AM Best estimates the flooding in Hong Kong and the Pearl River Delta, caused by 1-in-500 year downpours, will result in losses similar to those caused by Typhoon Mangkhut — which could be billions of...
The Hong Kong headquartered insurer also saw a 50% increase in net profit, with results attributed to strong sales recovery in key markets and its bancassurance strategy.
Chinese insurers have spent over US$10bn building retirement communities, but new draft rules could see some excluded from the insurance-plus-service sector.
