profit professional training and education body set up in 1974 as part of Singapore’s efforts to develop as an international insurance and banking hub. For more than thirty years, the SCI has remained focussed in its efforts to upgrade the technical expertise of insurance practitioners and to provide them with professional advancement opportunities through its series of practice-oriented programmes and internationally-accredited qualifications. Since the late 1970s, the College has also played the role of an industry examination body to conduct regulatory examinations for those wishing to join the financial advisory, life and general insurance industries.
In recent years, the SCI has also expanded its role to include talent development programmes such as the Insurance Executive Scholarship Programme, which has succeeded in attracting and placing numerous fresh tertiary talent into the varied functions in the industry. The SCI was voted the Asia Insurance Industry Educational Service Provider of the Year in 1997, 2001 and 2007. It has international links with professional bodies such as the Chartered Insurance Institute in the UK as well as The American College in the US, as well as with regional training institutes in the region through its involvement in the ASEAN Insurance Education Committee projects. The SCI had also actively helped to set up the Asia-Pacific Risk and Insurance Association (APRIA) to further insurance education and promote links between academia and industry.
OFFICIAL MEDIA PARTNER
Asia Insurance Review
Asia Insurance Review (AIR), hailed by market leaders as the leading premier professional regional journal, is a strategic partner to the insurance industry. It is continually committed to serving the insurance industry with information, technical and editorial content as well as daily on-the-spot updates, high quality technical conferences, reinsurance rendezvous and industry Awards to support the industry’s march towards higher standards and greater professionalism.
Now in its 23rd year, AIR has remained the official magazine of leading industry events in Asia including the East Asian Insurance Congress (EAIC), and the Singapore International Reinsurance Conference (SIRC), while being the Permanent Observer of the Asean Insurance Council.
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