In this interview with Asia Insurance Review, Tony Gallagher, CEO, Asia Pacific, discusses how reinsurance brokerage firms are evolving their value proposition, due to clients demanding deeper data insights and market benchmarks that enable them to make better-informed decisions.
“The market continues to have increased capacity and strong quoting activity," Tony said. “Rate reductions in property have been observed in most regions, with an average double-digit decrease.”
Tony then went on to describe how the market reflects a “noticeable increase in merger and acquisition (M&A) activity among insurance companies, to strengthen their market presence across APAC.”
He also mentioned how a growing focus on green energy “has driven new insurance products and risk solutions tailored to support sustainable and renewable energy projects across the region."