Trump fallout: Regional insurer CBL reacts

Trump fallout: Regional insurer CBL reacts | Insurance Business

Trump fallout: Regional insurer CBL reacts
As the world shifts on its new Trump axis, members of the insurance industry in the region are refusing to be anything but optimistic, despite a bad prognosis predicted for the Trans Pacific Partnership.

Minister for Trade, Steve Ciobo, has admitted to Sky News that the TPP is “less likely, than likely” following the shock result with former foreign minister Bob Carr calling the partnership “doomed” in  The Australian.

One person that agreed with this assessment was managing director of ASX-listed insurer CBL, Peter Harris, who admitted the vote did not turn out how he expected it would.

However, he said it did not spell doom for CBL by any means.

“I did not think the US would elect Trump, but it is done, and he will want to be a good president, so I am over it, and CBL is in a good space to make the best of it.

“The TPP is possibly dead, but other opportunities always arise.”

Harris said the vote outcome represented ‘yet another wake-up call’ to politicians around the world that they have to listen to people, and not just through the pollsters.

“People in the Arab Spring uprisings, UK’s Brexit, and now the US were clearly not happy with their lot, and they are sick of successive regimes which the general population think do not listen to them,” he told Insurance Business.

“And the politicians particularly have to listen to people who are not doing so well financially.

“Those people (if they vote), have more votes numerically than people doing really well financially.

“Elections are now much closer, voters ‘swing’, and cannot be counted on for life any more.”

Harris remained hopeful for a better outcome for a Trump presidency than the doom and gloom being predicted around the world and reflected on the Trump protests which followed the result.

“If Trump focuses on getting the economy right, more people get jobs, and earn a little more, and learns to be a statesman and not just someone seeking soundbite media time, then maybe he might work out,” he said.
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Image: Gage Skidmore