“Today, the pandemic-related losses are largely manageable across APAC,” Bennett commented.
“One of the top risks on the horizon is asset volatility which has the potential to affect capital adequacy, and we still see this as a very high-risk factor.”
“The second highest risk is around claims, the highest profile types being business interruption claims and catastrophe claims,” he explained.
“Another risk is increased spending undertaken as a policy response to COVID-19 shutdowns, which can potentially affect credit quality, and that also feeds into the capital adequacy assessments that we undertake.”
Bennett noted that insurer sales have been affected by
