The ratings were withdrawn following the announcement of the Guam-headquartered insurer's sale to Calvo Enterprises Inc. and TMPI's subsequent request to be excluded from the rating process.
The latest GlobalData report shows that 15 of the top 20 insurers reported growth in 2022 — led by Dai-ichi Life, T&D Holdings, and Hanwha Life Insurance.
AM Best's latest global reinsurance rankings saw China Re slip two places when measured by life and non-life GWP, while the Asia region's combined ratio continues to hover above 100%.
Insurance firms have raised 'war risk premiums' for vessels in Russia's Black Sea ports amid escalating tensions and reported attacks, adding to the country's overall oil export costs.
HDI recently expanded its Asia offering to include Political Risk and Credit and Graham Silton—MD for Singapore—says the group has plans for further regional expansion in 2024.