An AM Best report shows financial market turbulence and an upswing in interest rates caused a historical decline in traditional reinsurance capital, while large Nat Cat losses led to reinsurers moving capital to primary and specialist lines of insurance.
The Indian Government has been providing capital funding to public-sector insurers due to concerns about meeting solvency margins.
The Australian regulator initiated civil proceedings against IAL and IMA for allegedly misleading customers about loyalty discounts on home insurance policies.