HONG KONG, Aug 24 (Bernama-BUSINESS WIRE) -- A.M. Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” from “a-” of Hanwha General Insurance Company Limited (HGI) (South Korea). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect HGI’s balance sheet strength, which A.M. Best categorizes as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. HGI’s ratings also consider the strategic importance to its parent company, Hanwha Life Insurance Co., Ltd. (Hanwha Life).
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