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.
GlobalData expects the sector to grow at a CAGR of 5.2% over the next five years, driven by “heightened private expenditure and enhanced investment activities.”
