Insurers urged to prepare global risk management strategies

Hong Kong

Insurers need to develop global risk management strategies to withstand the impact of pandemics and other global threats.

Speaking at Insurance Risk Asia, Wayne Lewis, Hong Kong-based deputy chief financial officer for the Asia-Pacific region at insurer AIG, said the outbreak of the severe acute respiratory syndrome (Sars) virus in 2003, which killed more than 700 people worldwide, demonstrated that insures were not immune to global crises, despite having weathered the financial crisis in 2008

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