A.M. BestTV: At EAIC: As Asia’s Insurers Expand at Home and Abroad, Reinsurers Aim to Share the Ride
OLDWICK, N.J.--(BUSINESS WIRE)--May 14, 2018--In this A.M. BestTV episode, attendees at the 29th East Asian Insurance Congress (EAIC) in Manila, Philippines, said insurers are working with regional reinsurers in some markets and tapping expertise of global reinsurers as they expand into new markets. Click on http://www.ambest.com/v.asp?v=eaic1518 to view the entire program.
One of the hot topics at the conference: which group does better at winning a local company’s business, a regional or global reinsurer?
“In Malaysia, the regional reinsurer is the preference, but you have to balance it with some of the national agenda,” said Seck Guan Chua, chief executive officer, MSIG Insurance (Malaysia) Bhd.
“If you look at the cost of capital and the operating model, a global player definitely would have a slightly better advantage,” said Kenrick Law, chief executive officer, Allianz SE Reinsurance Branch Asia-Pacific. “A global reinsurer has a more diversified portfolio, as well as the expertise in dealing with different global players.”
Chris Ma, chief executive officer, AIA Macau/EAIC, also said he believes that global reinsurers would be preferred, due to their bigger customer bases and their ability to offer better terms.
For full video coverage of EAIC, including exclusive executive interviews, visit http://www.ambest.tv/eaic18.
Also appearing in this episode:Zainudin Ishak, president and chief executive officer, Malaysian Re; and Clarence Wong, chief economist, Asia Pacific, Swiss Reinsurance Corporation.
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KEYWORD: UNITED STATES EUROPE ASIA PACIFIC NORTH AMERICA PHILIPPINES NEW JERSEY
INDUSTRY KEYWORD: PROFESSIONAL SERVICES INSURANCE
SOURCE: A.M. Best
Copyright Business Wire 2018.
PUB: 05/14/2018 11:29 AM/DISC: 05/14/2018 11:29 AM