Coverage of the Singapore International Reinsurance Conference
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.
Franz Hahn, CEO, Peak Re, said Asia's largest market is making room for innovation, with early impact in coverage for professionals. Eventually, the technology will reach households.
Insurers at the 14th Singapore International Reinsurance Conference said demand for cyber coverage is surging, and that staying ahead means finding new ways to acquire and analyze a wider range of data sources.
Matt Cannock, principal officer and managing director, Markel International, said losses in the U.S. have the insurance industry watching how insurance-linked securities will perform.
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.
