P&C insurers in three major North Asian markets of China, Japan, and Taiwan hold almost three times the amount of regulatory capital for asset risk than US carriers.
AM Best's APAC reinsurance composite shows combined ratio improved from 94.5% in 2022 to 91.6% in 2023, off the back of favourable earnings and absence of major cat events.
The application of AI can allow benefits including hyper-personalisation of products, but guardrails are key, experts said during an SAP Fioneer webinar.