Steady premium growth, good solvency to support nonlife insurers

U.S.-based Fitch Ratings Inc. has a neutral outlook for Chinese nonlife insurers given their good solvency buffer, steady premium growth and ability to raise capital for business expansion, Reinsurance News reported. Fitch predicts that the Chinese nonlife insurers will increasingly rely on reinsurance, as elevated climate-related catastrophe risks threaten the insurers’ underwriting stability.