HONG KONG, March
17 (Bernama-BUSINESS
WIRE) -- A.M.
Best has affirmed the financial strength of A (Excellent)
and the issuer credit rating of “a” of China Taiping Insurance (Macau) Co., Ltd. (CTIM)
(Macau). The outlook for both ratings is stable.
The rating affirmations reflect CTIM’s strong operating performance and favorable business profile in the Macau non-life market, as well as strong risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR). CTIM has demonstrated a strong and consistent track record of profitable underwriting and investment results. Furthermore, CTIM has demonstrated a more stable trend in net loss ratio compared with its local peers, which reflects the company’s diversified product lines, profitable business growth strategy and its claims management capability. In the medium term, CTIM’s premium generation will continue to be supported by its favorable business profile, including a balanced distribution across banks, agents, brokers and direct channels, increased diversification to personal insurance business and business relationships with mainland China enterprises established at the Taiping Group level.
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