Market Overview

The Asia-Pacific car insurance market represents one of the most dynamic and rapidly evolving segments within the global automotive insurance landscape. This comprehensive market encompasses diverse economies ranging from developed nations like Japan and Australia to emerging markets including India, China, and Southeast Asian countries. Market dynamics in this region are characterized by increasing vehicle ownership, evolving regulatory frameworks, and growing consumer awareness about insurance protection.

Regional growth patterns demonstrate significant expansion potential, with the market experiencing robust development driven by rising disposable incomes and urbanization trends. The Asia-Pacific region accounts for approximately 42% of global vehicle sales, creating substantial demand for comprehensive insurance coverage. Digital transformation initiatives across the region are revolutionizing traditional insurance distribution models, enabling insurers to reach previously underserved markets through innovative technology platforms.

Regulatory environments vary significantly across Asia-Pacific countries, with some markets maintaining mandatory insurance requirements while others operate under voluntary frameworks. This diversity creates unique opportunities for insurers to develop tailored products that address specific regional needs and compliance requirements. Consumer behavior patterns show increasing sophistication in insurance purchasing decisions, with customers demanding more personalized coverage options and streamlined claims processing experiences.

Meaning

The Asia-Pacific car insurance market refers to the comprehensive ecosystem of automotive insurance products, services, and distribution channels operating across the diverse economies of the Asia-Pacific region. This market encompasses traditional motor insurance policies, comprehensive coverage plans, third-party liability insurance, and emerging usage-based insurance products designed to protect vehicle owners against financial losses from accidents, theft, and other covered perils.

Market participants include established international insurers, regional insurance companies, direct-to-consumer platforms, and innovative insurtech startups leveraging technology to transform traditional insurance delivery models. The market serves diverse customer segments ranging from individual vehicle owners to commercial fleet operators, each requiring specialized coverage solutions tailored to their specific risk profiles and operational requirements.

Product categories within this market span comprehensive motor insurance, third-party liability coverage, collision and comprehensive policies, gap insurance, and emerging telematics-based insurance products. Distribution channels include traditional agent networks, direct sales platforms, online marketplaces, and mobile applications that enable customers to compare policies, purchase coverage, and manage claims through digital interfaces.

Executive Summary

Strategic market positioning within the Asia-Pacific car insurance sector reveals significant growth opportunities driven by expanding vehicle ownership, regulatory modernization, and technological innovation. The market demonstrates remarkable resilience and adaptability, with insurers successfully navigating diverse regulatory environments while developing products that address evolving consumer expectations and risk management requirements.

Key performance indicators highlight the market’s robust expansion trajectory, with penetration rates showing steady improvement across emerging economies. Digital adoption rates have accelerated significantly, with approximately 68% of new policies now involving some form of digital interaction during the purchase or servicing process. This technological transformation is reshaping competitive dynamics and enabling insurers to achieve improved operational efficiency while enhancing customer experience.

Market consolidation trends indicate increasing collaboration between traditional insurers and technology companies, creating hybrid business models that combine insurance expertise with advanced analytics capabilities. Regulatory harmonization efforts across several Asia-Pacific markets are creating opportunities for cross-border expansion and standardized product offerings, while maintaining flexibility for local market customization.

Future growth prospects remain highly favorable, supported by continuing urbanization, rising middle-class populations, and increasing awareness of insurance benefits. The market is positioned to benefit from emerging trends including electric vehicle adoption, autonomous driving technologies, and evolving mobility patterns that will require innovative insurance solutions.

Key Market Insights

Market intelligence reveals several critical insights that define the current landscape and future trajectory of the Asia-Pacific car insurance market:

1. Digital Transformation Acceleration: Technology adoption has fundamentally altered customer expectations, with mobile-first strategies becoming essential for market competitiveness
2. Regulatory Evolution: Government initiatives promoting insurance penetration are creating standardized frameworks that facilitate market expansion
3. Customer Segmentation Sophistication: Advanced analytics enable personalized pricing models that better reflect individual risk profiles
4. Distribution Channel Diversification: Multi-channel approaches combining traditional and digital touchpoints optimize market reach
5. Product Innovation Focus: Usage-based insurance and telematics-enabled policies address changing mobility patterns
6. Claims Processing Enhancement: Artificial intelligence and automated systems reduce settlement times and improve customer satisfaction
7. Partnership Ecosystem Development: Strategic alliances with automotive manufacturers and technology providers create competitive advantages
8. Sustainability Integration: Environmental considerations influence product development and corporate responsibility initiatives

Market maturity levels vary significantly across the region, with developed markets focusing on product sophistication while emerging markets prioritize accessibility and affordability. This diversity creates opportunities for insurers to leverage successful strategies across different market segments while adapting to local preferences and regulatory requirements.

