A.M.BestTV: The 27th East Asia Insurance Congress – ‘A Permanent Change in The Way The Industry Responds’

OLDWICK, N.J.--()--In this A.M.BestTV episode from day one of the 27th East Asia Insurance Congress in Taipei, Taiwan, attendees said Asia remains a growth market for insurance and reinsurance, but warn about inadequate pricing in an environment in which surprise losses are a constant possibility.

John Tan, group chief executive at ACR Capital Holdings sees in Asia substantial growth potential but also challenges. “What is most disturbing to me is the competition for marketplace growth, rather than quality of business,” said Tan.

“For many years analysts have felt that the market cycles would be shorter and flatter; however, I believe this has already occurred,” said Britt Newhouse, chairman at Guy Carpenter. “The market is in a permanent change in the way the industry responds, and because of this change I don’t believe it is prudent for businesses to manage themselves as if there will be radical changes in the market again.”

Also appearing in this episode are:

  • Michael Mitchell, managing director chief property underwriter Asia at Swiss Reinsurance Company; and.
  • Christopher Ma, chief executive officer at AIA Macau

Click here to view the entire video program: http://www.ambest.com/v.asp?v=eaic11114.

Full-length interviews are available as well. Go to www.ambest.tv/eaic to see new interviews throughout the conference. Interviews conducted thus far include:

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 Company is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2014 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

Contacts

A.M. Best Company
Lee McDonald, 908-439-2200, ext. 5561
Group Vice President, Publication and News Services
lee.mcdonald@ambest.com

Contacts

A.M. Best Company
Lee McDonald, 908-439-2200, ext. 5561
Group Vice President, Publication and News Services
lee.mcdonald@ambest.com