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.
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 broker bolstered its Wellington team with the appointments of industry experts Felix Ukaegbu as general manager and James Earwaker as client director for financial lines.
Policyholders of Cigna, Great Eastern, HSBC Life, Income Insurance, Singlife and Tokio Marine among those affected by the attack on the third-party administrator.
More uninsured businesses are citing price and product scope as barriers to cyber cover, even as purchase intent rises and extortion attacks on small, non-US firms are expected to expand.
Waiting periods and covered-event triggers could limit recovery, while outsourced hosting arrangements open a route to professional liability and subrogation claims.
Oriental Insurance has reportedly been informed as SBI investigates the suspected breach and quantifies potential losses linked to customer data exposure.
Backed by double-digit revenue growth in 2026, PVI Insurance is partnering with one of Thailand's largest banks to support its expansion across Asia Pacific.
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.
