AM Best Affirms Credit Ratings of Ping An Health Insurance Company of China, Ltd.
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of
The ratings reflect Ping An Health’s balance sheet strength, which AM Best assesses 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 capital and surplus continued to grow at a robust rate over the past few years, underpinned by capital injections and full retention of profits. In
Ping An Health’s investment performance was stable in 2021 due to its diversified investment portfolio that is mainly composed of cash and cash equivalents, as well as fixed-income securities in bonds and alternative investments. These assets have contributed to a growing stream of interest income over the past few years.
Negative rating actions could occur if
Positive rating actions could occur if the company is able to demonstrate self-sustaining internal capital generation by delivering a stable and positive operating performance.
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 Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in
Copyright © 2022 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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