HONG KONG, March 2 (Bernama-BUSINESS WIRE) -- Japan's non-life insurance groups have reported moderate increases in their financial leverage, to an average 6.1% at year-end 2016 from 4.5% in March 2016, and interest rate coverage has remained stable, due to improvements in their operating results, according to a new A.M. Best briefing.
The Best's Briefing, titled, "Improved Operating Results for Japanese Non-Life Insurers Support Increased Level of Financial Leverage," states that the three major non-life insurance groups - MS&AD Insurance Group Holdings, Inc., Sompo Holdings, and Tokio Marine Holdings - saw their profitability improve over the nine months ending December 2016, mainly due to the absence of large-scale catastrophe losses in the domestic market. In addition, improved underwriting results and growing contributions from overseas insurance businesses offset the decrease in interest and dividend incomes. These major non-life insurance groups have reported premium income and earnings growth from their overseas businesses and the consolidations of recently acquired operations.
The Best's Briefing, titled, "Improved Operating Results for Japanese Non-Life Insurers Support Increased Level of Financial Leverage," states that the three major non-life insurance groups - MS&AD Insurance Group Holdings, Inc., Sompo Holdings, and Tokio Marine Holdings - saw their profitability improve over the nine months ending December 2016, mainly due to the absence of large-scale catastrophe losses in the domestic market. In addition, improved underwriting results and growing contributions from overseas insurance businesses offset the decrease in interest and dividend incomes. These major non-life insurance groups have reported premium income and earnings growth from their overseas businesses and the consolidations of recently acquired operations.
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