Market Drivers

Primary growth drivers propelling the Asia-Pacific car insurance market forward encompass both macroeconomic factors and industry-specific developments that create sustained demand for automotive insurance products.

Economic prosperity across the region continues to drive vehicle ownership expansion, with rising disposable incomes enabling more consumers to purchase automobiles and seek comprehensive insurance protection. Urbanization trends contribute significantly to market growth, as city dwellers increasingly rely on personal transportation and face higher accident risks that necessitate insurance coverage.

Regulatory mandates in several Asia-Pacific countries require minimum insurance coverage for vehicle registration, creating a stable foundation for market demand. Government initiatives promoting financial inclusion and insurance awareness are expanding market reach into previously underserved segments, particularly in rural and semi-urban areas.

Technological advancement serves as a crucial market driver, enabling insurers to develop innovative products, streamline operations, and improve customer experiences. Smartphone penetration facilitates digital insurance distribution, while advanced analytics support more accurate risk assessment and pricing strategies.

Infrastructure development across the region, including highway expansion and urban transportation networks, increases vehicle usage and corresponding insurance needs. E-commerce growth drives demand for commercial vehicle insurance as delivery and logistics operations expand rapidly throughout Asia-Pacific markets.

Market Restraints

Significant challenges within the Asia-Pacific car insurance market create headwinds that insurers must navigate while pursuing growth objectives and market expansion strategies.

Price sensitivity among consumers, particularly in emerging markets, limits premium growth potential and constrains product development investments. Low insurance penetration rates in several countries reflect cultural attitudes toward risk management and limited awareness of insurance benefits, requiring substantial educational and marketing investments.

Regulatory complexity across diverse Asia-Pacific markets creates compliance challenges and increases operational costs for insurers seeking regional expansion. Fragmented regulatory frameworks require specialized expertise and localized approaches that can strain resources and limit economies of scale.

Fraudulent claims represent a persistent challenge, with some markets experiencing fraud rates that significantly impact profitability and necessitate substantial investment in detection and prevention systems. Infrastructure limitations in certain regions affect claims processing efficiency and customer service delivery capabilities.

Competitive intensity among established players and new market entrants creates pricing pressure and margin compression, particularly in mature markets where differentiation becomes increasingly difficult. Economic volatility and currency fluctuations can impact cross-border operations and investment returns for international insurers.

Market Opportunities

Emerging opportunities within the Asia-Pacific car insurance market present substantial potential for growth, innovation, and market expansion across diverse customer segments and geographic regions.

Digital insurance platforms offer unprecedented opportunities to reach underserved markets and streamline distribution processes. Insurtech partnerships enable traditional insurers to leverage cutting-edge technologies while maintaining regulatory compliance and customer trust. The integration of artificial intelligence and machine learning creates opportunities for enhanced risk assessment, fraud detection, and personalized customer experiences.

Electric vehicle adoption across the region creates demand for specialized insurance products that address unique risks and coverage requirements. Autonomous vehicle development presents long-term opportunities for innovative insurance models that adapt to changing liability frameworks and risk profiles.

Microinsurance products targeting low-income segments represent significant untapped market potential, particularly in emerging economies where traditional insurance products may be unaffordable. Usage-based insurance models appeal to cost-conscious consumers and enable more accurate risk pricing based on actual driving behavior and vehicle usage patterns.

Corporate fleet insurance opportunities expand as businesses increasingly rely on vehicle fleets for operations, delivery services, and employee transportation. Cross-selling opportunities with other insurance products and financial services create potential for increased customer lifetime value and market share expansion.

Market Dynamics

Complex market dynamics shape the competitive landscape and strategic decision-making within the Asia-Pacific car insurance sector, reflecting the interplay between regulatory changes, technological innovation, and evolving consumer preferences.

