The review found that seven out of 13 insurers asked for personal details without explaining their relevance, while five failed to give clear reasons when refusing cover.
The expansion is fueled by several factors, including elevated claims, medical inflation, an ageing population, and ongoing infrastructure investments.
Hong Kong’s insurance sector has introduced fast-track measures while pledging more than HK$100m (US$13m) to support those affected by the Wang Fuk Court fire.
AUB Group said its board viewed the A$45 per share offer as fair but confirmed talks ended after PE firms declined to make a binding offer at the proposed valuation.
This focus on catastrophe risk is also expected to fuel market expansion, with GWP forecast to grow at a CAGR of 11.5% through 2030 amid rising losses.
