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.
The Australian insurer has also set a new supply chain engagement goal, while its FY26 annual report shows community investment rose 22% to A$10.8m (US$7.6m).
Moody's expects premium growth to return to a healthy single-digit rate in 2027 as stable bond yields and stronger contractual service margin growth support profitability.
S&P said Peak Re's shift away from property catastrophe risks has improved underwriting performance, though sustainable growth remains critical to the strategy's success.
Ping An P&C’s new energy vehicle insurance premiums climbed 21.2%, faster than the 16.1% it reported for Q1, while total premium income rose 3.5% to 265.22bn yuan (US$39.78bn).
Diversification into other marine lines has helped some clubs improve underwriting results, but persistent deficits are expected to drive further upward pressure on 2027 renewals.
The Hong Kong insurer posted its fifth consecutive underwriting profit in 2025 and a double-digit return on equity, while its risk-adjusted capitalisation stayed at the strongest level.
The credit ratings agency expects the insurer to further strengthen its capital position through underwriting and capital growth as the insurer expands overseas with the acquisition of Vietnam-based MVI...
