KUALA LUMPUR, Sept 27 (Bernama) -- AM Best has affirmed the Financial Strength Rating of A (excellent) and the Long-Term Issuer Credit Ratings of ‘a’ of Taiping Reinsurance Company Limited (TPRe) Hong Kong.
The agency also affirmed the same credit ratings of TPRe wholly owned subsidiary, Taiping Reinsurance (China) Company Ltd (TPRe China) China and the outlook of these credit ratings is stable.
The TPRe ratings reflect its balance sheet strength, which AM Best described as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
The ratings also acknowledge the continued and holistic implicit and explicit support given by TPRe’s parent company, China Taiping Insurance Holdings Company Limited, in terms of capital, investment, risk oversight and shared operational resources.
The rating agency expects the company’s risk-adjusted capitalisation to remain robust over the short to intermediate term, supported by strong liquidity and comprehensive retrocession arrangements.
More details on the credit ratings at http://www.ambest.com