Heavy monsoon rains since June have triggered catastrophic flooding and landslides across India and Pakistan, leaving more than 1,000 dead and hundreds of thousands displaced.
Violent demonstrations in Kathmandu caused extensive damage to businesses and institutions, with reinsurance, primarily through Nepal Re, expected to cover the majority of industry losses.
Although North America and Europe dominate the cyber insurance market, Swiss Re noted that there is significant potential for future growth in the Asia Pacific Region.
The captive's capital position strengthened in 2024 through profit retention and favourable investment gains, offsetting pressures from underwriting inefficiencies.
