Profitable commercial and industrial lines lead to 92.7% COR in 2023, thought insurer has a heavy reliance on reinsurance to manage large commercial property, engineering, and energy risks.
Hollard has 'Excellent' ratings affirmed before withdrawal, with AM Best spotlighting likely moderation in premium growth after a decade of significant expansion.
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.