Singapore Reinsurers’ Association marks 40th year

Singapore Reinsurers’ Association marks 40th year | Insurance Business

Singapore Reinsurers’ Association marks 40th year

The Singapore Reinsurers’ Association (SRA) commemorated its 40th anniversary on May 22 with a gala reception at the historic CHIJMES Hall.

The guest of honour was Ho Hern Shin, assistant managing director, banking and insurance, of the Monetary Authority of Singapore (MAS). Over 200 guests from the Singaporean, Malaysian, and British re/insurance sectors attended the reception, along with former SRA chairmen K.T. Phua and Christopher Ho, as well as former SRA executive committee members.

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In his opening address, SRA Chairman Marc Haushofer (pictured) spoke about the need for SRA to evolve to stay relevant to its members’ needs in the future economy.

“Encouraged by the progressive and supportive policies of the MAS, Singapore has grown to become a leading global reinsurance hub. SRA will continue to evolve to serve its members as the global economy and industry transform on the back of rapid technological advances in digitalisation, AI, blockchain and data analytics,” he said.

During the reception, a charity art auction was held, in aid of SRA’s chosen beneficiary, Save The Children. The international NGO works to improve the lives of children through better education, health care and economic opportunities, as well as providing emergency aid in natural disasters, war and other conflicts.

Auctioned off was the painting ‘Singapore Skyline’, a collaborative art work depicting Singapore’s vibrant cultural tapestry and the inclusiveness and diversity in the Singapore reinsurance landscape.

The winner of the five-way bidding war was Bobby A. Heerasing, CEO of Asia Capital Reinsurance Group, who bid SG$6,000 for the painting. As earlier promised in his opening address, Haushofer announced that SRA would top up the bid with a SG$10,000 donation.

Earlier that afternoon, at the SRA’s 40th annual general meeting, the three longest serving SRA executive committee members – Marc Haushofer, Desmond Tan and James Beedle – were retired by rotation and re-elected to serve on the committee for the 2019/2020 term, together with the standing executive committee members – Till Boehmer, Ann Chua, Philip Hough, Angela Kelly, Kenrick Law, Christoph Spichtig, and Theresa Wee.