The most promising markets for reinsurers are currently Latin America, Asia and Africa, pointed out Ana FADEEVA, Reinsurance Director for TRANSSIB Re, at the Yalta International Financial Forum. "Most of the big players in the reinsurance industry have already established local offices, betting of the high growth potential of these areas. Yet, a particular attention will be given to Asian countries, where originated 40% of the global reinsurance industry losses for natural catastrophe risks," she explained.
Referring to the Russian insurance and reinsurance industry, FADEEVA mentioned that increased capital requirements recently introduced have led to a shortage of players on the market, so that some companies could not find appropriate sources for raising capital while attracting foreign investors. This is difficult given the legal caps on the foreign capital share of Russian companies in the field.