Find ways to insure new risks - or risk going out of business: Munich Re
German group sees high potential growth in insuring against natural catastrophe and growing cyber danger
Singapore
IF non-life insurers want to stay in business, they need to find a way to insure weather-related natural catastrophes arising from climate change and new risks connected with digitalisation of industries and personal life such as cyber liability risks and data breaches - which will be increasingly common in Asia in the next few years.
German-based insurance group Munich Re singled out these risks as its focus area in the region, which is also the world's fastest-growing insurance market.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Great Eastern chairman appeals for patience as shareholders fume over share price ‘disaster’
S&P Global first-quarter profit beats estimates on strong product demand
Thai banks cut rate for some borrowers after push from PM
Money laundering accused who faces 22 charges to plead guilty on May 14
BNP Paribas beats estimates as lower costs offset trading slump
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover