Best’s Market Segment Report: AM Best Maintains Stable Outlook On China’s Non-Life Insurance Segment

HONG KONG, AM Best has maintained its stable outlook on China’s non-life insurance segment, citing several factors that include a supportive regulatory environment, increased health insurance awareness and strong growth potential in the electric vehicle insurance market.

The Best’s Market Segment Report, ‘Market Segment Outlook: China Non-Life Insurance,’ notes that the segment’s solvency ratios under China Risk-Oriented Solvency System (C-ROSS) stabilised in 2023 and through the first half of 2024, following a decline in 2022. Large Chinese insurers have been able to raise funds from the domestic debt capital market at favourable financing costs by issuing capital supplementary bonds in recent years. AM Best views this move as credit-positive and expects that as the capital market expands over time, investor confidence and risk appetite will grow.

Source: BERNAMA News Agency

  • malaysiang

    Related Posts

    HCM City’s mechanical, electrical firms seek business opportunity in US

    The Ho Chi Minh City Association of Mechanical – Electrical Enterprises (HAMEE), in collaboration with the Vietnam Trade Office in the US and the Asian American Chamber of Commerce (AACC), recently organised a Vietnam-US trade promotion forum on smar…

    Urban area worth nearly 3 billion USD to be built in Dong Nai

    Five investors will jointly carry out an urban area project worth over 72.2 trillion VND (2.9 billion USD) in Hiep Hoa Island of Bien Hoa city, the southern province of Dong Nai. The Dong Nai People’s Committee on September 17 issued a decision appro…