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Asean insurers should look to lower reinsurance costs: Philippine regulator

May 29, 2014 - 6:00am


The Philippines' Insurance Commissioner Emmanuel Dooc said insurers in the Asean (Association of Southeast Asian Nations) countries should explore ways to reduce reinsurance costs and provide insurance against natural catastrophes to which the region is prone, Asia Insurance Review reported.

Mr. Dooc said the economic integration of Asean should present greater growth opportunities for the Philippine insurance market. Asean Insurance Council Secretary-General Evelina Pietruschka has urged local insurance industry players to tap the opportunities that integration presents as "there will be enough pie for everybody."

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