Fitch Revises Japan's Non-Life Insurance Outlook to Positive on Premium Growth

April 9, 2015 1:53 AM

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(The following statement was released by the rating agency) TOKYO/HONG KONG/LONDON, April 08 (Fitch) Fitch Ratings has revised the Rating Outlook for Japan's non-life insurance sector to Positive from Stable, on tighter premium management and increasing diversification. "Japanese non-life insurers' profitability is likely to be restored in 2011 due to ongoing premium rate hikes and more sophisticated pricing for each risk category in the unprofitable auto insurance sector," says Teruki Morinaga, Director in Fitch's Asia Pacific Insurance Ratings team, in a special report published today.

For example, premium rates for elderly motorists will be raised at a faster rate to reflect their higher risk profile while those for middle-aged motorists will be increased at a slower pace. Auto insurance represents about half of the major insurers' domestic non-life insurance business by premium ...

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