HONG KONG--()--Reduced frequency of large-scale catastrophes through November 2012 helped Asia-Pacific non-life insurers to slowly recover from losses inflicted by natural disasters in 2011, according to a new report from A.M. Best Co. The unprecedented severity of the 2011 disasters significantly eroded underwriting performance for domestic and regional insurers carrying offshore business, and changed practices both locally and internationally. Meanwhile, low interest rates give little boost to overall earnings and financial strength. Across the region, evolving regulation generally increases emphasis on insurers’ balance sheet strength, exacerbating already difficult operating conditions.
This report covers a number of markets in Asia. For the full, complimentary copy, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=207182.
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