Joanne Madrid is a reporter at (Re)in Asia, known for data features and analysis on how technology and climate are reshaping the region's insurance markets. Areas of specialty include insurtech and AI adoption, cyber and climate risk, and the premium and results data moving markets including India, Korea and Hong Kong.
Onshore underwriting profit rose nearly elevenfold from a low year-earlier base, led by pecuniary loss business, while offshore premiums grew 18.9% but underwriting turned negative.
Companies should map AI use, document controls and test incident plans as automated systems create exposures across cyber, liability and business interruption.
Industry experts expect future asset-intensive reinsurance (AIR) growth to hinge on access to third-party capacity, suitable matching assets and demonstrable risk transfer.
Fire and ISR, the largest unauthorised foreign insurer (UFI) class, led the decline with new or renewed premiums invoiced down 27.3%, based on APRA data.
Insurers see prediction markets as a source of data and a possible hedging tool rather than a rival, but regulation, settlement and data integrity remain obstacles in APAC.
