Fitch launches new model for Asia-Pacific

Rating agency Fitch has unveiled its latest risk-based model to assess the capital strength of insurers for the Asia-Pacific region.

This follows the successful launch and implementation of Prism Factor-Based Capital Model in Europe, Middle East and Africa (EMEA) in September last year.

It enables Fitch to bring insurers writing business in different regions under varying accounting standards into a single framework and to develop a comparable capital score for use in the rating process.

The model has been launched in the Asia-Pacific region, excluding Indonesia and Sri Lanka, where the model will be launched later in 2015.