The Shandong government-backed insurer expects its operating results to improve further over the next two years on disciplined underwriting and a conservative investment strategy.
AM Best assigned the single-parent captive an A- Financial Strength Rating and "a-" Long-Term Issuer Credit Rating, citing a balance sheet strength assessed as "very strong".
KIRI says a widening gap between driver expectations, insurer assessments, and review outcomes is driving higher dispute rates in Korea’s motor insurance market.
Industry underwriting profits jumped 34% year-on-year as property lines recovered from catastrophe losses, while cyber led premium growth and motor remained profitable.
