Oil and Gas Feature - Booming energy growth but not the rates
Source: Asia Insurance Review | Aug 2011
For the economic powerhouses of China and India and the smaller emerging markets in Asia, it is all system go, before and after the GFC. Reflecting that boom is the strong growth of the oil and gas industry in the region.
For energy insurance, more of it is being written out of Asia, with eight of the 16 Lloyd’s syndicates in Singapore writing this class. The downside is that rates have not been adequate due to complacency and competition. Two major players give us an update of the situation today.
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