Smith spoke at the Insurance Council of Australia's Annual 2023 Conference and emphasised importance of balance in the face of issues like cost-of-living pressures and natural catastrophes.
Singapore's top ten largest reinsurers saw underwriting profits more than double in 2022 as they tightened underwriting terms and lowered losses, amid economic and catastrophe-induced volatility.
FWD saw the value of new business hit US$482m, with the businesses' results boosted by the return of Chinese visitors to Hong Kong and Macau, strong bancassurance partnerships, and expanded agency presence...
The Hong Kong headquartered insurer also saw a 50% increase in net profit, with results attributed to strong sales recovery in key markets and its bancassurance strategy.