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Aon Benfield | Evolving Criteria Asia Pacific launch
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Media Contacts:
David Bogg Andrew Wragg Alexandra Lewis Aon Benfield Aon Benfield Aon Benfield
t: +44 (0)20 7522 4016 t: +44 (0)20 7522 8183 t: +44 (0)20 7882 0541 e:[email protected] e:[email protected] e:[email protected]
For immediate release
Asia Pacific insurance industry continues to strengthen despite headwinds,
according to Aon Benfield Evolving Criteria study
Gold Coast, 24/09/13 – Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc
(NYSE:AON), today launches its annual Evolving Criteria report, which reviews the latest developments in
rating agency protocol and impact for the insurance industry in the Asia Pacific region.
The report highlights that the Asia Pacific insurance markets have slowly recovered from the significant losses
they incurred following the series of natural disasters that impacted the region in 2011. The incidence of large
scale catastrophes has since decreased, allowing insurers’ balance sheets to rebuild.
Strong economic growth is also contributing to an increasingly stable environment for insurers in Asia Pacific,
albeit with growth rates in some regions that are below expectations
This stability is further supported by high premium growth expectations in regions with low insurance
penetration rates, market liberalization, and an inflow of investments resulting from risk diversification from
existing mature insurance markets to the developing markets.
However, offsetting these strengths are factors including a persistent low interest rate environment, tightened
regulatory solvency requirements – which continue to put pressure on firms’ capitalization levels – and the
possibility of an economic slowdown in China, which could affect many markets in the region.
Rade Musulin, Chief Operating Officer of Aon Benfield Analytics Asia Pacific, said: “These offsetting factors
are evident in Standard and Poor’s five-year view of ratings actions across Asia Pacific, and create a level of
uncertainty for the Asia Pacific insurance markets which makes operating conditions somewhat more difficult.
Aon Benfield | Evolving Criteria Asia Pacific launch 2
However, whereas 2012 was dominated by ratings downgrades as a result of the 2011 catastrophic losses,
2013 has seen a rebound in upgrades, reflecting the re-strengthening of companies’ balance sheets.”
To view the full Evolving Criteria Asia Pacific report, please click on the link below: http://bit.ly/17WWRop To view Aon Benfield’s recent report on Asia Pacific solvency regulation, please follow the link below: http://bit.ly/16Bm58U For information on rating agency protocol for the Europe, Middle East and Africa regions, please visit Aon
Benfield’s Evolving Criteria EMEA report at the link below:
http://bit.ly/1cMudbg
Aon Benfield’s Evolving Criteria U.S. report will be released on Monday, October 21.
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About Aon Benfield Aon Benfield, a division of Aon plc (NYSE: AON), is the world’s leading reinsurance intermediary and full-service capital advisor. We empower our clients to better understand, manage and transfer risk through innovative solutions and personalized access to all forms of global reinsurance capital across treaty, facultative and capital markets. As a trusted advocate, we deliver local reach to the world’s markets, an unparalleled investment in innovative analytics, including catastrophe management, actuarial and rating agency advisory. Through our professionals’ expertise and experience, we advise clients in making optimal capital choices that will empower results and improve operational effectiveness for their business. With more than 80 offices in 50 countries, our worldwide client base has access to the broadest portfolio of integrated capital solutions and services. To learn how Aon Benfield helps empower results, please visit aonbenfield.com.
