The expansion is expected to support Awbury's growth in Japan's credit and financial risk market while broadening access to locally issued cover for corporates and financial institutions.
The insurer has also offered wider home cover in northern Western Australia and pledged A$20m (US$14m) for community resilience as it seeks ACCC approval.
Industry experts expect future asset-intensive reinsurance (AIR) growth to hinge on access to third-party capacity, suitable matching assets and demonstrable risk transfer.
The survey found growing acceptance of AI in claims-related interactions, even as buyers remain cautious about using it to make insurance purchase decisions.
