U.K.-based Fitch Ratings Ltd. expects that the earnings and capital reserves of nonlife insurers in Asia-Pacific could come under pressure due to surging interest rates and inflation in 2023, Asia Insurance Review reported. According to Fitch Ratings, nonlife insurers and reinsurers will be able to pass 80% of claim inflation to their clients between 2022 and 2024 which will reduce their underwriting margins by up to 5 percentage points in some Asia-Pacific markets.
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