Premium income and new annuity sales strengthen even as rising policy surrenders, bond yield pressures, and higher operating expenses weigh on the sector.
War-risk terms have tightened across shipping and aviation, with P&I clubs cutting Gulf liability limits and insurers reassessing cover amid route disruption.
The Italian-headquartered insurer posted a record €8bn operating result globally, with Asia life business outpacing every other region in terms of growth.
