Summary: Mingtai Fire & Marine Insurance Co. Ltd. Oct 04
- ID: 2029552
- October 2004
- Standard & Poors
The ratings on Mingtai Fire & Marine Insurance Co. Ltd. (Mingtai Insurance) reflect the company's good business position, prudent management, consistently sound operating performance, satisfactory investment profile, and adequate capitalization. These strengths are partly offset by the company's high usage of reinsurance, and the potential for operational volatility in a deregulating environment. Mingtai Insurance recently joined the First Financial Holding Co. Ltd. (First FHC, BBB-/Stable/A-3) group and may obtain some benefits from this link-up, but nevertheless retains the strong and independently sustainable business profile that it has established over many years. Good domestic business position. Mingtai Insurance is the second-largest property and casualty insurance company in Taiwan, with a market share of 9% in terms of gross premiums. The company...
Companies mentioned in this report are:
- MSIG Mingtai Insurance Co. Ltd.
- First Commercial Bank Ltd.
- First Financial Holding Co. Ltd.
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