Cover Story – Catastrophe & Cat Modeling-Taming Cats
Source: Asia Insurance Review | Jul 2009
Catastrophes are a major issue for Asia in terms of both lives and property. Demographic trends and economic growth will drive losses higher in coming decades. As more total exposure becomes insured, the insurance system will play a growing role in funding them. Mr Sifang Zhang CPA CFA, Head of Rating Agency Advisory Service – Asia Pacific, Aon Benfield, examines this to see if this will lead to profits or problems for Asian insurers and also recommends that an insurer build a catastrophe management strategy using the rating agencies’ criteria.
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