The facility, managed by Alliance Risk Transfer and backed by five founding insurance partners, seeks to help Hong Kong address shifting global marine war risk exposures.
Club is expecting a rise in premiums and improved COR for the current financial year, but said the "prudent" rate rise reflects ongoing claims volatility and geopolitical risk.
China captured the largest share of global cargo premiums and the second-largest in hull, lifting Asia-Pacific’s combined marine premiums to nearly one-third of the global total.
