Insurers targeting 'under-insured' Asia

Munich Re sees strong potential growth in the region

Asia is viewed as a prime opportunity for expansion by reinsurance companies, as it is still 'under-insured' compared with Europe and the US, according to German reinsurance group Munich Re.

In terms of natural disasters, 34% of the 960 loss events worldwide, 49% of total global losses of $83 billion and 77% of global fatalities took place in Asia in 2007, according to research by Munich Re. Yet the region accounted for just 11% of the $26 billion of insured losses globally last year.

That may be

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