As the 2024 Singapore International Reinsurance Conference (SIRC) drew to a close, new Singapore Reinsurers’ Association (SRA) Chairman Kenrick Law outlined his vision for the association and the industry, emphasising that stagnation is not an option in today’s market.
Law, the regional CEO for Allianz Re Asia Pacific and its Head of P&C and Agriculture Client Management, has taken over from Marc Haushofer, who had been chair of the SRA since January 2017.
“SIRC has transformed quite significantly in the last 5, 6, 7 years,” said Law “It’s very important to see that it’s more or less (Haushofer’s) work.”
“If we don’t keep on changing, adapting ourselves, we might one day be either marginalised or even extinct,” Law said. “We need to work together to continue, carry this industry forward.”
Law emphasised a focus on sustainability and talent development in the industry for the association going forward. “The future of the reinsurance industry is highly dependent on how we can attract, how we can nurture and how we can support the future generations of leaders,” Law said.
The association will spend more time on talent development in collaboration with other associations inside and outside of Asia, he added.
Kenrick Law
Chairman of the Singapore Reinsurers’ Association“It is very important to make sure that our future generation of leaders is well equipped for what’s necessary to take this industry forward,” Law added. “We can talk about AI, we can talk about climate change, we can talk about data, but if we don’t have good leaders to take us forward, it will be a challenging topic for us to address.”
Law said that the SIRC conference in 2025 will likely be centred on adaptation and resilience and emerging stronger through change.
“I cannot think of a successor who is more suitable than (Kenrick Law), and with him, the SRA will be in good hands,” said Haushofer.
The 20th edition of the SIRC saw more than 3,300 registered delegates from more than 400 companies and organisations attending, a new record.
