Choppy waters for insurance sector but risks now better managed

Singapore

WHILE returns are declining, the insurance industry has become significantly more stable in the years since the global financial crisis, said a senior representative of the Geneva Association, a high-powered insurance think tank.

Michael Butt, who is also chairman of Bermuda-headquartered Axis Capital Holdings, said that slower global growth and the low interest rate environment could lead to consolidation among firms in his property and casualty insurance line.