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Market Report: Asia/Pacific/Middle East - China offers marine draw.
(From Reinsurance)
Byline: Jeremy Golden.
The world's major marine (re)insurers and brokers, including the Lloyd's syndicates, have long enjoyed a significant presence in Asian markets, particularly in Hong Kong and Singapore - so much so that much of the volume of marine reinsurance is retained in the region, often with non-Asian underwriters.
But by contrast to many other markets, China so far remains an attractive but elusive target for the multinational underwriters.
In the words of Hans Terje Anonsen, chairman of the global marine practice at Aon Group: "Asia has always been a magnet for trade but the boom in the Chinese economy ...
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