Frequent disasters drive reinsurance demand in Asia Pacific
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A report by U.K.-based analytics firm GlobalData PLC said that the growing frequency of natural disasters is driving the demand for reinsurance in the Asia Pacific region as insurers seek cover for such huge risks, 1asig.ro reported. Growing insurance markets, exposure to natural disasters and mandatory cession requirement in most countries are supporting the growth of reinsurance in Asia Pacific. India and China are among the fastest growing markets for both general and life insurance.
