The Business Times: Tek Yew Chia And Jingwei Jia On Reinsurance Market’s 2024 Outlook

Reinsurers are being lifted by a rising tide of higher interest rates and lower claims.

2024 could be an even better year, as Asia’s growing wealthy class raise their purchases of life and health insurance. Tek Yew Chia, Head of Insurance for Asia-Pacific at Oliver Wyman, noted that the pandemic and geopolitical tensions have created an “acute awareness” in many communities of the need for proper protection, apart from “fate, family, and friends”.

Meanwhile, Jingwei Jia, Partner at Oliver Wyman, expects the reinsurance capital cycle will become longer, and will evolve to reflect rising uncertainty.

Read the full article here (paywall).