Rated Asia-Pacific reinsurers are poised to experience stable credit trends, bolstered by strong earnings and robust capitalization. Asia-Pacific continues to present an attractive growth narrative, ensuring sustained reinsurance capacity. We expect easing premium rates and organic demand to drive topline growth. However, challenges are emerging, including rising physical risks, a slower economic outlook, and costly retrocession cover, which may increase margin volatility. Additionally, softer investment returns necessitate heightened underwriting discipline as monetary policy eases, while unexpected insurance claims and capital market fluctuations could affect capital strength.