Property Insurance Industry Outlook in Asia-Pacific in 2022

GlobalData’s ‘Property Insurance Industry Outlook in Asia Pacific in 2022’ report provides a comprehensive overview of the Asia Pacific property insurance industry.

• This report provides the market size of the property insurance industry in the Asia Pacific region

• Asia-Pacific was the fastest-growing region during the review period (2016-2020), recording growth at a CAGR of 9.0%

• The report provides details on the market size of property insurance premiums for the 20 largest markets in the Asia Pacific region along with their profitability ratios

• Japan is the largest market accounting for 30.5% of the region’s property insurance premiums in 2020. Bangladesh followed by Sri Lanka recorded the highest loss ratio in the region in 2020

• A challenging property market, along with severe natural catastrophe events, contributed to the growth of the specialty insurance market. The report provides an insight into key trends, the impact of climate change, technology developments, and potential disruptors in the property insurance industry

• The report discusses the impact of the COVID-19 on the industry as well as other challenges that impacted the property insurance industry in the Asia Pacific region. In Australia, the regulators agreed to file a test case regarding the application of infectious disease cover under business interruption policies. This is likely to add to the profitability challenges of commercial insurance products

•  The report provides a 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 property insurance industry