Globally, we are seeing more extreme weather due to climate change. Extensive and fast-moving wildfires in 2022 caused loss of life and significant damage to property. The International Association of Insurance Supervisors has stated that climate change is a source of financial risk, and insurance regulators have introduced scenario analysis to help evaluate climate risk resilience. This paper provides an update on requirements by Asian regulators in 2022. The discussion includes: 

• Recent regulatory stress testing exercises for the insurance industry in Asia Pacific
• Stress test requirements of Asian regulators
• Where Asian insurers stand with their climate-related risk assessments