The top reinsurance markets in the region are Japan, China, Australia, Hong Kong and South Korea, which held a collective 84% share of the Asia-Pacific market as of 2021. (Credit: PSboom/Shutterstock.com)
Over the last three decades, the Asia-Pacific region has experienced the highest number of Nat-Cat events of any spot on the globe, and a recent report from GlobalData shows that these natural hazards – which included flooding, drought, typhoons, earthquakes and heatwaves in 2022 alone – combined with inflation could hinder growth in the region's reinsurance market in 2023.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
