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In addition to the tragic toll on human lives, the coronavirus outbreak in China brings potential economic and market implications for China and beyond. Franklin Templeton Emerging Markets Equity team has been monitoring the situation and weighs in with some thoughts, comparing it to the outbreak of SARS in 2003.
Sustainability will be the key trend in 2020 and for the coming decade as it is an industry-wide issue that will fundamentally change how insurers will do business and who they will partner with. Other key themes are the threat of cyber-attacks and how insurers will protect their clients and balances sheets and generation hashtag, and how insurers will target and interact with the latest age group to enter the workforce.
Many South Africans are moving their businesses offshore, expanding into other jurisdictions and having to pay the wages of employees who are working abroad in multiple currencies. With the volatility of the Rand and other currencies, foreign exchange exposure can become an issue when running a payroll internationally.
What do you believe will be the biggest challenge when the COFI framework is finally implemented?