The Hong Kong insurer’s steady expansion across key non-life segments and capital support from its parent underpin improved performance and balance sheet strength.
The agency also said it will set K-ICS ratio regulations within the year and review surrender value reserve rules to reinforce capital quality and solvency oversight.
The draft regulations, open for a 60-day public consultation, outline new governance and contract management requirements for insurers' outsourced operations.
The industry body says procedural reform and consistent national rules are needed to tackle rising legal costs and restore public liability market stability.
