Think globally, move carefully

William R. Berkley, founder and chairman of the W.R. Berkley Corp. insurance group, said the financial turmoil in Asia may be more of a correction than a collapse, but the recovery will be long and painful, with some negative implications for the insurance industry. Berkley believes Asian insurers h...

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Bibliographic Details
Published inBest's review (Life-health insurance ed.) Vol. 98; no. 12; p. 58
Main Authors McDonald, Lee, Winans, Christopher
Format Journal Article
LanguageEnglish
Published Oldwick A.M. Best Company 01.04.1998
EditionLife/health insurance edition
Subjects
Cartels
Economic conditions
Globalization
Insurance companies
Insurance industry
International markets
Joint ventures
Plywood
Policyholders
Property & casualty insurance
Strategic planning
Asia
United States > US
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Summary:William R. Berkley, founder and chairman of the W.R. Berkley Corp. insurance group, said the financial turmoil in Asia may be more of a correction than a collapse, but the recovery will be long and painful, with some negative implications for the insurance industry. Berkley believes Asian insurers have not escaped the fallout and may suffer even further. In the US, Berkley said his group will continue to set up regional property/casualty companies, then run them by emphasizing service, hands-on underwriting and disciplined reserving for losses.
ISSN:0005-9706