Informa Insurance News 24
JAPANESE INSURERS BENEFIT FROM BETTER PRICING: FITCH
Japanese non-life insurers are benefiting from improved pricing in motor and fire insurance lines, according to Fitch. The three largest non-life insurers, MS&AD Insurance, Tokio Marine, and Sompo, posted an improved combined ratio, excluding compulsory auto-liability and residential earthquake insurance, of 94% at full year ending 2021, an improvement on 97% in the previous year. However, coronavirus business interruption losses at MS&AD and Tokio Marine totalled Yen 60bn to Yen 70bn for financial year ended March 2021, largely from overseas businesses. Covid losses were limited, Fitch said.