Description: In this fourth issue of International News of 2022.

Description: Write-up of 2018 Actuarial Research Conference from an international perspective.

Description: The chair of the International Section of the SOA reports to the section members.

Description: This article attempts to dispel some of the myths around the perceived unique nature of Asian markets. This part focuses on a risk management perspective, reviewing the current situation, including product diversification, competitive pressures, pricing issues, volume drivers, distribution customer relations, technical skills development, and special risk like AIDS, Hepatitis B and C and more.

Description: In this article, the author talks about the Brazilian life insurance and annuity markets.

Description: China has experienced significant economic growth over the last 30 years, during which its economy has grown faster than that of any other country in history. Foreign investments have been one of the major driving forces behind the explosive growth. As multinational companies have increased their investments in China, the number of foreign workers in China has increased. In particular, with a shortage of local talent in China, particularly at the middle- to senior-management level, many multinationals have been using expatriates to fill key positions. This article summarizes the compensation and benefit packages provided to more than 300,000 foreign workers in China.

Description: About a year ago we published our whitepaper “Insurance Innovation Opportunities Beyond COVID-19”. In the paperwe made some predictions on what innovation opportunities the pandemic would bring to the insurance space. It ishard to believe, but we’ve already had a year of living with the pandemic. In recognition of how much time haspassed, we want to look back at a few of our customer realities from last spring set against the innovations thathave been delivered in the market since.

Description: This article attempts to dispel some of the “myths” around the perceived unique nature of Asian markets. Part I addresses the nature of the markets, the business drivers and the issues and challenges being encountered. Then, in Part II, from a risk management perspective, the current situation is reviewed, issues identified concerning the future development of appropriate skills to tackle the inevitable rapid growth in customers under management and the anticipated diversification in terms of product coverage and distribution approaches.

Description: In 2020, the Korean insurance regulator, Financial Services Commission (FSC), introduced a coinsurance structure allowing for full risk transfer—including investment risk, interest rate risk, insurance risk, and policyholder lapse risk—as a permitted practice. Expanding use of coinsurance in the Korean insurance market brings a suite of potential benefits to Korean insurance companies including increased financial flexibility, options to improve policyholder protection and shareholder value through optimization of business strategies. As such, FSC’s initiative and intention to introduce coinsurance opportunities to the market is commendable.

Description: Three consultants offer their views on a pandemic and post-pandemic economic future that awaits Mexico. COVID-19 deepened the contraction of the Mexican economy. As manufacturing and consumption bounce back, sustaineddemand for services can help recovery. But a policy push is needed. The global pandemic came at a time when the Mexican economy had contracted for five straight quarters due to avariety of factors such as deceleration in investment and private consumption and uncertainty around the free tradeagreement with the United States and Canada. The COVID-19 crisis accelerated this trend, resulting in the largest contraction since the Great Depression of 1929.