AM Best Affirms Credit Ratings of Ping An Health Insurance Company of China, Ltd.
The ratings reflect Ping An Health’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. The ratings also reflect the implicit and explicit support that the company receives from its two major shareholders, Ping An Insurance (Group) Company of China, Ltd. (
Ping An Health’s capitalization was strengthened through capital injections totaling
Offsetting rating factors include the low barriers to entry and intense competition in the local health insurance segment from life and non-life competitors. In addition, although the individual health business provides a material contribution to its overall profitability, the company is subject to product concentration risk, as the majority of its premiums come from one single individual health product.
Positive rating actions could occur if
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.
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Source: AM Best
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