Saturday, September 23, 2017

Asian captive market offers room for growth

Even though the captive insurance market exposes insurers to much lower risk burden, this is still not enough to spur growth in the sector, at least in Asia.

Danial Mah Abdullah, chief executive officer of the Labuan IBFC, described the region’s captive insurance market as still underpenetrated, and the opportunity for growth remains wide.

The present penetration level in Asia is 2.3% out of the total 6,939 captives established worldwide based on the Business Insurance 2016 report.

Danial said the Asian captive market is expected to continue growing at a modest pace and more Asian corporations are starting to appreciate the concept of having captives as alternative to their risk-management tools.

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