Industry Segments: Ratings Page 16 / 23
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- October 24 2022
Dah Sing Insurance expanding into construction all risks, mortgage cover
The company is reducing its offshore inward reinsurance portfolio amid a capital and surplus decline by US$30 million in the first half of 2022, according to AM Best.
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- October 16 2022
Peak Re’s outlook revised to negative by AM Best
Despite contagion risks from the Fosun ownership, the reinsurer's standalone business fundamental remains stable, said the rating report affirming its A- credit rating.
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- October 16 2022
Pakistan floods place credit pressure on P&C players
EFU General Insurance, Jubilee General Insurance and Adamjee Insurance have relatively small exposures to the flooding.
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- October 13 2022
BIDV Insurance facing ‘moderate’ capital adequacy volatility: AM Best
The Fairfax-backed insurer, whose ratings were maintained, was affected by changes in cat risk strategy.
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- October 12 2022
Fitch affirms A- rating, stable outlook for China Taiping’s UK subsidiary
The subsidiary's underwriting result was US$4.3m in 2021, compared to a loss of US$25.2m in 2020.
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- October 11 2022
Korea’s Construction Guarantee Cooperative benefitting from rising infrastructure spend
AM Best affirmed the financial strength rating of A+ and the long-term issuer credit rating of “aa-” to the government-designated surety underwriter.
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- October 10 2022
Luen Fung Hang Insurance gets over pandemic impact with 58% COR: AM Best
The Macanese P&C player leveraged its distribution to stay second in the market with a 22.8% share.
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- October 10 2022
Hollard’s Australian arm constrained by Commonwealth Insurance buy
AM Best said the combined entity is expected to see growth in underwriting risks.
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- October 7 2022
Peak Re’s ratings put on review for downgrade by Moody’s
The rating agency also placed on review for downgrade the debt rating on Peak Re’s Baa3-backed subordinated perpetual securities.
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- October 7 2022
GIC Re issuer outlook downgraded to negative amid accounting scrutiny
AM Best affirmed the state-owned carrier’s long-term issuer credit rating of bbb+ and financial strength rating of B++ with a stable outlook.
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- October 7 2022
Japan non-life insurers have ‘stable’ outlook: AM Best
Higher loss ratios for motor insurance, personal accident and marine could impact insurers’ underwriting profitability.
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- October 6 2022
MS First Capital 5-year COR at 62.9% on low costs, high ceding commission: AM Best
The rating agency has affirmed the Singapore insurer’s rating of A (excellent).
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- October 3 2022
Hyundai China’s strong balance sheet to help tide over losses: AM Best
The Didi Chuxing and Legend Holdings backed carrier’s operating results were in the red due to poor underwriting performance.
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- September 30 2022
Volatility may dampen China Taiping Singapore’s earnings: AM Best
The company recorded a pre-tax loss in 2021 and in the first half of 2022 from fixed income portfolio.
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- September 27 2022
Taiping Re continues Asia expansion: AM Best
The Hong Kong reinsurer is expanding beyond its core market of Greater China.
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- September 26 2022
Malaysia’s Pacific & Orient suffers from lack of diversification: Fitch
The firm's COR was 96% in FY 2021 compared with 107% in FY 2020, with a three-year average of 100%.
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- September 21 2022
South and South-East Asian reinsurers face inflation, poor returns double whammy: AM Best
Pricing increases may not be sufficient for carriers to increase technical profitability despite a five-percentage-point COR improvement since 2019.
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- September 19 2022
Prudent reinsurance, low costs anchor Cosco captive’s performance
AM Best affirmed financial strength rating of A for the Chinese shipping company subsidiary.
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- September 19 2022
Sompo Japan’s 5-year average COR at a ‘strong’ 96.3%: AM Best
The rating agency has affirmed the financial strength rating of A+ (superior) to the company and its subsidiaries.
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- September 19 2022
New India Assurance’s underwriting constrained by market challenges, pandemic
Affirming its B++ rating, the agency noted elevated concerns overpricing discipline and risk management given the Indian insurer's level of ongoing underwriting losses.
