Mandatory core capital rule from January 2027 targets heavy hybrid use, raising refinancing pressure, but is viewed as credit positive with limited near-term ratings impact.
The regulator is sharpening its focus on affordability and long-term resilience as insurers face mounting cost pressures from natural disasters, inflation, and limited reinsurance capacity.
The rating agency said recent insurance regulatory changes will influence solvency positions, distribution models and reinsurance dynamics, with China, South Korea and Australia setting the pace in As...
