Fitch affirmed ABCI's ratings, but noted the Hong Kong-based insurer remains heavily dependent on reinsurance and parental backing, despite recent gains.
The rating agency expects margins to weaken in 2026 as abundant capacity and softer rates erode underwriting profitability, though capitalisation will remain strong.
The rating agency also revised the outlook to stable, from positive, with the Chinese health insurer demonstrating a very strong balance sheet and steady investment income.
The review follows parent company Sompo Holdings' US$3.5bn bid to acquire Aspen Insurance, with potential benefits for Sompo Japan's global footprint and specialty (re)insurance profile.
