A.M.BestTV: Swiss Re Group CEO Michel Liès: Great Opportunities in Catastrophe Casualty Coverage

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FOR IMMEDIATE RELEASE

OLDWICK - OCTOBER 22, 2014 11:29 AM (EDT)
This ^A.M.BestTV episode continues its focus on A.M. Best's annual "Insurance Marketing Briefing - Europe," where Michel Liès, group chief executive officer at Swiss Reinsurance Company, was the keynote speaker in London.

Liès addresses numerous issues, one of them being the current challenge of a softening market environment. "In such a market, one must know their clients' needs in order to assist them in navigating in this market," said Liès. "Also, one might believe that price evolutions would be the most dangerous in this market; however, I have found it to be only one dimension, as market conditions can be much worse."

Another issue Liès discusses is where the opportunities in the global market exist. He said, "The opportunities are in the emerging markets, which is a high growth market, as their growth perspective is twice as large as the one in the mature markets, and the growth of their premiums, as well as insurance penetration, is bigger than the growth of the gross domestic product."

Liès also speaks about the gap between insured and economic losses. "When a catastrophe happens, on average, only 25% are insured and 75% are uninsured depending on the catastrophe's location, and such an enormous gap cannot continue to be ignored."

Click here to view the entire video program: http://www.ambest.com/v.asp?v=lies1014.

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^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.

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