Marsh: Asia Insurance Market Report 2016March 21 2016
As part of our Commitment to keeping you informed, Marsh is pleased to present you with the Asia Insurance Market Report 2016. The report is a snapshot of current market conditions and risk trends across major lines of coverage in countries throughout the region; it also reflects the experience of Marsh insurance professionals who work daily with the global insurance marketplace and provide clients with risk management advice.
With 2016 under way, the global insurance marketplace appears to be heading in the general direction of soft pricing, reflecting insurer capacity, competition, and relatively low catastrophe losses. At the same time, our industry will continue to be affected by macro-dynamics, including global, political, regulatory, technical, and environmental developments.
In addition, the insurance industry is also experiencing some significant developments that bear watching throughout 2016, including:
- Large scale mergers and acquisitions
- Executive leadership changes
- A reduction in and changes in underwriting appetite at several companies
- Some insurers’ disposition of unprofitable segments
- Recent announcements regarding potential and actual reinsurance underwriting
These developments may ultimately produce positive outcome, such as a prolonged healthy, competitive market with higher levels of innovation, new product offerings, and improved service.
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Economic uncertainty, more complex risks and tighter underwriting are all influencing Asia's markets.
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