A.M. Best Affirms Credit Ratings of Wing Lung Insurance Company Limited
The ratings reflect WLI’s balance sheet strength, which
WLI is well-capitalized as measured by Best’s Capital Adequacy Ratio (BCAR). Its capital and surplus grew organically in the past five years, underpinned by full retention of operating profits and low underwriting leverage. The company has a track record of profitable underwriting results in Hong Kong’s highly competitive non-life insurance market. It continues to outperform its domestic peers in the commercial lines sector. In addition, the company maintains a liquid and diversified investment portfolio, which generates stable and favorable investment income from bank deposits and bonds.
With over 30 years of operation in
Offsetting rating factors include the company’s emerging risk management framework and investment risks. The company recently made an effort to establish a risk committee in compliance with the Insurance Authority’s requirements, set its risk appetite and identify different types of risks with mitigation plans.
Positive rating actions could occur if WLI continues to demonstrate improvement in enterprise-wide risk management, while maintaining robust risk-adjusted capitalization and favorable operating performance. Negative rating actions could occur if the company’s risk-adjusted capitalization deteriorates materially due to adverse underwriting or investment loss, or if the company’s business profile is notably weakened.
Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180607005994/en/
Financial Analyst
[email protected]
or
Director, Analytics
[email protected]
or
Manager, Public Relations
[email protected]
or
Director, Public Relations
[email protected]
Source:
Missouri Jury Awards More Than $34 Million To State Farm Policyholders
Unum Group to present at Morgan Stanley Financials Conference, New York
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News