Competitive forces include traditional insurance companies, direct-to-consumer platforms, insurtech startups, and technology companies entering the insurance space. This diverse competitive landscape drives innovation while creating pricing pressure and the need for differentiated value propositions. Market consolidation trends indicate strategic acquisitions and partnerships as companies seek to achieve scale advantages and technological capabilities.

Customer expectations continue evolving toward digital-first experiences, transparent pricing, and streamlined claims processing. Omnichannel strategies become essential as customers expect seamless interactions across multiple touchpoints, from initial research through policy purchase and claims management.

Regulatory dynamics vary significantly across Asia-Pacific markets, with some countries implementing liberalization measures while others maintain strict oversight of pricing and product offerings. Data privacy regulations increasingly influence how insurers collect, process, and utilize customer information for underwriting and marketing purposes.

Technology integration accelerates across all market participants, with digital transformation initiatives showing approximately 78% adoption rates among major insurers. Blockchain technology and smart contracts present opportunities for improved transparency and automated claims processing, while telematics data enables more sophisticated risk assessment and personalized pricing models.

Research Methodology

Comprehensive research methodology employed in analyzing the Asia-Pacific car insurance market incorporates multiple data sources, analytical frameworks, and validation processes to ensure accuracy and reliability of market insights and projections.

Primary research activities include structured interviews with industry executives, regulatory officials, and market participants across key Asia-Pacific countries. Survey methodologies capture consumer preferences, purchasing behaviors, and satisfaction levels with current insurance products and services. Focus groups provide qualitative insights into emerging trends and unmet customer needs.

Secondary research sources encompass regulatory filings, industry reports, company financial statements, and government statistics from relevant Asia-Pacific markets. Market data validation processes cross-reference multiple sources to ensure consistency and accuracy of quantitative findings and market projections.

Analytical frameworks include competitive positioning analysis, market segmentation studies, and trend identification methodologies. Statistical modeling techniques support market sizing estimates and growth projections, while scenario analysis evaluates potential market developments under different economic and regulatory conditions.

Expert consultation with industry specialists, academic researchers, and regulatory experts provides additional validation and context for research findings. Continuous monitoring of market developments ensures research conclusions remain current and relevant to evolving market conditions.

Regional Analysis

Regional market characteristics across the Asia-Pacific car insurance landscape reveal significant diversity in market maturity, regulatory frameworks, and growth potential, requiring tailored strategies for different geographic segments.

China represents the largest single market within the region, accounting for approximately 38% of regional premium volume. Market liberalization initiatives and increasing vehicle ownership drive substantial growth opportunities, while digital innovation transforms traditional distribution models. Regulatory reforms continue evolving to promote competition and consumer protection.

Japan maintains a mature market characterized by sophisticated products and high penetration rates. Aging demographics and changing mobility patterns create opportunities for innovative insurance solutions, while established insurers focus on operational efficiency and customer retention strategies.

India demonstrates exceptional growth potential with rapidly expanding vehicle ownership and increasing insurance awareness. Digital payment systems and mobile technology adoption facilitate market expansion into rural and semi-urban areas previously underserved by traditional distribution channels.

Southeast Asian markets including Thailand, Indonesia, Malaysia, and the Philippines show strong growth trajectories supported by economic development and urbanization trends. Regulatory harmonization efforts within ASEAN create opportunities for regional expansion strategies and standardized product offerings.

Australia and New Zealand represent mature markets with sophisticated regulatory frameworks and high consumer expectations for service quality and product innovation. Climate change considerations increasingly influence product development and risk assessment methodologies.

Competitive Landscape

Market competition within the Asia-Pacific car insurance sector encompasses diverse participants ranging from established multinational insurers to innovative technology-driven startups, creating a dynamic competitive environment that drives innovation and customer value creation.

