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International

New Zealand's nonlife insurance sector benefits from premium rate increases: Fitch

December 17, 2013 Reprints

Fitch Ratings Inc. has seen New Zealand's nonlife insurance sector report stronger earnings from premium rate increases and the stabilization of Christchurch earthquake claims reserves, Asia Insurance Review reported.

Fitch said reinsurance capacity is crucial for the country's insurance sector.

It added that several regulatory changes have benefited the sector's overall credit profile.

The country's robust economic performance will support the insurance market in 2014.

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New Zealand's nonlife insurance sector benefits from premium rate increases: Fitch

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