Fitch Prism Model News Today

Malaysian Reinsurance remains focused on gradually expanding its overseas business while reducing dependence on local business for growth, says Fitch Ratings. The share of overseas business grew to 52% of gross premiums in the financial year ended 31 March 2023 [FY2023] (FY2022: 48%), overtaking

Meiji Yasuda Life Insurance Company's underwriting profitability is expected to recover from the financial year ending 31 March 2024 (FYE24) after a drop in "deemed hospitalisations" in 2023, following the government's easing of COVID-pandemic-related restrictions since May 2023, says Fitch

Germany's ERGO Group, owned by reinsurance giant Munich Re, has injected CNY882m ($122m) in capital into Taishan Property & Casualty Insurance, raising the insurer's comprehensive solvency ratio to 312% and 282% by end-2022 and end-2Q23, respectively, from 200% in March 2022, notes Fitch Ratings.

The financial performance of Hong Kong-based FWD General Insurance (FWD GI) is expected to continue to improve, despite premium growth volatility from a shifting product mix and pressure on the combined ratio from IT investments, says Fitch Ratings.

Malaysia-based Maybank Ageas Holdings Berhad's (MAHB) core operating entities-known collectively as Etiqa entities-have posted a stable financial performance on a consolidated basis, says Fitch Ratings.

The outlook on Thai Life Insurance Public Companys (TLI) Insurer Financial Strength (IFS) Rating has been changed to Stable from Negative, says Fitch Ratings which affirmed the IFS Rating at A- (Strong). The revised outlook reflects that TLIs operating results and capitalisation strength are more favourable than the pro forma results implied by Fitchs pandemic stress test analysis in 2020 that formed the basis for the prior Negative outlook, the international credit rating agency says. Fitch ha...