Four consecutive years of W&I rate declines in Asia-Pacific have coincided with rising claims notifications and MGA exits, as competition among insurers and agents intensifies.
Accelerating medical cost inflation, strained combined ratios, and rising protection gap demands urgent joint action from governments, regulators and insurers.
China's property insurance market is poised for a five-year expansion, with Hong Kong's Wang Fuk Court fire sharpening focus on the home insurance protection gap that insurers are racing to close.
