Direct premiums rose steadily across major lines, while claims growth remained restrained, and fire claims fell, supporting a modest improvement in the loss ratio.
Despite the phased liberalisation of motor and fire pricing, AM Best notes that Lonpac’s robust capitalisation and stable performance continue to underpin its ratings.
The general insurance sector recorded a 13.2% year-on-year increase in premiums for September, driven predominantly by a 294% surge at the Agriculture Insurance Company of India.
The rating agency affirmed Taiwan's second-largest non-life insurer at A with a stable outlook, noting that its motor portfolio continues to support underwriting margins.
