AM Best maintains 'Stable' outlook, taking into account surge in foreign currency-denominated savings products, potentially higher domestic interest rates, and improved core profits.
Amid global macroeconomic challenges, Marsh reports that the APAC captive premiums it manages surged by 58% between 2020 and 2022, significantly outpacing other global regions.
Despite a spike in nat cat losses and financial market volatility, APAC reinsurers saw a 8.1% increase in new written P&C premiums in 2022 and are expected to have further growth.
AM Best maintains the financial strength rating of the largest P&C insurer in the Philippines, but downgrades credit rating due to escalated credit risk following disaster events and changes to its...
Despite some challenges in 2021 and 2022, AM Best awarded Chubb Life NZ's ratings thanks to factors including its diversified distribution approach and prudent underwriting management.
