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EAIC preview: Meeting the challenge
03 November 2008
East Asia is being hailed as a land of opportunity for insurers. In the lead-up to this year's East Asian Insurance Congress, Karen Eeuwens asks some of its main speakers about the challenges the region faces and how insurers and reinsurers can respond.
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[eaic]
[insurance]
[asia]
The industry's attention will be turning east in November in hot anticipation of the 24th East Asian Insurance Congress (EAIC). Since 1962, the biennial EAIC has been doing the rounds of East Asian hubs – including Tokyo, Manila, Bangkok, Seoul, and Jakarta – in an effort to bring together leading executives from the region. This year it will take place in Hong Kong for the first time since 1986.
Since the EAIC set out on its mission, east Asia's profile has changed dramatically. Asian economies are now booming and insurance penetration in the region is growing every year. Hong Kong is at the forefront of this trend with a life insurance penetration of 10.6%, the second-highest in the region after Taiwan.
Although Hong Kong is a territory of China – the biggest country and second-largest economy in the region after Japan – Agnes Choi, chairman of the EAIC's organising committee, says...
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