The specialised practice aims to tackle the increasing challenges of cyber liability, regulatory scrutiny, and data governance for technology companies.
AM Best spotlights AAGI's improvement in underwriting performance by year-end 2023, driven by increased scale benefits, cost management efforts, and lower acquisition expense ratio.
Reinsurers and life firms face the biggest impact of an accounting change which moves the industry away from relying on Gross Written Premiums as a way of reporting revenue.
AM Best said long-term insurance line is likely to gain from efforts such as stricter underwriting practices and higher premium rates for medical indemnity policies.
Chairman Stephen Yiu says IA is committed to enhancing prudential frameworks, focusing on RBC and group-wide supervision to attract more business and investment to Hong Kong.
High-quality new capacity is set to continue to enter Australasia's construction insurance market in the latter half of 2024 and the early months of 2025.
