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Taiwan's Shinkong Insurance company gets excellent ratings
Last update: 26/04/2018

KUALA LUMPUR, April 26 (Bernama) -- A.M. Best has affirmed the financial strength rating of A (excellent) and the long-term issuer credit rating of 'a' of Shinkong Insurance Co Ltd (Shinkong Insurance) Taiwan with the†outlook of these ratings as†stable.

A.M. Best in a statement said the ratings reflect Shinkong Insurance's balance sheet strength, which categorised as very strong, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management.

The insurance company's risk-adjusted capitalisation remains solid and supportive of its current ratings, underpinned by continued organic growth from earnings retention, accumulation of claims equalisation reserves and prudent reinsurance arrangements.

Shinkong Insurance also consistently demonstrated underwriting and investment profitability over the past five years, mainly driven by positive results in the voluntary personal motor line, investment gains from interest income and realized gains from available-for-sale securities, the statement added.

The company maintains a well-established business profile in Taiwan's non-life insurance segment and held the third-largest market share over the past 10 years in terms of gross premiums written.

A.M. Best is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

--BERNAMA

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MIDDAY, FRIDAY, MAY 18
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Source: Bank Negara Malaysia

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