Coverage of the Singapore International Reinsurance Conference
Jayne Plunkett, Swiss Re's CEO for reinsurance in Asia, said understanding of business risk and the role of insurance varies among countries in Asia.
Hermann Pohlchristoph, board member for Asia, Munich Re, said that about 40% of economic losses from recent U.S. catastrophes are covered by insurance, higher than the up to 25% share of losses covered in Asia catastrophes in recent years.
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.
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.
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.
