Best’s News & Research Service - July 09, 2012 01:51 PM (EDT)
Japan's Nonlife Sector Seeks to Boost Capital: BestWeek Asia-Pacific, July 10, 2012
OLDWICK, N.J. //BestWire// - Japan's nonlife insurers are looking to enhance their capital position after an eventful year of natural catastrophes combined with a weak investment market environment, according to an article in the latest edition of BestWeek Asia-Pacific.
According to Tomoatsu Noguchi, president and chief executive of Toa Re, improving balance sheet results “has become an urgent issue due to weaker performance of primary insurance contracts and a soft investment environment.”
Also featured in BestWeek Asia-Pacific, Chang-eon Heo, director general of the insurance supervision department South Korea's Financial Supervisory Service, explains what the FSS would like to see in terms of market consistency in the region's emerging economies.
Speaking ahead of a seminar on the Indonesian market organized by A.M. Best Asia Pacific Ltd. in Jakarta, Jeff Yeung, senior financial analyst with A.M. Best Asia Pacific Ltd., told BestWeek profitable underwriting is a challenge for insurance companies in Indonesia's fragmented and competitive insurance market.
The 10 July edition is available at www.bestweek.com/asia and www.bestweek.com.