Non-life insurer earned a 'AA+(idn)' National IFS rating as Fitch cited stronger profitability, adequate capitalisation, and majority ownership by South Korea's Hanwha Life Insurance.
While the Taiwanese insurer continues to demonstrate very strong capital and earnings, S&P warned that its reliance on Mega Bank leaves it exposed to group-level risks.
Violent demonstrations in Kathmandu caused extensive damage to businesses and institutions, with reinsurance, primarily through Nepal Re, expected to cover the majority of industry losses.
Marine hull premiums rose by double digits across both onshore and offshore business, with offshore underwriting profits seeing a 167% rise, as claims fell.
Although North America and Europe dominate the cyber insurance market, Swiss Re noted that there is significant potential for future growth in the Asia Pacific Region.
The platform, launched in Hyderabad with IRDAI Chairman Ajay Seth officiating, marks the first step in India’s “Insurance for All by 2047” strategy and is expected to enable transactions by December 2...
