SINGAPORE, Sept 15 (Bernama-BUSINESS WIRE) — The challenges fromCOVID-19 continue to evolve for the Asia-Pacific reinsurance sector, with the related macroeconomic and investment impacts pressuring profitability, according to a new report from AM Best.
In its new Best’s Market Segment Report, “Global Reinsurers Maintain Equilibrium Through COVID-19 Turbulence,” AM Best notes that the Asia-Pacific region remains an important growth and diversification play for international reinsurers. The entrance of new domestic participants in the region and the increased capacity of international reinsurance players are among the key factors that have led to prolonged weak pricing trends.