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Hong Kong fire to hurt Taiping Insurance earnings, Fitch says
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The deadly fire in Hong Kong's Wang Fuk Court is expected to significantly impact Taiping Insurance's earnings, with over $200 million in coverage exposure. Fitch Ratings predicts a temporary increase in the combined ratio and modest capital erosion for China Taiping Insurance (Hong Kong). The fire has led to a 4.2% drop in the insurer's shares and is likely to result in higher premiums and operating expenses for the industry.
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