This comprehensive report offers valuable insights, developmental themes, and opinions from across the Asia Pacific region.
Readers of this report can expect to learn more about:
Diverse and Dynamic Markets: The APAC region is home to a variety of insurance markets, each facing unique jurisdiction-specific challenges and regional macroeconomic factors. Economic trends, regulatory changes, and technological advancements are reshaping market dynamics and testing insurers' resilience.
Strong Growth Potential: Despite challenges, APAC's insurance industry shows robust growth potential, particularly in accident and health, cyber insurance, and electric vehicle (EV) coverage. The broader economic recovery is also driving demand for innovative risk solutions, positioning APAC to continue driving growth in the global insurance industry.
Technological and Regulatory Advances: Digital and technological advancements are fuelling growth in several areas. Increased demand for cyber coverage is evident; the cyber market in APAC has been expanding at an impressive rate of almost 50% a year. Motor insurance remains dominant in the APAC non-life segment, with rising EV sales and new regulations emerging. Enhanced data, capital, and risk management strategies are essential for insurers to navigate the evolving regulatory landscape.
Natural Catastrophe and Climate: The region is highly susceptible to natural catastrophes, and rapidly growing urban areas are driving higher losses in high-risk locations, therefore regulatory measures for sustainability are coming into place across the region.
This intelligence has been drawn from the insights of Gallagher Re client advocates and practitioners covering 14 mature and emerging markets across APAC, as well as curated publicly available data sources.
