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.
Philippi maintains his MSIG Asia CEO role and has been named chief strategy officer alongside Keisuke Ema, with Norihiro Tanaka succeeding Tetsuya Adachi as chairman of MSIG Asia.
