The Hong Kong reinsurer paid its first dividend in 2025 and returned 12.3% on capital and surplus, though its non-life combined ratio rose on fluctuations in short-term health loss experience.
Strong underwriting results and investment income are expected to keep returns resilient despite growing competition, casualty reserve uncertainty and elevated catastrophe risk.
Commercial lines and higher sums insured are supporting premium growth, while conservative asset allocation is helping insurers absorb equity-market volatility.
The DFS review also called for stronger performance monitoring, wider digital adoption and improved customer grievance handling across the state-owned insurers.
