As operators assume greater responsibility for power infrastructure, insurers face new questions around batteries, construction, curtailment and BI coverage.
Fitch expects the exposure to ease once the arm merges with sister company Acenda Life, which runs a lower-risk portfolio, with the merger creating Australia's fourth-largest life insurer.
AXA, BOC Group Life, FWD, HSBC Life and Manulife sit among 30 institutions involved in 36 use cases selected from nearly 100 proposals, in a cohort now spanning banking, securities, insurance and MPF.
Mainland China earnings came under pressure from bancassurance reforms and a greater reliance on participating products, but growth elsewhere lifted group profitability.
Designed for tunnel owners, developers and contractors, the cover funds specialist rescue and crisis-response operations following major underground incidents.
