In this article from Insurance Asia News, Guy Carpenter’s Kitty Bao, Managing Director, Head of Analytics and Advisory, Asia Pacific, addresses how reinsurers in the Greater China region are focused on understanding and analyzing risk exposures and are increasingly investing in data collection.
Kitty also notes how there has been an increase in government-backed insurance programs to cover casualty and property losses.
“We have observed a gradual increase in the purchase of catastrophe protection, albeit limited by budgetary constraints. As a result, some companies have shifted up their programs accordingly,” she added. “While traditional catastrophe excess of loss cover remains prevalent, insurers are also exploring alternative solutions, such as multi-year covers and catastrophe bonds.”