Coverage of the Singapore International Reinsurance Conference
Andy Woodhouse, managing director, Asia-Pacific, RMS, said 20% to 30% of Japan's economy is based on technology and dependent on complex supply chains.
Greg Carter, managing director of analytics for EMEA and Asia-Pacific, AM Best, said risk-based capital regulatory systems generally give rise to a stronger insurance sector, although operating performance can lag in the short term.
Scott Ryrie, co-CEO, AM Best Singapore, said Indonesia, Thailand, the Philippines and other Asian locales have shown growing demand for ratings.
Steve Arora, chief executive officer, Axis Re, said events across the globe can affect overall profitability of catastrophe coverage.
Mark Prichard, chief executive officer, NMG Consulting, said insurers in countries such as China and South Korea are demonstrating tech-based innovation, but those developments have been slow to develop in many other markets.