1. Ping An Insurance – Leading Chinese insurer leveraging advanced technology and comprehensive digital platforms to serve millions of customers across multiple product lines
2. MSIG Insurance – Regional specialist with strong presence across Southeast Asian markets, focusing on localized products and distribution strategies
3. Tokio Marine Holdings – Japanese multinational with extensive Asia-Pacific operations and expertise in sophisticated risk management solutions
4. Allianz SE – Global insurance leader with significant Asia-Pacific investments and innovative digital transformation initiatives
5. AXA Group – International insurer with strong regional presence and focus on sustainable insurance solutions and customer experience enhancement
6. Zurich Insurance Group – Swiss-based multinational with comprehensive Asia-Pacific operations and expertise in commercial and personal lines insurance
7. QBE Insurance Group – Australian insurer with regional leadership in commercial insurance and strong capabilities in risk assessment and management
8. Great Eastern Holdings – Malaysian-based regional insurer with extensive distribution networks and focus on emerging market development

Competitive strategies emphasize digital transformation, customer experience enhancement, and product innovation to differentiate offerings in increasingly crowded markets. Technology partnerships with insurtech companies enable established players to accelerate innovation while maintaining regulatory compliance and operational stability.

Market positioning varies significantly, with some companies focusing on premium segments while others target mass market opportunities through simplified products and digital distribution channels. Strategic acquisitions and joint ventures facilitate market entry and capability enhancement across the diverse Asia-Pacific landscape.

Segmentation

Market segmentation within the Asia-Pacific car insurance sector reflects diverse customer needs, vehicle types, and coverage requirements that drive product development and distribution strategies across the region.

By Coverage Type:

• Comprehensive Insurance: Full coverage including collision, theft, and third-party liability, representing the premium segment with highest customer value
• Third-Party Liability: Mandatory coverage in many markets providing basic protection and serving as entry-level insurance option
• Collision Coverage: Specialized protection against accident damage often purchased as supplementary coverage
• Gap Insurance: Coverage for financing shortfalls particularly relevant for new vehicle purchases

By Vehicle Type:

• Private Cars: Individual vehicle insurance representing the largest market segment across all Asia-Pacific countries
• Commercial Vehicles: Fleet and business vehicle coverage with specialized risk profiles and coverage requirements
• Motorcycles: Significant segment in many Asian markets with unique risk characteristics and pricing considerations
• Electric Vehicles: Emerging segment requiring specialized coverage for battery and technology components

By Distribution Channel:

• Agent Networks: Traditional distribution maintaining strong market presence particularly in relationship-focused cultures
• Direct Sales: Company-owned channels providing cost advantages and direct customer relationships
• Online Platforms: Digital distribution growing rapidly with convenience benefits and price transparency
• Bancassurance: Bank partnerships leveraging existing customer relationships and distribution infrastructure

Category-wise Insights

Comprehensive analysis of market categories reveals distinct characteristics, growth patterns, and strategic considerations that influence competitive positioning and investment priorities within the Asia-Pacific car insurance market.

Personal Lines Insurance dominates market volume, driven by expanding middle-class populations and increasing vehicle ownership rates. Customer acquisition costs vary significantly across markets, with digital channels showing approximately 35% lower costs compared to traditional agent-based distribution. Product standardization efforts balance regulatory compliance with customer customization needs.

Commercial Insurance segments demonstrate higher profitability potential but require specialized expertise in risk assessment and claims management. Fleet management integration creates opportunities for value-added services and customer retention. Telematics adoption in commercial segments shows strong growth with approximately 52% penetration rates among large fleet operators.

Usage-Based Insurance represents the fastest-growing category, appealing to cost-conscious consumers and enabling more accurate risk pricing. Data privacy considerations influence customer acceptance rates and require careful balance between personalization benefits and privacy protection. Behavioral modification through telematics feedback shows measurable improvements in driving safety.

Microinsurance Products address underserved market segments with simplified coverage and affordable pricing structures. Mobile payment integration facilitates premium collection and policy management in markets with limited banking infrastructure. Partnership strategies with mobile network operators and financial service providers expand market reach effectively.

Key Benefits for Industry Participants and Stakeholders

Stakeholder benefits within the Asia-Pacific car insurance market create value for diverse participants while contributing to overall market development and customer protection objectives.

For Insurance Companies:

• Market Expansion Opportunities: Access to rapidly growing economies with increasing insurance penetration and customer sophistication
• Technology Integration Benefits: Digital transformation enables operational efficiency gains and enhanced customer experiences
• Risk Diversification: Geographic and product diversification across multiple markets reduces concentration risk
• Innovation Potential: Emerging technologies create opportunities for product differentiation and competitive advantages

For Consumers:

• Enhanced Protection: Comprehensive coverage options protect against financial losses from vehicle-related incidents
• Improved Accessibility: Digital platforms and simplified products increase insurance availability across diverse market segments
• Competitive Pricing: Market competition drives affordable premium options and value-added services
• Service Innovation: Technology adoption improves claims processing and customer service experiences

For Regulatory Bodies:

• Market Development: Insurance expansion contributes to financial system stability and consumer protection
• Economic Benefits: Industry growth supports employment creation and tax revenue generation
• Risk Management: Improved insurance penetration reduces social costs of uninsured vehicle accidents

SWOT Analysis

Strategic analysis of the Asia-Pacific car insurance market reveals critical strengths, weaknesses, opportunities, and threats that influence market dynamics and competitive positioning.

