WASHINGTON, Sept. 26 -- The Democratic Senatorial Campaign Committee issued the following news release:

Today marks one year since Republicans pulled Senator Heller's toxic health care bill, Graham-Cassidy-Heller, from the Senate floor due to lack of support - but that hasn't stopped the proposals he put forward from dragging down his campaign.

Heller's bill would gut coverage for preexisting conditions, implement an age tax and slash Medicaid funding, and was opposed by Nevada's Republican Governor Sandoval, along with other Republicans. Throughout the cycle, Heller's health care "debacle" has dominated the Nevada Senate race - he infamously railed against the GOP's health care agenda in a televised press conference before caving to pressure from President Trump and voting for it.

From Democratic Senatorial Campaign Committee spokesman David Bergstein: "One year later, Senator Heller's spineless, politically self-serving record on health care is as damaging to his campaign prospects as it is harmful to hardworking Nevadans. If Heller had his way he'd gut protections for pre-existing conditions for up to 439,000 Nevadans, impose an age tax and slash coverage - Nevada voters will stop him by holding him accountable in November."

HONG KONG--(BUSINESS WIRE)--
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of CMB Wing Lung Insurance Company Limited (CMBWLI) (Hong Kong). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect CMBWLI’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.

CMBWLI’s very strong balance sheet strength assessment is underpinned by its robust risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR). The company’s capital and surplus recorded mid-to-high single-digit increase in 2024 and 2025, benefiting from partial retention of its sustained and stable operating profits. CMBWLI maintains a prudent investment strategy, which continues to enhance the credit quality of the bond portfolio, while keeping the cash and cash equivalents as its largest asset types. Other supporting factors include its strong regulatory solvency position, positive liquidity, and comprehensive reinsurance program with moderate reinsurance dependency.

CMBWLI’s overall operating performance has been consistently strong, as evidenced by high-single-digit average returns on equity over the past five years (2021–2025). Despite a slight decrease of topline in 2025 due to rate reductions driven by soft and competitive local market environment, the company achieved a net/net combined ratio that was consistently lower than 90%, which outperformed the market. The company’s investment performance further enhanced in 2025, thanks to its stable interest and dividend income, fair value gain on listed securities, as well as recovery of impairment loss.

As a medium-sized non-life insurer in Hong Kong, CMBWLI is one of the major market players in the employees’ compensation (EC) segment. The company’s product mix remains diversified, with EC, motor and property damage making up the bulk of its business. Leveraging on the collaboration and solid support from China Merchants Group Limited, the company expects further growth in the marine segment. Also, considering the local soft market environment, CMBWLI is seeking opportunities in terms of inward property damage outside Hong Kong.

Negative rating actions could occur if there is a continued deteriorating trend or an increased level of adverse volatility in CMBWLI’s operating performance, due to adverse underwriting results or investment losses. Negative rating actions also could arise if there is a significant deterioration in the company’s risk-adjusted capitalisation. Although it is unlikely in the near term, positive rating actions could occur if there is a material and sustained improvement in CMBWLI’s balance sheet strength fundamentals, while the company maintains its strong 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 the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20260402072342/en/

Aaron Li
Financial Analyst

+852 2827 3426

[email protected]

Stephanie Mi
Senior Financial Analyst

+852 2827 3402

[email protected]

Christopher Sharkey
Associate Director, Public Relations

+1 908 882 2310

[email protected]

Al Slavin
Senior Public Relations Specialist

+1 908 882 2318

[email protected]

Source: AM Best