GlobalData’s ‘Motor Insurance Industry Outlook in Asia Pacific’ report provides a comprehensive overview of the Asia Pacific motor insurance industry.
This report provides market size of motor insurance industry in Asia Pacific region. Asia-Pacific was the fastest-growing region during the review period, recording growth at a CAGR of 2.7% during the review period (2016-2020)
China was the market leader accounting for 52.9% of the region’s motor insurance premiums in 2020. South Korea recorded the highest loss ratio in the region in 2020. The report provides details on the market size of motor insurance premiums for the 20 largest markets in the Asia Pacific region along with their profitability ratios
The rise of pure-play technologies has disrupted the motor insurance space, allowing automobile manufacturers to underwrite policies with the advantage of direct customer access. The report provides an insight into key trends, technology developments, and potential disruptors in the motor insurance industry
In Australia, new vehicle registrations faced a decline of 13.7% YoY in 2020, reflecting the direct impact of COVID-19 on consumer sentiment. The report discusses the impact of the COVID-19 on the industry as well as other challenges that impacted the motor insurance industry in the Asia Pacific region
The report provides comparative analysis of leading insurers in the region
The report throws light on the regulatory requirements in the region including licensing rules, capital requirements, taxation regime, and ownership quotas
The report also highlights recent M&As in the Motor insurance industry
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