Asean has greater need for insurance to safeguard economic success

ASEAN, as a region, is growing very rapidly. Over the past decade, FDI has quadrupled. And yet, insurance penetration has failed to keep pace. Asean's insurance penetration rate was 3.4 per cent in 2013 - just half the global average.

Why does this matter?

In simple terms, insurance underpins economic development. We protect the farms, mines and factories where commodities and goods are produced. We cover the roads, railways and ports that move these goods to market. And we stand behind every retailer and service provider, safeguarding them from unexpected threats that would otherwise damage their balance sheet beyond repair.