The region's insurers will need to navigate a combination of an influx of new capital rules and accountancy changes as they seek to invest their growing portfolios.
The insurer intends to source alpha by investing more in alternative assets, and is particularly looking buy up prime office properties in European cities as their prices fall further.
Insurers across the region will see premiums grow by €1.28 trillion, over half coming from China, said a new report by Allianz.
The island's bond ETF volumes have shot up over the past two years but they are likely to level off as new rules combine with less risk appetite among leading life insurers.
Life insurers in Korea are having to weigh how best to prepare for incoming new capital rules and accounting standards that could affect their asset portfolios.
Larger life insurance firms are likely to pursue private asset investing more assertively. Some think that they could look to structured equity products that hedge risk too.