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Asian trade and political risk insurance picks up speed
01 September 2008
Jamaican sprinter Usain Bolt may have entered sporting history books with his 100 and 200 metres Olympic wins in Beijing recently, but he has not been the only one smashing records in the Chinese capital. Dickon Harris talks to brokers and insurers based in Asia on how they have grappled with record levels of demand and the reasons behind their recent level of success.
trade credit political risk asia china
By any measure insurers have seen a sharp increase in the
demand for trade credit insurance (TCI) and political risk
insurance (PRI) over the last 12 months in Asia. As Jeremy
Hampshire, managing director of Hong Kong-based insurance
broker Trade Line, describes: "Business is on the up and up. I
came to Asia ten years ago and this market was in its infancy.
It was not even a toddler. I think in the last 12 months we
have witnessed a real surge in interest in the product in trade
and credit risk as the market has really started to
The level of both local and international demand has been
matched by insurers who have scrambled to set up offices in the
region. Their greater commitment to the region stems from their
recognition of the potential benefit of insuring the world's
manufacturing powerhouse. The pace of business has been
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