OLDWICK, N.J., November, 2013—In this episode of A.M. BestTV, Denis Kessler, chairman and CEO of Scor, talks about the company’s success in emerging markets, saying that if you don’t trust the local people in those markets, then “don’t go there.” Kessler said that interest in emerging markets is for good reason as he expects half of all insurance growth globally to come from those markets over the next decade. But Kessler offered some cautionary words on expansion strategies. He insists on local teams in emerging markets, saying that without them, success can come at a very slow rate, if at all. Additionally, he said natural catastrophe risks should not be underestimated. Kessler, who was the keynote speaker at A.M. Best’s recent 2013 Insurance Market Briefing – Europe, also addresses what he sees as the two main challenges facing the industry: interest rates and regulatory changes. On interest rates, Kessler said companies need to prepare for the potential transition from a low interest rate environment to a high interest rate environment. And on the regulatory environment, he said stability is essential. Click on http://www.ambest.com/v.asp?v=kessler1113 to view the video program.
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