Taiwan, South Korea and Malaysia followed with declines of 15%, 13% and 10%, while Japan and Vietnam were the only markets to record increases, according to Marsh.
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.
Marsh data shows that property and financial lines rate declines eased, but casualty and cyber pricing continued to soften as capacity remained abundant.
Nasional Re, which accounted for 13% of reinsurance sector premiums in 2025, remains below the risk-based capital minimum with negative equity, while Indonesia’s seven other reinsurers report ratios above...
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.
