Singapore's domestic General Insurance GWP tops SG$5bn (US$3.7bn), but underwriting profits dip as country's two largest lines of business record losses.
But despite Australia's strong international performance, finance and insurance is second worst sector domestically, as insurance and superannuation gap widens in last three years.
GlobalData forecasts sector to grow by 7.3% CAGR to NZ$12.9bn (US$7.87bn) in 2028, but profitability to remain volatile due to nat cats and reinsurance rates.