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U.S.-based Fitch Ratings Inc. expects Thai Reinsurance Public Co. Ltd.'s earnings to stabilize this year, driven by a hardening market and lapsed COVID-19 policies, Asia Insurance Review reported. The agency expects Thai Re’s combined ratio to improve to 97%-102% this year from 112% in the first nine months of 2022. It has also affirmed the reinsurer's financial strength rating at "A-" and the outlook is "stable".