Japan’s loss-free property cat programmes fell 15% to 17.5% risk-adjusted, with double-digit declines reported in India, the Philippines, and South Korea.
Growth is also being supported by digital distribution, product innovation and underwriting discipline, despite pressure from rising vehicle prices, weaker purchasing power and weather-related losses.
The regulator is maintaining the 45% floor for the advanced illiquidity premium risk allowance to ensure that settings remain aligned with risk levels.
