Following issue of negative outlook for China's government credit ratings, Moody's downgrades outlook for nine Chinese insurers, inclusive of two captives, plus one overseas subsidiary.
PGA Sompo's five-year average COR of 52.2% contributes to rating upgrade, which were later withdrawn by the Filipino insurer's decision to discontinue participation in the ratings assessments.
Malaysia's Lonpac Insurance maintains 'A' ratings against the backdrop of a stable financial standing and adept navigation of post-pandemic claims surge.
Fitch affirms PT Tugu Reasuransi Indonesia's National IFS Rating at 'A+(idn)', but notes volatility from its property and credit insurance segments — which have seen COR rise to 106% in the first nine...
GIC Re sees rating outlook upgraded to positive and a National Scale Rating designation of 'aaa.IN' (Exceptional), reflecting enhanced financial stability and enterprise risk management.
FY23 profit increase helps maintain strong ratings in face of weakening combined ratio, rising nat cat concerns, and possible impacts of the banking arm sale.
