TALENT CRISIS IN ASIA ADDRESSED

Cross-border people movement looks set to escalate in Asian insurance markets in the coming years as firms face up to the need for evolution amid a perceived talent crisis in the region. And many of those who had previously left the continent to seek training and employment elsewhere now look set to return as economic growth and developing employment opportunities increase their prospects back in Asia. Discussions at the second day of the International Insurance Society conference in Taipei again largely focused on people issues, with many again voicing fears of a talent crisis across a number of developing Asian markets. Addressing delegates at the event, Michael Casella, managing director for the Asia Pacific zone at Chubb, said: “Because we want Asians running Asia, it is important that we take them across borders, and have Koreans moving to China, and Japanese moving to Singapore. To do this they may need to make sideways moves. We are also seeing a great talent pool of Asians that went to the UK and US to be educated, and these people are now returning to Asia.” Yassir Albaharna, chief executive of Arab Insurance Group, said this trend had also been present in the Middle East, where departing Asians had exacerbated the talent shortage facing the region.