Asia-Pacific insurance market sees growth in on-demand and cyber sectors

The Asia-Pacific insurance landscape is undergoing significant shifts driven by technological integration and evolving risk profiles. The global on-demand insurance market is projected to grow from $6.85 billion in 2025 to $24.60 billion by 2035, with the Asia-Pacific region expected to see the fastest growth. China accounted for 38.60% of regional revenue in 2025, while India and Southeast Asia are expanding through e-commerce and ride-hailing integrations.

In specific corporate developments, Cathay Century Insurance reported an adjusted surplus of $2.8 billion at the end of 2025, maintaining its strongest capital rating from AM Best despite expanding underwriting and investment risks. Meanwhile, COSCO SHIPPING Captive Insurance Co., Ltd. reported marginal net underwriting losses due to a small net earned premium base, though it maintains a strong balance sheet and has generated positive annual earnings since 2017.

Additionally, rising cyber threats are expected to decelerate the softening of the APAC cyber insurance market as brokers and underwriters address current sector economics. The growth of the on-demand sector is being fueled by the gig economy, smartphone usage, and telematics, with travel insurance and embedded insurance identified as high-growth segments.