SGI's combined ratio averaged 89% between 2023 and H1 2026, with underwriting performance expected to normalise as the insurer tightens its underwriting rules and reduces high-risk exposure.
The insurer is pursuing lower-cost online motor distribution and measured international expansion to diversify earnings and support long-term growth, AM Best noted.
Higher motor claims and reserve strengthening weakened underwriting performance in 2025, but strong investment returns and capital buffers are expected to support the insurer's credit profile.
The insurer's combined ratio fell to 98% in Q3 2026, supported by cautious risk selection in high-loss non-motor segments and tighter expense control as scale expanded.
The agency said TransGlobe Life's improving earnings and capital profile supported the removal of its Rating Watch Negative and provided a stronger buffer against further Taiwan dollar appreciation.
Pricing, claims management and operating efficiency have narrowed the insurer’s underwriting losses, and growing scale should help it sustain profitability from 2028.
