More than 80% of insurers have already met OJK's 2026 requirements, but experts say capital alone will not fix weak fundamentals as tougher 2028 rules loom.
Fire insurance led Japan's non-life market improvement in FY2025, as claims fell sharply despite continued premium growth across major commercial lines.
The Hong Kong subsidiary swung back to profit in 2024, with the ratings agency also pointing to the importance of its cross-border role linking mainland China and Hong Kong.
AM Best assigned the single-parent captive an A- Financial Strength Rating and "a-" Long-Term Issuer Credit Rating, citing a balance sheet strength assessed as "very strong".
Low insurance take-up should cap insured losses, but the event may add scrutiny to the net retention strategy cedents have pursued in response to rising reinsurance costs.
The Bangkok-based non-life reinsurer earns an aa+.TH national scale rating, though AM Best flagged exposure to heightened credit and liquidity risks from holdings in a sanctioned country.
