Industry expected to reach US$3.3bn by 2030 as vehicle sales surge, but insurers face mounting claims costs from natural disasters and increased traffic incidents.
Marine hull premiums rose by double digits across both onshore and offshore business, with offshore underwriting profits seeing a 167% rise, as claims fell.
Although North America and Europe dominate the cyber insurance market, Swiss Re noted that there is significant potential for future growth in the Asia Pacific Region.
