KUALA LUMPUR, Aug 26 (Bernama) -- AM Best has affirmed the Financial Strength Rating of A- (excellent) and the Long-Term Issuer Credit Rating of ‘a-’ of Ping An Health Insurance Company of China Ltd (Ping An Health) China.
In a statement, the global rating agency said the outlook of these credit ratings was stable.
The ratings reflect Ping An Health’s 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.
In addition, the ratings reflect the implicit and explicit support received from the company’s two major shareholders, Ping An Insurance (Group) Company of China Ltd and Discovery Limited.
AM Best expects the insurance company’s risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio, to remain at the strongest level based on its business plan.
Ping An Health has turned around to profit-making for two consecutive years, as a result of its transformation of business focus to individual health insurance.
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