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Downturn a "perfect opportunity" to tool up | Jorbb.com
Despite the challenges in a tough economic situation, CEO of MSIG Holdings (Asia), Alan Wilson, says it is now a "perfect opportunity" to pick up talent for the future.According to Wilson, 2008 profits for MSIG remain in the "comfortable" margins. However, the recession will throw up several new challenges for the organisation which include an increase in the number of cashflow problems and bad debts from clients, a spike in the number of dubious claims and a smaller return on investments during the next two years.But there are opportunities to be tapped into during this downturn, Wilson adds, as MSIG is using this downturn to pick up talent that have been laid off from their struggling competitors and from regions such as North America and Europe.Despite the industry's technicalities, insurance is still a people-based business where the capacity and capability to move ahead depend on the "quality and quantity of people that you have", Wilson says."Although times may be tough, it is a time for us to say, 'Ar
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