* Asia insurance hiring up 3.1 pct in H1 2012 vs H1 2011
-data
* Full-year 2012 hiring could show double-digit increase
-recruiter
* Middle managers, actuaries in particularly high demand
By Clare Baldwin
HONG KONG, Sept 10 (Reuters) – Slowing economic growth
across much of Asia has failed to crimp expansion plans by the
region’s insurance companies, even as the rest of the financial
industry slashes jobs.
While banks and brokerages cut costs and jobs in Asia amid
falling corporate confidence and plunging deal volumes, insurers
are riding the wave of rising individual wealth across the
region.
Economic growth and increasing salaries, combined with high
savings rates, are creating fertile ground for more
straightforward financial services, such as retail banking and
insurance.
“Before people enter the middle class, they can’t afford to
buy our products,” said Robert Cook, senior executive vice
president and general manager of Asia for Manulife Financial
Corp, speaking at an investors’ conference in Hong Kong
on Friday.
Manulife joins AIA Group Ltd, Zurich Insurance
Group Ltd, RSA Insurance Group PLC, Direct
Asia and Swiss Re AG in planning to grow headcount in
Asia, executives and financial sector recruiters say.
Continued…
