The Indonesian reinsurer's risk-based capital ratio fell to 163% at end-2025 from 228% a year earlier, with Fitch also assigning a negative outlook following the ratings downgrade.
The upgrade reflects the insurer's strong capitalisation, resilient operating performance, conservative reinsurance, and ownership ties to the Henan provincial government.
Despite headwinds from interest rate normalisation and yen depreciation pressures, Japanese life insurers continue to demonstrate sound fundamentals and broadly stable premium levels.
The ratings agency has signalled a potential upside for ClearView on account of the acquisition likely enhancing Zurich’s competitiveness in the advised retail life channel, where ClearView maintains a...
S&P said it expects Tokio Marine to continue expanding internationally through acquisitions and organic growth, while also increasing the share of investment assets held outside Japan.
