Swiss Re's catastrophe to Asian countries to sell insurance

According to "Financial Times" reported on May 26, the world's largest reinsurer Swiss Re is to further promote the four Asian countries with the negotiations, the four countries aims to sell a sudden catastrophe insurance. The insurance will be encountered in the countries of sudden natural disasters, to pay hundreds of millions of dollars in damages and across the country to provide assistance funds. These four countries have not yet announced the list.

Swiss Re insurance Asian public sector business development director Boer Man Group said that Myanmar and China's tropical storm occurred in Wenchuan after the earthquake, this will speed up the process of negotiations, weeks may be the first to complete transactions.

The funds operate more tense government, to buy them in the types of natural disasters, rapid access to financial support. Although these funds to support post-disaster reconstruction, can not meet up to several billions of dollars in funding needs, but these countries can avoid the Government to immediately seek assistance from the international market, or forced to change the budget spending plans.

At present, the global insurance purchased the only country of Mexico. Mexico is a country of frequent earthquakes in the country in 2006 to Swiss Re insurance purchased the sudden disaster insurance, the maximum payment amount of 450 million U.S. dollars.