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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.