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International

Profitability becoming increasingly elusive for marine underwriters in Asia: Official

October 05, 2015 Reprints

Todd Wilhelm, head of underwriting at QBE Asia Pacific Holdings Ltd., has said that profitability is becoming increasingly elusive for marine underwriters in Asia, reported Asia Insurance Review.

Although there should be a high demand for more marine insurance services in Asia with the region playing a more prominent role in the global maritime sector, the reality "is somewhat different," said Mr. Wilhelm. Insurers that seek long-term relationships and strive to bring value-added services to their partnerships with shipping clients in the region will survive the intense competition in the sector, added Mr. Wilhelm.

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Profitability becoming increasingly elusive for marine underwriters in Asia: Official

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