Fitch Sees More Insurance Mergers
One of the three international credit rating agencies expects more Philippine insurance companies, particularly non-life, to exit the industry or merge with their rivals in the coming years amid an unfavorable operating environment. In a statement, Fitch Ratings has warned that catastrophe risk poses the most significant danger to the Philippine insurance industry as well as pressure from government’s new capital thresholds, which some companies are struggling to meet.
Source: Manila Bulletin