HSBC Insurance (Asia) Ltd. Nov 04
Standard & Poors, November 2004
Abstract
The ratings on HSBC Insurance (Asia) Ltd. (HSBC Insurance) reflect implicit support from the company's immediate parent, HSBC Insurance (Asia-Pacific) Holdings Ltd., under the wealth management strategy of the wider HSBC group. The parent is considered to be a core subsidiary of Hongkong and Shanghai Banking Corp. (HSBC, foreign currency: A+/Stable/A-1; local currency: AA-/Stable/A-1+). The ratings also reflect HSBC Insurance's strong operating performance, its solid financial profile, and its prudent management strategy. However, industry-wide premium softening is likely to exert some pressure on the underwriting performance of the company's nonlife insurance operation over the near term. HSBC Insurance has a strong business profile. As a member of the HSBC group, it benefits from the outstanding profile of the HSBC brand...
Action: Review
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Research Type: Full Analysis
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- HSBC France
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- Household Global Funding Inc.
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- Household International Capital
- Hang Seng Bank Limited
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- HSBC Precious Metals (Australia) Ltd.
- HSBC USA Capital Trust I
- Republic New York Capital I
- Republic New York Capital II
- Hang Seng Insurance Co. Ltd.
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- HSBC Bank Brasil S.A.
- HSBC Insurance (Singapore) Pte. Ltd.
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- HSBC Canada Asset Trust
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