The agency said the changes are unlikely to be meaningful enough in most cases to negatively affect insurers’ credit profiles, even if firms adjust investment, hedging and product design.
APAC insurers are well positioned to absorb Middle East-related stresses, but insurers in Singapore stand out owing to their position as a major shipping and insurance hub.
Ratings agency flags ongoing FX exposure and higher funding needs ahead of new capital standards, with asset-intensive reinsurance yet to gain traction.
Taiwan's accounting reforms have triggered a sharp retreat from currency forwards, with six major life insurers halving their combined positions in just two months.
