HONG KONG, Nov 29 (Bernama-BUSINESS WIRE) — AM Best is maintaining a stable outlook on China’s non-life insurance segment given the growth momentum in the motor and non-motor segments, as well as the domestic economic recovery following removal of pandemic-related restrictions, partially offset by a weaker 2024 economic outlook.
The Best’s Market Segment Report, “Market Segment Outlook: China Non-Life Insurance,” also notes the industry’s solvency position remains robust, albeit with higher capital requirements under C-ROSS Phase II. The recent relaxation of C-ROSS solvency-related investment rules is expected to boost the non-life segment’s solvency position slightly.