Property and casualty insurance rates in the region fell 5% and 3% respectively, according to Marsh data, with financial and professional lines recording the steepest drop at 8%.
Button brings more than 20 years of experience in financial and professional lines underwriting, having held senior roles at Sura Professional Risks, Gallagher Re and Allianz Australia.
Phoenix Mills becomes the first Indian company to secure parametric trigger-based insurance to protect against pandemic- or epidemic-related business interruption losses.
The industry body says procedural reform and consistent national rules are needed to tackle rising legal costs and restore public liability market stability.
The insurer recorded a 9% return on equity in the first half of 2025, supported by fair-value gains that helped offset weaker recurring investment income.
