The first Asia Reinsurance Barometer, published today by the Qatar Financial Centre (QFC), finds that the region's reinsurance markets are still bustling with confidence.
Asia's strong economic growth is seen as the market's key attraction. Reinsurance exposure and premium growth is expected to outpace regional GDP growth.
Based on detailed interviews with reinsurance executives and intermediaries in the region, the barometer examines the current market opportunities, challenges and key trends in the $30 billion Asian non-life reinsurance market.
The executives polled see the region's economic and insurance growth momentum as its most relevant strength.
The report finds that the overall reinsurance business sentiment in Asia is positive.
Reinsurance markets are set to expand further on the back of population growth, low average insurance penetration and an accelerating pace of product innovation.
Shashank Srivastava, CEO of the QFC, said: "Asia is one of the fastest growing reinsurance markets in the world and a strategic priority for any aspiring international reinsurer. Given the ever-closer economic ties between Qatar and Asia, it was only natural for the QFC Authority to extend its proven Barometer survey to the Asian reinsurance marketplace."
