News Snapshot:
Mainland Chinese insurer Yingda Taihe Property Insurance Co's (YDPIC) financial performance is underpinned by strengthening underwriting profitability and stable investment income, says Fitch Ratings. The insurer's combined ratio improved to 68.2% in 1H2020, compared with 71.1% in 1H2019, and has averaged at 93.6% during 2017-2019, benefiting from continued improvement in business quality and enhanced claim management. Satisfactory investment earnings also contributed to YDPIC's overall financial profitability. Consequently, its return on equity rose to 28.3% in 2019, from 14.5% in 2018, and averaged at 17.5% during 2017-2019. Fitch does not expect the insurer to be greatly affected by comprehensive reform of...
