Shanghai will emerge as a reinsurance hub
Tuesday, 11 03 2015, Category: Insurance and Reinsurance, Country: Asia
As some of China’s re/insurers find their feet and settle on a reinsurance strategy Shanghai could develop as another reinsurance hub in Asia over the next few years, just as Singapore has, Moungmo Lee, managing director, analytics, AM Best.
Lee notes that while Toa Re and Korean Re have both reached the top 10 in the Top 50 Global Reinsurance Groups, in terms of absolute capitalisation, they are small relative to the world’s biggest reinsurance companies.
Some of China’s companies have the potential to be much bigger, however. He notes that China Re reached an absolute capital size of close to $9 billion in 2014 and is likely to exceed $10 billion once it goes public by the end of 2015.
Source: Intelligent Insurer