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Insurance
A patient path is required in Asia
There has been, and continues to be, significant growth potential across Asia in terms of large commercial risks and in growing the consumer insurance markets, believes Matt Fairfield, the founder and chief executive of ANV Holdings, which operates three syndicates at Lloyd’s, who is attending the EAIC this week.   2 November 2014
News
Too much competition pushes rates down in Asia
Reinsurance rates in the Asia-Pacific region are now extremely soft with too many players competing for business—but the region will still represent the biggest driver of growth for the industry globally.   2 November 2014
News
Big cat losses have been forgotten too soon
Reinsurers have lost sight of how exposures have grown and have too quickly forgotten the big losses that hit the region just three years ago, Pietro Toffanello, head of property-casualty business in Asia Pacific for Gen Re, told EAIC Today.   2 November 2014
Insurance
EAIC talking points to reflect diversity of region’s markets
Insurance development in East Asia is not homogeneous as is the case in some other markets such as West Europe or North America, and this is reflected by the theme of the 27th East Asia Insurance Congress (EAIC) in Taipei, two members of the congress’ organisational committee told EAIC Today.   2 November 2014
Insurance
Competition pushes reinsurers to target primary lines
As competition between reinsurers in the region has heated up in recent years, more players are starting to compete with their clients in the primary market, Stuart Spencer, CEO of Asia Pacific general insurance at Zurich Insurance, told EAIC Today.   2 November 2014
Reinsurance
Governments are taking the lead
Market participants in Asia face a multitude of challenges that are affecting the market simultaneously, making it very difficult to respond adequately to each one, Moungmo Lee, general manager, analytics, AM Best Asia-Pacific, told EAIC Today.   2 November 2014
News
US new capital affects Asia too
The Asian markets are being affected by the influx of capital into mature reinsurance markets such as the US because displaced reinsurers are increasingly seeking opportunities elsewhere, with Asia high on their list of targets, Takayuki Sumi, CEO of Tokio Millennium Re (UK), told EAIC Today.   2 November 2014
Reinsurance
Competition has driven rates to a plateau
The growth potential of the reinsurance market in Asia is enormous given the relatively low insurance penetration compared with the more established markets of the US and UK, Siew Wai Wan, senior director, insurance, Fitch Ratings, told EAIC Today.   2 November 2014
Insurance
Steadfast lures Lloyd’s Australia MD
Steadfast Group, Australia’s largest broking network, has appointed Adrian Humphreys as general manager – business development.   30 October 2014
Insurance
Markel boosts Malaysian offering
Specialist insurer Markel International has appointed Andy Ang as chief representative of Markel International in Malaysia.   27 October 2014

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