From hardening rates in cat-exposed regions to softening financial lines, Q4 market report paints a complex picture of growth, challenges, and shifting dynamics in APAC.
GlobalData forecasts sector to grow by 7.3% CAGR to NZ$12.9bn (US$7.87bn) in 2028, but profitability to remain volatile due to nat cats and reinsurance rates.
Plan promises a proactive approach to disaster risk reduction including improved early warning systems and reviews of building codes and insurance levy arrangements.
Industry loss estimate increases to NZD 2.174bn (US$1.33bn); contributing to record NZ$4.4bn in losses when combined with Auckland Anniversary Weekend Floods.
