Coverage of the Singapore International Reinsurance Conference
Recent natural catastrophe losses in Asia/Pacific have highlighted the challenges of cat modeling, SIRC attendees said.
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.
Graham Clark, chairman, Asia Affinity Holdings, said Japanese life and non-life insurers have been following a strategy of building and acquiring business outside of Japan.
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.
