90% decline in net income comes following significant reserve release in 2023 alongside slower topline growth, but Fitch projects profitability to normalise going forward.
Ratings for nine insurers—including China Life and PICC P&C—affirmed, but negative outlook reflects pressures from market volatility and potential weakening of state support.
The reinsurer posted a high Korea Insurance Capital Standards (K-ICS) ratio at 191.7% in 2024, indicating sufficient capacity to handle unexpected losses.
