Positive view for insurance market in HK
Source: Xinhua |
January 15, 2010, Friday
|
Print Edition
Print Edition
THE outlook for the Hong Kong insurance industry is positive, an executive with Zurich Life said.
"I would not use the word good. I would use the word positive," said Ted Ridgway, chief executive officer of Life Hong Kong, Zurich Life Insurance Co yesterday.
Ridgway said recovery has been underway in the Hong Kong insurance industry, which has been relatively less hard hit in the financial crisis than its Western counterparts, but he added that the recovery process would be long and slow.
"Over the next three to five years, providing something else does not happen - something we don't have control over, I think we can get ourselves back to, and above, that (pre-crisis level)," he said.
Zurich Life is introducing to Hong Kong a franchise model, under which agency leaders shall be able to run their business as a franchise. The new model will allow the agency leaders more autonomy.
"I would not use the word good. I would use the word positive," said Ted Ridgway, chief executive officer of Life Hong Kong, Zurich Life Insurance Co yesterday.
Ridgway said recovery has been underway in the Hong Kong insurance industry, which has been relatively less hard hit in the financial crisis than its Western counterparts, but he added that the recovery process would be long and slow.
"Over the next three to five years, providing something else does not happen - something we don't have control over, I think we can get ourselves back to, and above, that (pre-crisis level)," he said.
Zurich Life is introducing to Hong Kong a franchise model, under which agency leaders shall be able to run their business as a franchise. The new model will allow the agency leaders more autonomy.
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