In the past five years, nearly 54% of losses from declared insurance events were due to floods, representing the disproportional nature of the 4.4% of properties at high risk.
PGA Sompo's five-year average COR of 52.2% contributes to rating upgrade, which were later withdrawn by the Filipino insurer's decision to discontinue participation in the ratings assessments.
Accident & health and property losses weigh heavily on Hong Kong's GI market in the first nine months of 2023, culminating in a HK$1.4 billion underwriting shortfall year-on-year.
Malaysia's Lonpac Insurance maintains 'A' ratings against the backdrop of a stable financial standing and adept navigation of post-pandemic claims surge.
Growth in health, agriculture, and resurgence in motor underpin AM Best's 'stable' outlook for China's non-life sector, but market faces drop in underwriting profit and slowing economy.
Addressing global insurance leaders at the Geneva Association Summit 50, Antonio Huertas stressed the importance of embracing AI responsibly, improving cyber resilience, and an insurance-led approach to...
