Shipping firms face stricter underwriting terms and rising costs as marine insurers react to heightened conflict risk in the Gulf and surrounding waters.
Following a series of failed bids, Zurich has now agreed terms to create a specialty insurance business with about US$15bn in annual gross written premiums.
Despite headwinds from interest rate normalisation and yen depreciation pressures, Japanese life insurers continue to demonstrate sound fundamentals and broadly stable premium levels.
