Hong Kong-listed shares of insurers have seen some choppy trading sessions since returning from the Lunar New Year holidays.
Hong Kong-listed shares of insurers have seen some choppy trading sessions since returning from the Lunar New Year holidays last week.
A customer has his temperature taken during a screening outside a Cafe de Jargor restaurant during its first day of operations in Hong Kong, China, on Saturday, Feb. 1, 2020.will likely be able to manage the economic fallout from the coronavirus outbreak, according to multiple analysts. In a note dated Jan. 30, Fitch Ratings said it "expects the recent outbreak of novel coronavirus infections to put some pressure on Chinese insurers' profitability in the near term, but that earnings pressure will be manageable."
At this point, I think the effect on the insurers is still very limited. On the macro scale, it's still just a very small proportion of the whole population.Firstly, claims surrounding the virus outbreak should mainly be covered by commercial health insurance, a sector it described as "still under-penetrated and does not account for a big portion of the overall business, the analysts said.
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