Reinsurers and life firms face the biggest impact of an accounting change which moves the industry away from relying on Gross Written Premiums as a way of reporting revenue.
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.
Chairman Stephen Yiu says IA is committed to enhancing prudential frameworks, focusing on RBC and group-wide supervision to attract more business and investment to Hong Kong.
