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Reinsurance
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
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
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
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
News
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
Insurance
Steadfast Group, Australia’s largest broking network, has appointed Adrian Humphreys as general manager – business development. 30 October 2014
Insurance
ACE Group has appointed Edward Ler as the president director for its Indonesian general insurance business. 27 October 2014
News
Following the successful launch of its US operation, Tokio Millennium Re (TMR) will continue to seek growth in new and previously unexplored lines and regions. 27 October 2014
Insurance
Specialist insurer Markel International has appointed Andy Ang as chief representative of Markel International in Malaysia. 27 October 2014
Insurance
The International Association of Insurance Supervisors (IAIS) has concluded development of the first-ever global insurance capital standard for global systemically important insurers (G-SIIs). 24 October 2014
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