Strengths:

• Market Size and Growth: Large population base and expanding middle class create substantial market potential
• Technology Adoption: Rapid digital transformation enables innovative product development and distribution efficiency
• Regulatory Support: Government initiatives promoting financial inclusion support market expansion
• Diverse Opportunities: Multiple market segments and geographic regions provide diversification benefits

Weaknesses:

• Low Penetration Rates: Many markets show limited insurance awareness requiring substantial educational investments
• Regulatory Complexity: Diverse regulatory frameworks create compliance challenges and operational complexity
• Infrastructure Limitations: Some regions lack adequate technological infrastructure for digital insurance delivery
• Price Sensitivity: Cost-conscious consumers limit premium growth potential in emerging markets

Opportunities:

• Digital Transformation: Technology adoption creates opportunities for operational efficiency and customer experience enhancement
• Product Innovation: Emerging vehicle technologies require specialized insurance solutions and coverage options
• Market Expansion: Underserved segments and geographic regions present significant growth potential
• Partnership Development: Strategic alliances with technology companies and automotive manufacturers create competitive advantages

Threats:

• Intense Competition: Market saturation and new entrants create pricing pressure and margin compression
• Economic Volatility: Regional economic instability affects consumer spending and insurance demand
• Regulatory Changes: Policy modifications can impact market dynamics and operational requirements
• Technology Disruption: Rapid technological change requires continuous investment and adaptation

Market Key Trends

Emerging trends within the Asia-Pacific car insurance market reflect evolving consumer preferences, technological advancement, and regulatory developments that shape future market direction and competitive strategies.

Digital-First Customer Experience has become a fundamental expectation, with insurers investing heavily in mobile applications, online platforms, and automated customer service capabilities. Artificial intelligence integration enables personalized product recommendations and streamlined claims processing, while chatbots and virtual assistants provide 24/7 customer support across multiple languages.

Usage-Based Insurance Adoption accelerates as consumers seek more personalized pricing based on actual driving behavior and vehicle usage patterns. Telematics technology advancement enables real-time risk assessment and behavioral feedback, with adoption rates reaching approximately 31% among new policies in several developed markets.

Sustainability Focus influences product development and corporate strategies, with insurers developing specialized coverage for electric vehicles and implementing environmental considerations in risk assessment. Green insurance products appeal to environmentally conscious consumers while supporting broader sustainability objectives.

Ecosystem Integration creates comprehensive service offerings beyond traditional insurance coverage, including roadside assistance, vehicle maintenance services, and mobility solutions. Partnership strategies with automotive manufacturers, technology companies, and service providers enable insurers to offer integrated value propositions.

Regulatory Technology adoption streamlines compliance processes and enables more efficient regulatory reporting across diverse Asia-Pacific markets. Automated compliance systems reduce operational costs while ensuring adherence to evolving regulatory requirements.

Key Industry Developments

Significant industry developments across the Asia-Pacific car insurance market demonstrate the dynamic nature of competitive positioning, regulatory evolution, and technological innovation that influence market trajectory and strategic decision-making.

Regulatory Modernization initiatives across several countries have introduced liberalized pricing frameworks and enhanced consumer protection measures. Cross-border regulatory cooperation within ASEAN creates opportunities for standardized products and regional expansion strategies, while maintaining flexibility for local market customization.

Technology Partnership Announcements between traditional insurers and insurtech companies accelerate digital transformation and innovation capabilities. Artificial intelligence implementation in claims processing and underwriting shows measurable improvements in operational efficiency and customer satisfaction scores.

Market Consolidation Activities include strategic acquisitions and joint ventures that enhance market position and technological capabilities. Cross-border investments by established insurers facilitate market entry and expansion across diverse Asia-Pacific economies.

