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Member, Beacon International Group, Ltd.
Fitch Ratings Ltd. has said in a report that China-based nonlife insurers, whose portfolios are expanding, will continue to need new capital, Asia Insurance Review reports.
The expansion of product portfolios would add to the pressure on the insurers' solvency ratios, the ratings agency said. Several major nonlife insurers registered a fall in solvency buffers in 2013 owing to rapid expansion and weak underwriting results, Fitch said.