PNG and Fiji workshops follow MOU signed in Sep 2023 and will help support local development of parametric insurance for regional insurers, reinsurers, and central banks.
Singapore's domestic General Insurance GWP tops SG$5bn (US$3.7bn), but underwriting profits dip as country's two largest lines of business record losses.
Syndicate will be managed by Asta and focus on key growth areas, including liability, professional indemnity, accident and health, property, and travel insurance.
Sean Carmody acknowledged that reducing Australia's protection gap is a 'wicked problem', but he encouraged insurers to take ownership and find opportunities to make a difference.
