Press Release - MAY 14, 2018
A.M. BestTV: At EAIC: As Asia's Insurers Expand at Home and Abroad, Reinsurers Aim to Share the Ride
| ||Lee McDonald|
Group Vice President, Publication and News Services
+1 908 439 2200, ext. 5561
FOR IMMEDIATE RELEASE
OLDWICK - 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.
Recent episodes of A.M.BestTV include:
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- Philly I-Day: Insurers Are ‘Financial First Responders’: Insurance professionals attending Philly I-Day discuss the role of the insurance industry in the U.S. economy and how it drives economic growth through investments and financial protection products: http://www.ambest.com/v.asp?v=phillyiday418 .
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- Lebanon Insurers Struggle With Fragmented Market, Says A.M. Best Senior Analyst: Alex Rafferty, senior financial analyst, A.M. Best, reviews the issues shaping the insurance market in Lebanon, including how some insurers operate outside control of the insurance regulator: http://www.ambest.com/v.asp?v=lebanon518 .
A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html . View A.M.BestTV episodes at http://www.ambest.tv.
A.M. Best is the world’s oldest and most authoritative insurance rating and information source.