AM Best Affirms Credit Ratings of China Taiping Insurance (Macau) Co., Ltd.
The ratings reflect CTIM’s balance sheet strength, which AM Best categorizes as strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. The ratings also reflect the lift the company receives from its parent, China Taiping Insurance Holdings Company Limited.
CTIM’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), returned to the strongest level at year-end 2018 from the adequate level a year ago, after settling the majority of its claims and receiving most of its reinsurance recoverables for two major loss events – Typhoon Hato and SJM’s
An offsetting rating factor is the company’s geographic concentration in
While positive rating actions are unlikely in the near term, negative rating actions could occur if there is a significant deterioration in the company’s operating performance, a material decline in its risk-adjusted capitalization, or a substantial loss of its market share in
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 AM 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 AM 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 AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.
Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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Source: AM Best
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