The space agency's review found that domestic insurers currently lack sufficient capacity to underwrite large and complex space risks, leading to heavy dependence on international reinsurance markets.
The reinsurer said the virus lacks the aggregation and systemic exposure characteristics associated with COVID-19 and other widespread respiratory outbreaks.
Underlying earnings improved even as equity‑sale gains faded, with strong international profitability and lower nat‑cat losses more than offsetting a softer Japan P&C result.
