Dah Sing enters construction all risks and mortgage insurance

This is part of the insurers’ rebalancing of its portfolio.

Dah Sing Insurance is rebalancing its underwriting portfolio by expanding into the construction all risks and mortgage business whilst reducing its offshore inward reinsurance portfolio, AM Best revealed

The insurance ratings firms also said that a diversified panel of corporate intermediaries contributed a majority of the company’s gross written premiums (GWP), followed by banks and inward reinsurance.

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As a small to medium-sized player in Hong Kong’s non-life insurance segment, DSI maintained a market share of approximately 1%, with a GWP of HK$604m ($76.95m) in 2021. The company’s three major lines of business are motor, employees’ compensation and property damage.

“The overall operating performance of DSI is driven by its investment performance. The five-year investment gains are supportive of the adequate operating performance assessment, but the nature of equity investments exposes DSI’s year-to-year net profits/losses and even capitalisation to potential volatility,” AM Best said.