The insurer's combined ratio fell to 98% in Q3 2026, supported by cautious risk selection in high-loss non-motor segments and tighter expense control as scale expanded.
Bilal Zafar, formerly of Volante Global, will lead the unit, which will write treaty reinsurance across four lines with capacity from Fidelis Syndicates 3123 and 2126.
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.
Onshore underwriting profit rose nearly elevenfold from a low year-earlier base, led by pecuniary loss business, while offshore premiums grew 18.9% but underwriting turned negative.
Overall commercial insurance rates fell 6% for the region, according to Marsh, marking the region’s 11th consecutive quarter of decline amid ample capacity and strong insurer competition.
Marsh data shows that property and financial lines rate declines eased, but casualty and cyber pricing continued to soften as capacity remained abundant.
