Coverage of the Singapore International Reinsurance Conference
Scott Ryrie, co-CEO, AM Best Singapore, said Indonesia, Thailand, the Philippines and other Asian locales have shown growing demand for ratings.
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.
Recent natural catastrophe losses in Asia/Pacific have highlighted the challenges of cat modeling, SIRC attendees said.
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.
Steve Arora, chief executive officer, Axis Re, said events across the globe can affect overall profitability of catastrophe coverage.
