Investments led to wider operating deficit, but Fitch maintained rating due to reduction in underwriting deficit, strong capital, and continued support from its parent company.
Beijing experienced its worst rainfall for 140 years and S&P Global Ratings warned P&C insurers to anticipate increased demand amidst an underwriting hit.
In June, the FSA instructed major Japanese insurers to investigate "cartel" behaviour over contracts supplied to railway operator Tokyu; the latest report suggests price fixing could be a more widespread...
The credit rating agency revised the outlook from stable to negative, citing concerns over domestic insurers' increased exposure to NatCats due to reinsurance access difficulties.
Fires involving Li-ion batteries are more dangerous and can lead to huge losses - and the insurance and shipping sectors are grappling how to deal with the issue.
Fitch acknowledge the Qingdao-based insurer's strong risk-based capitalisation, but highlighted its short profit record and need for better reinsurance arrangements.
