Guoren P&C’s underwriting profitability under test: Fitch
May 16 2024 by InsuranceAsia News
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Sompo China to sustain profitable underwriting: S&P Global
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The rating agency has affirmed the carrier's 'A' long-term local currency financial strength rating and issuer credit rating with a stable outlook.
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The state-owned reinsurer's combined ratio will likely lower to 99% from the five-year average of 102.1%. The rating agency has also affirmed its "A" rating and "stable" outlook.
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The carriers have sufficient capitalisation and their stable underwriting performance will likely support their overall profitability and offset the choppier returns caused by the IFRS 9 accounting change.
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