Decline follows lower MGA volumes, with management focused on reducing volatility in both the domestic nonvoluntary cession and overseas business segments.
Fitch said policy surrender rates for KGI Life, Fubon Life, Nan Shan Life, Taiwan Life, and Cathay Life have remained stable, and that the insurers have taken steps to address currency risk.
Despite a sharp drop in market share and competitive pressures, Helia’s capital, earnings, and strategy remain supportive of the rating in the near term.
