Marine hull premiums rose by double digits across both onshore and offshore business, with offshore underwriting profits seeing a 167% rise, as claims fell.
Although North America and Europe dominate the cyber insurance market, Swiss Re noted that there is significant potential for future growth in the Asia Pacific Region.
FWD’s new issuance comes after its Hong Kong IPO in July, with proceeds aimed at reducing funding costs and supporting capital strength as profitability improves.
John Lee outlined plans to mobilise insurer capital for infrastructure, establish a marine risk pool, and boost insurance innovation in emerging sectors.
