1、Asia Pacific Insurance Sector O the regions Life and Non-Life M&A landscape 2022 KPMG Advisory(Hong Kong)Limited,a Hong Kong limited liability company and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited,a private English company li

2、mited by guarantee.All rights reserved.Asia Pacific Insurance Sector Opportunities2We are pleased to present this publication that gives an overview of the Insurance landscape in the Asia Pacific.Despite the macro and geopolitical headwinds,many Asia Pacific markets enjoyed double-digit growth in 20

3、21.And this growth outpaced that of the rest of the world,which means that insurance in Asia is becoming more important on a global basis.Emerging Asia Pacific markets historically had lower insurance density and penetration than developed Asia Pacific markets,but are expected to see higher growth r

4、ates for the next two years,supported by rising risk awareness,increasing wealth levels,an economic revival post COVID-19 and demographics.From an M&A perspective there are a number of things to consider:We have seen a surge in M&A in 2021 and naturally a decline of that again in 2022 given market u

5、ncertainties.Our recent Global CEO Outlook shows that insurance CEOs see M&A as a much less relevant strategy to achieve their growth objectives than they did before.1We see an ever-increasing need to build broader and deeper ecosystems in order to remain relevant for customers and to expand and inn

6、ovate distribution capability,especially in Asia.the product shift in favourof protection and health has led to an increasing number of acquisitions in InsurTech.Another important factor is the increasing opening up of Asian markets for majority-owned foreign investments,leading both incumbents and