Fitch Ratings has affirmed China Life’s IFS rating at 'A+' (Strong) and IDR of ‘A’, with the outlook remaining stable despite challenges in investment income.
COR increased to 103% in 2023 due primarily to rise in motor loss ratio, but support of Agricultural Bank of China and strong capital position underscore ratings affirmation.
AM Best maintains 'Stable' outlook for non-life market, spotlighting prospects for motor and health, which are balanced by economic and underwriting challenges.
Ratings of Bank of Communications' Hong Kong-based captive remain stable, with moderate revenue growth and strong capitalisation balancing high operating expenses.
AM Best spotlights AAGI's improvement in underwriting performance by year-end 2023, driven by increased scale benefits, cost management efforts, and lower acquisition expense ratio.
AM Best said long-term insurance line is likely to gain from efforts such as stricter underwriting practices and higher premium rates for medical indemnity policies.
