Overall ratings affirmation and stand-alone credit profile upgrade to 'a+' come as the RAA Insurance deal lifts insurer to third in the country's property and casualty market.
The offering provides SMEs with bundled coverage tailored to their unique risk profiles, eliminating the need to purchase and manage multiple policies.
Grid constraints, curtailment and congestion were cited as a growing operational concern by 85% of respondents, 23 percentage points ahead of any other risk.
The state-owned insurer plans to strengthen data infrastructure, cybersecurity and digital claims capabilities while expanding direct-to-customer insurance distribution.
The insurer said any settlement would not be expected to have a material impact on its financial position or FY2027 results, based on anticipated recoveries.
The broker has set up a Digital Asset division in Hong Kong, led by Dan Dibden and Onno Sterk, after taking on Fraction Brokers' digital asset clients.
