Higher capital charges on the insurer's investments outpaced growth in its available capital, while cautious risk selection kept its agricultural book profitable.
The chief operating officer, who joined from Etiqa in 2019, takes charge on 1 October after running the insurer's bancassurance and financial adviser channels.
Formerly of Tokio Marine, Hata leads the renamed EMIS Insurance Services, which offers personal lines cover to group employees and affiliated companies and risk consulting to corporate clients.
Domestic systemically important insurers would need larger boards, while insurers with less retail reach or lower systemic importance would face fewer approvals.
