Coverage of the Singapore International Reinsurance Conference
Milan Simic, executive vice president and managing director, international operations, AIR Worldwide, said Asia has already been home to a broad range of catastrophes.
Tobias Farny, Munich Re's chief executive Asia Pacific covering greater China, Australia and New Zealand, said the Chinese insurance market remains dominated by motor insurance, with the next stages of growth set for personal and commercial coverage.
Tony Gallagher, chief executive, Asia Pacific, Guy Carpenter, said mature markets in Asia are dealing with the challenges of insurtech and new forms of distribution.
Paul Burgess, vice president, RMS, said developing laws in Asia and elsewhere could hamper insurers' abilities to share and use data that could be used to improve models and predict risk.
Toru Komoguchi, president and CEO, Marnix, said Japan is dominated by three large nonlife insurers, but changes are afoot to make it more flexible and competitive.
