'Stable' outlook driven by economic improvements and regulatory advancements, but concerns about higher risk retention and lack of agricultural reinsurance remain.
Insurance Commission increases CMVLI limits for third-party liability, death indemnity, and no-fault indemnity — while stipulating rates set in 2006 are to remain.
PGA Sompo's five-year average COR of 52.2% contributes to rating upgrade, which were later withdrawn by the Filipino insurer's decision to discontinue participation in the ratings assessments.
