Insurers urged to help bridge Asean infra gapFebruary 12 2018 by InsuranceAsia News Staff
Insurers have been encouraged to spur more economic growth by funding infrastructure projects via the private-public partnership scheme.
According to the ASEAN Insurance Council (AIC), insurers around the world are estimated to hold just 2% of assets under management in infrastructure investments.
Between 2004 and 2014, though, insurance premiums in ASEAN grew at an average annual rate of 13% or three times the global average.
This means that insurers are offered a lucrative opportunity that can be tapped by investing in viable infrastructure projects in the region.
The AIC noted that by 2030, ASEAN’s infrastructure development will need as much as US$3.1 trillion in investment.
AIC secretary general Evelina Pietruschka said the Asian Development Bank (ADB) believes that the Asian insurance industry can play a key role in meeting that need.
It is estimated that ASEAN requires up to US$60 billion additional investment annually to bridge its infrastructure investment gap.
- June 15
The government is relying on development financing, but the country's life insurers would like to get involved.
- February 22
Insurers have been urged tap into their funds to help support national infrastructure and development projects.
- January 19
Much still needs to be done to marry insurance capital in Asia with suitable projects. It is time to do it.
- December 21
The message is part of efforts to increase private investment in government-led projects