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.
The rating agency said capital recovery driven by underwriting and investment gains kept Taiwanese insurer's position stable despite market volatility.
The system will require vessels to hold P&I cover from IG P&I Clubs, domestic insurers, or international carriers with a credit rating of at least BBB.
