HONG KONG, Oct 6 (Bernama-BUSINESS WIRE) — AM Best is maintaining its stable market segment outlook on the Japan non-life insurance segment given recent profitable underwriting performance and the likelihood carriers will maintain positive results in the face of expected economic headwinds.
In a new Best’s Market Segment Report, “Market Segment Outlook: Japan Non-Life Insurance,” AM Best notes that Japan’s economic recovery continued in fiscal year 2021, although certain business segments still faced pressures. Over the next 12 months, it remains to be seen how the unfolding situation in Ukraine; elevated commodity prices; the possibility of economic slowdown in several of Japan’s trading partners; and the development of the COVID-19 pandemic at home and abroad will impact the country’s economy.
