Copying and distributing are prohibited without permission of the publisher
More premiums to stay in Asia: John Tan
05 March 2010
Asia’s reinsurance markets have weathered the global economic turmoil and a greater share of premiums is set to stay in the region, says the CEO of Asia Capital Reinsurance Group.
Read more:
John Tan
Asia Capital Reinsurance Group
premiums
2010 renewals
Asia has displayed a remarkable resilience to the severe recession which haunted the US, the Euro zone and other mature economies. China, India and Indonesia were the only large economies in the world which escaped an economic contraction in 2009, posting inflation-adjusted GDP growth rates of more than 8%, 5% and 4%, respectively.
Other economies such as Taiwan, South Korea and Singapore rebounded from the onslaught of the crisis surprisingly quickly. Against this backdrop, most pundits agree that the crisis which originated in the US will accelerate the widely anticipated shift in the global economic balance of power towards Asia. The fact that, in 2010, China will replace Japan as the world’s second-largest economy and Germany as the world’s largest exporter testifies to this shift.
Attractive reinsurance market fundamentalsThese underlying dynamics in Asian economies will bolster the region’s reinsurance markets. Excluding Japan, Australia and New Zealand, non-life reinsurance...
You must be logged in to view this page. If you are already a registered user please log in. Alternatively, you can request a free trial or subscribe.