A.M. BestTV: Life, Asian Insurance Growth Remake List of World’s Largest Insurers

CONTACTS:

FOR IMMEDIATE RELEASE

OLDWICK - JANUARY 06, 2017 03:10 PM (EST)
In this A.M. BestTV episode, A.M. Best executives examine the rating agency’s annual list of top global insurers, which shows shifts in rankings driven by regional insurance and product trends. Click on http://www.ambest.com/v.asp?v=globalrankings117 to view the entire program.

“In the Asian market, with economic growth, business activity increases and demand for insurance increases,” said Jose Ribeiro, managing director, Asia-Pacific, A.M. Best. “The second driver for growth is the increase in insurance penetration as the middle class becomes wider and more robust insurance buyers, and the third factor that drives insurance growth is the sophistication in regulation that basically creates the framework for the insurance industry to develop.”

Christie Lee, director, analytics, A.M. Best, highlighted the challenges that exist in the emerging markets.

“A.M. Best expects the growth momentum to continue but at a slower rate. Macroeconomic uncertainties such as low interest rate and subdued trade activities make the operating environment of insurance companies in emerging markets very challenging,” said Lee.

The episode also notes that life insurers generally have moved up in the ranking, while spots held by the property/casualty sector have remained stagnant.

This annual report appears in the Jan. 2, 2017, issue of BestWeek. To access a copy, please visit http://www3.ambest.com/bestweek/bestweekreports.aspx?rt=bw .

Other people that appear in this episode:

• David Pilla, news editor, A.M. Best.

Recent episodes of A.M.BestTV include:

• Analytics, Compliance Demands Drive Growth for Auditors & Actuaries: Executive Editor Patricia Vowinkel discusses Best’s Review’s annual ranking of insurance industry outside auditing and actuarial firms: http://www.ambest.com/v.asp?v=auditor117 .


• FM Global Takes Aim at Global Flood Risk: Thomas Lawson, president & chief executive officer, FM Global, said the insurer plans to make public parts of its worldwide flood-mapping project and also open a new facility in Singapore: http://www.ambest.com/v.asp?v=lawson117 .


• Contaminated Drinking Water Triggers Range of Insurance Risks: Experts in environmental insurance, regulatory compliance and water issues discuss the risks and insurance coverages of contaminated water systems and supplies: http://www.ambest.com/v.asp?v=contaminatedwater117 .


• Insurance Charitable Event Raises $1.4 Million: Members of the Northeast Division of the Insurance Industry Charitable Foundation raised a record amount of money to benefit regional charities that support education, at-risk children, the environment, disaster preparedness and more: http://www.ambest.com/v.asp?v=iicf1216 .

A.M. BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M. BestTV episodes at http://www.ambest.tv.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source.