Product Innovation Launches address emerging customer needs and vehicle technologies, including specialized coverage for electric vehicles, autonomous driving features, and shared mobility services. Microinsurance product development expands market reach into previously underserved segments with simplified coverage options and affordable pricing structures.

Digital Platform Enhancements improve customer experience and operational efficiency, with several major insurers reporting significant improvements in customer acquisition costs and policy administration efficiency through technology investments.

Analyst Suggestions

Strategic recommendations for market participants in the Asia-Pacific car insurance sector focus on leveraging growth opportunities while addressing competitive challenges and regulatory requirements across diverse markets.

Digital Transformation Acceleration should remain a top priority, with insurers investing in comprehensive technology platforms that enable seamless customer experiences across all touchpoints. Mobile-first strategies become essential as smartphone penetration continues expanding across the region, particularly in emerging markets where mobile devices serve as primary internet access points.

Market Segmentation Refinement enables more targeted product development and marketing strategies that address specific customer needs and preferences. Data analytics capabilities should be enhanced to support personalized pricing, risk assessment, and customer retention initiatives that drive competitive differentiation.

Partnership Strategy Development with technology companies, automotive manufacturers, and distribution partners creates opportunities for market expansion and capability enhancement. Ecosystem integration through strategic alliances enables comprehensive service offerings that extend beyond traditional insurance coverage.

Regulatory Compliance Excellence requires dedicated resources and expertise to navigate diverse regulatory environments while maintaining operational efficiency. Proactive engagement with regulatory authorities supports market development and ensures alignment with evolving policy objectives.

Innovation Investment in emerging technologies and product development maintains competitive positioning and addresses evolving customer expectations. Continuous market research and customer feedback integration ensure product offerings remain relevant and valuable to target segments.

Future Outlook

Future market prospects for the Asia-Pacific car insurance sector remain highly favorable, supported by continuing economic development, technological advancement, and evolving consumer preferences that create sustained growth opportunities across diverse market segments.

Market expansion potential continues driven by increasing vehicle ownership, urbanization trends, and rising disposable incomes across emerging Asia-Pacific economies. Insurance penetration rates are projected to improve significantly, with several markets expected to achieve double-digit growth rates over the medium term as awareness and accessibility increase.

Technology integration will fundamentally transform market dynamics, with artificial intelligence, blockchain, and Internet of Things technologies enabling new product categories and service delivery models. Autonomous vehicle development presents long-term opportunities for innovative insurance solutions that address changing liability frameworks and risk profiles.

Regulatory evolution toward greater harmonization and consumer protection will create opportunities for regional expansion and standardized product offerings. MarkWide Research analysis indicates that regulatory modernization initiatives will support market development while maintaining appropriate consumer safeguards and competitive dynamics.

Sustainability considerations will increasingly influence product development, investment strategies, and corporate positioning as environmental awareness grows across the region. Electric vehicle adoption and climate change adaptation requirements will drive demand for specialized insurance products and risk management solutions.

Customer expectations will continue evolving toward more personalized, convenient, and transparent insurance experiences, requiring ongoing investment in technology and service delivery capabilities. Digital-native generations entering the market will demand seamless integration between insurance and broader mobility ecosystems.

Conclusion

The Asia-Pacific car insurance market represents one of the most dynamic and promising sectors within the global insurance landscape, characterized by substantial growth potential, technological innovation, and evolving customer expectations that create opportunities for market participants willing to adapt and invest in future capabilities.

Market fundamentals remain strong, supported by expanding vehicle ownership, regulatory modernization, and increasing insurance awareness across diverse economies. Digital transformation initiatives continue reshaping competitive dynamics while enabling improved operational efficiency and customer experience delivery that drives market expansion and customer retention.

Strategic success in this market requires comprehensive understanding of regional diversity, regulatory complexity, and customer preferences that vary significantly across different Asia-Pacific countries. Technology integration, partnership development, and product innovation emerge as critical success factors for insurers seeking to establish or expand their regional presence.

Future growth prospects remain highly favorable, with emerging trends including electric vehicle adoption, usage-based insurance, and ecosystem integration creating new opportunities for value creation and competitive differentiation. Market participants that successfully navigate regulatory requirements while delivering innovative, customer-centric solutions are positioned to capture significant value from this expanding market opportunity across the Asia-Pacific region.