China improves resilience against natural catastrophes

A report by Swiss Re Institute said that China is increasing its resilience against natural catastrophes, with the government and insurers taking collaborative measures to boost awareness around protection against natural disasters, and mitigate widespread damages, Reinsurance News reported. China’s national natural catastrophe resilience index reached 9% in 2021, up from 8.1% in 2020, with the improvement reflecting expansion of the Chinese nonlife insurance market and steady growth in the commercial property insurance line.