OLDWICK, N.J.--(BUSINESS WIRE)--In this A.M.BestTV episode, Reto Brosi, managing director, Megrow Pte Ltd., explores issues surrounding the move toward risk-based capital regulatory structures in Asian countries such as Singapore, the Philippines, Thailand and China. Click on http://www.ambest.com/v.asp?v=brosi517 to view the entire program.
Hong Kong has initiated steps to boost its risk-based capital framework.
“In Asia, specifically in Hong Kong, cyber risk is at the forefront,” said Brosi. “What I mean by forefront is in terms of opportunities and threats. It is important that risk regulations reflect this so that companies are prepared to convert this risk into business, helping their customers and making sure that they are stable and can manage their enterprise risk management.”
Brosi also addressed the issue of Hong Kong’s new risk-based capital (RBC) framework.
“I am a great supporter of moving from rule-based supervision to a more risk-adequate RBC-type of framework. That is a global trend. Different markets use slightly different means and details, but the global trend is there. I think it is crucial that Hong Kong, as a leading financial center, does not fall behind.”
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