A.M.BestTV at Property/Casualty Insurance Joint Industry Forum: FM Global Group's New CEO Says Africa is the New Growth Area

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FOR IMMEDIATE RELEASE

OLDWICK - JANUARY 15, 2015 01:28 PM (EST)
In this ^A.M.BestTV episode from the recent Property/Casualty Insurance Joint Industry Forum, held in New York, NY, the new Chief Executive Officer at FM Global Group (FM Global), Thomas Lawson, believes multinational clients have become more active in Africa, particularly in the power and mining sectors.

"Where the clients are there you have opportunities for growth, and recently this growth is occurring in Asia, South America, but most importantly, Africa, which seems to be the last frontier in terms of the industry," said Lawson. "The challenge to this growth is operating on a multinational scale, as a third of FM Global's clients are Fortune 1000 companies, with 70% being multinational."

Looking ahead, Lawson sees 2015 as being a challenging year, with a significant amount of insurance capacity amid regulatory shifts. "What we're seeing on a worldwide basis is increasing regulation," said Lawson, adding that the key is to make sure it doesn't hamper carriers or brokers. "It should support business opportunities as opposed to being an obstruction."

Click here to view the entire video program: http://www.ambest.com/v.asp?v=lawson115.

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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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