Ratings agency added that rising capital levels and stable investment income are sustaining strong capacity, driving competition, and fueling continued rate softening across APAC markets.
Regulator has kept KWI Life under close watch due to concerns about its financial stability, but notes the insurer has made progress by raising its capital.
The rating agency expects margins to weaken in 2026 as abundant capacity and softer rates erode underwriting profitability, though capitalisation will remain strong.
