Global reinsurers are confident about opportunities in the Asia-Pacific region and remain interested in doing business there despite this year’s catastrophe losses, according to a survey from Lloyd’s.

The London-based market interviewed more than 270 industry figures attending the Singapore International Reinsurance Conference this month and found 95% of them either confident or very confident about doing business in the region.

More than 60% of the respondents cited continued economic growth as the key reason for operating in the region, naming the large population (17%), supportive regulation (9%), and the strength of its infrastructure (8%) as other drawcards.

The respondents said barriers to expansion include increasing regulation (19%), political instability (17%) and access to expertise and knowledge (16%).

Lloyd’s Asia MD Kent Chaplin says the result is not surprising given the strong growth forecasts for Asian countries such as China, Indonesia and Singapore.