BEST'S MARKET SEGMENT REPORT: ASIA-PACIFIC REINSURERS ACHIEVE STRONG RESULTS IN IMPROVED INVESTMENT ENVIRONMENT
HONG KONG, Sept 6 (Bernama-BUSINESS WIRE) -- Major Asia-Pacific reinsurance companies saw their composite’s return on equity surge to 9.2% from 0.1% under IFRS 17, supported by a more stable investment environment and benign catastrophe activity, according to a new AM Best report.
The Best’s Market Segment Report, “Asia-Pacific Reinsurers Achieve Strong Results in Improved Investment Environment,” is part of AM Best’s look at the global reinsurance industry ahead of the Rendez-Vous de Septembre in Monte Carlo. Other reinsurance-related reports, including AM Best’s ranking of top global reinsurance groups and in-depth looks at the insurance-linked securities, Lloyd’s, life/annuity, health and regional reinsurance markets, are available at Best’s Research.
According to this report, Asian reinsurers, with business profiles characterised by a more traditional property line focus, as well as a relatively large book of proportional treaties, have benefited less directly from global reinsurance rate hardening. Nevertheless, the stability of operating performance of Asia’s reinsurers over the years has been notable, and they are working to improve profitability by expanding business overseas. China still faces distinct challenges, though, as the country’s post-COVID recovery remains weak.
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