In this article from Intelligent Insurer, Guy Carpenter’s Danny Yeung, Managing Director, discusses how risk mitigation is key for Asian markets to combat growing climate risks and reduce coverage gaps.
“Asia is the world’s most disaster-prone region, with various weather, climate and water-related hazards,” Danny explained. “Navigating this dynamic environment will require insurers to optimize capital, manage volatility and protect earnings in the face of these emerging risks.”
As the reinsurance industry prepares for the January 1, 2025, renewals, Danny anticipates the demand for property-catastrophe limits will increase, as cedents seek to mitigate these risks.
“This elevated demand will be met, provided that pricing and capacity remain in balance,” she said.