Asean Pulse Report shows soaring inflation and parts costs are leading insurers to tighten terms and raise premiums.
Despite heightened challenges — including climate risk and social inflation — AM Best's report suggests a stable, yet cautious global reinsurance market with opportunities for increased margins.
Growth in health, agriculture, and resurgence in motor underpin AM Best's 'stable' outlook for China's non-life sector, but market faces drop in underwriting profit and slowing economy.
AM Best maintains stable outlook for Vietnam's non-life market, anticipating long-term benefits from regulatory changes made in early 2023.
Fitch forecasts moderation in property cat reinsurance rate increases to beneath 10%, with margins also expected to peak in 2024.